Xmet Files for Exploration & Drilling Permits & Stakes Additional 8,000 Acres to Expand Land Package to Over 29,000 Acres on ...
30 Janvier 2014 - 3:26PM
Marketwired
Xmet Files for Exploration and Drilling Permits and Stakes
Additional 8,000 Acres to Expand Land Package to Over 29,000 Acres
on Its Blackflake Project
TORONTO, ONTARIO--(Marketwired - Jan 30, 2014) - Xmet Inc.
(TSX-VENTURE:XME) ("Xmet") is pleased to announce that it has filed
for Exploration and Drilling permits and expects to receive
approval from Ontario's Ministry of Northern Development and Mines
to begin further exploration work this February.
In addition to preparing for the upcoming exploration and
drilling of Xmet's primary target, which it discovered and detailed
in its December 12th, 2013 news release, Xmet has continued to
expand its land position, by staking an additional 8,000 acres of
100% owned claims adjacent to the Zenyatta Albany graphite deposit.
The claims have been staked, coincident with magnetic lows, within
the border phase of the carbonatite/alkaline intrusion which hosts
the Zenyatta graphite breccia pipes.
Alexander Stewart, Chairman and CEO of Xmet states, "Our focus
remains on drilling and defining our prime target which bares
remarkable geophysical similarity to the neighbouring Albany
Project owned by Zenyatta. We now have a very substantial land
package of over 29,000 acres which holds a number of additional EM
targets. Our land package, which given Albany's discovery, hosts
excellent graphite potential, also holds the potential for a
massive sulphide discovery. It was the area's potential for a
polymetallic discovery that initially drew Cliffs and Zenyatta to
the region."
About the 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
Hydrothermal Graphite Deposit. Xmet has conducted two airborne
electromagnetic surveys, VTEM and TDEM, 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 effective Jan 23,
2014.
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.cawww.xmet.ca
Xmet Inc. (TSXV:XME)
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