Xmet More Than Doubles Its Land Position as a Result of the Conductive Anomalies it has Discovered on Its Blackflake Project
January 6, 2014 (Source: Marketwired) — Xmet Inc. (TSX VENTURE:XME)(OTCQX:XMTTF) (“Xmet“) is pleased to announce that it has staked an additional 298 claim units immediately adjacent to its existing land package that comprises the Blackflake Project bringing its total land package to over 21,000 acres.
“As a result of our recent success in discovering conductive anomalies, and in particular one such anomaly that bares striking geophysical similarities to that of Zenyatta’s Albany Project, we have aggressively expanded our land position based on our geological interpretation of areas co-incident with magnetic lows where we see opportunities to discover additional hydrothermal graphite targets. Our team has identified additional geological indicators, coincident with magnetic lows, which may help us to create excellent targets. We are confident that we have now assembled a highly prospective land position for hydrothermal graphite in the region”, said Alexander Stewart, Chairman and CEO of Xmet.
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Bill Yeomans, P. Geo, states, “Xmet has now secured a significant land position. Xmet’s Blackflake claim blocks were staked within similar magnetic lows located within the border phase of the carbonatite / alkaline intrusion which hosts the Zenyatta graphite breccia pipes. This is a great opportunity for Xmet as, to the best of our knowledge, no electromagnetic surveys have ever been flown on the recently staked ground, which flanks a significant portion of the Zenyatta Albany claim block. Xmet will be conducting follow-up ground geophysics surveys on existing targets in preparation for drilling. Furthermore, in the near future Xmet will be flying additional electromagnetic surveys over the recently staked claims.”
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>