Xmet Completes Initial Drill Program on the Blackflake and Releases Geophysical Data
14 5월 2014 - 5:00AM
Marketwired
Xmet Completes Initial Drill Program on the Blackflake and Releases
Geophysical Data
TORONTO, ONTARIO--(Marketwired - May 13, 2014) - Xmet Inc.
("Xmet" or the "Company") (TSX-VENTURE:XME) is pleased to announce
that it has completed its initial drill program on the Blackflake
project.
The Initial Drilling Program completed over 1,100 metres of
diamond drilling with 4 holes testing road accessible versatile
time-domain electromagnetic ("VTEM"), gravity, ground magnetic and
IP survey target areas. The initial drill program has been
completed and drill core from the program has been sent to the
assay lab and the Company is awaiting results. Further follow-up
ground geophysical surveys will continue on the company's large
100% owned claim block as soon as late high spring melt-waters have
lowered after the prolonged winter season in the Hearst region of
northern Ontario.
Geophysical Data Interpretation Identifies Kimberlite
Potential on Under-explored Land Package
In November 2013 and February 2014 Xmet commissioned Aeroquest
Airborne to complete airborne geophysical surveys using VTEM and
magnetic surveys. The airborne survey report and additional
geophysical interpretations commissioned by Xmet identified
multiple potential kimberlite targets of interest for being
potentially diamond bearing. Xmet has hired a diamond exploration
consultant who conducted further geophysical interpretations on the
magnetic and electromagnetic survey data for the exploration of
possible kimberlite pipes.
The strongest electromagnetic responses accessible are being
evaluated for hydrothermal graphite potential. The geophysical
interpretation report by Aeroquest recommends follow-up exploration
programs on 8 potential pipe-like bodies with conductive shallow
layers identified for the interpreted survey block.
Xmet will continue to test potential graphite targets and plans
to evaluate potential kimberlite pipes using ground geophysical
methods. Xmet is also pleased to announce that it has hired Justin
Rocco as its Geology Manager. Mr. Rocco is a geological engineering
graduate from the University of Toronto's Lassonde Institute and a
diamond exploration and kimberlite specialist with 10 years of
experience working on diamond exploration projects with SouthernEra
Diamonds and Mantle Diamonds.
Below in this News Release is a geophysical image depicting the
initial targets Total Magnetic Intensity and the four diamond drill
holes completed by Xmet.
http://media3.marketwire.com/docs/945601m2.jpg
About Xmet's Blackflake
Project
Xmet's Blackflake Project comprises over 29,000 acres of 100%
owned claims approximately 60km to the northwest of Hearst, Ontario
and is adjacent to Zenyatta's Albany Project. Xmet has conducted
three airborne electromagnetic surveys, VTEM and TDEM, and ground
geophysics which discovered multiple electromagnetic conductors
making the targets highly prospective for further exploration. Xmet
has developed an excellent working relationship with the Constance
Lake First Nation, with whom the company signed an ongoing
Exploration Agreement.
The technical information contained in this news release has
been approved by William Yeomans, a director of Xmet, who is a
qualified person as defined in "National Instrument 43-101,
Standards of Disclosure for Mineral projects".
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Xmet assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Xmet. Additional information identifying risks and
uncertainties is contained in filings by Xmet with Canadian
securities regulators, which filings are available under Xmet's
profile at www.sedar.com.
Xmet Inc.Alexander StewartChief Executive Officer(416)
644-6588astewart@xmet.caXmet Inc.Stephen StewartPresident(416)
644-6588sstewart@xmet.ca
Xmet Inc. (TSXV:XME)
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Xmet Inc. (TSXV:XME)
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