Xmet Engages Aeroquest to Fly Deep Penetrating VTEM Electromagnetics Over 20,000 New Acres on its Blackflake Project
February 4, 2014 (Source: Marketwired) — Xmet Inc. (TSX VENTURE:XME) (“Xmet“) is pleased to announce that it has engaged Aeroquest International to complete a new round of Versatile Time Domain Electromagnetic (“VTEM”) and Magnetic Gradiometer Survey on its newly acquired 20,000 acres of 100% owned claims which expanded Blackflake’s total area to 29,400 acres. The airborne survey will begin in the next few days.
“This will be our third round of EM aerial surveys and with the exploration success Xmet achieved with its first two EM surveys, we are excited about the potential for this next round of VTEM,” said Xmet’s Chairman and CEO Alexander Stewart.
He continued by saying, “Our primary objective remains to drill test our prime anomaly, disclosed in our news release of December 12, 2013, for which permits for ground geophysics and drilling are expected to be received this month. However this newly acquired land and the further upside potential that the VTEM can deliver is equally exciting.”
Embedded in this news release is a MAP depicting Blackflake’s Eastern Claim Block. As per the map’s legend, the yellow portion within Xmet’s claim block denotes Xmet’s land package prior to January 30th, 2014 News Release and the horizontal grid lines within Xmet’s claim block denotes the 20,000 acres of new claims staked along with the area that will be flown in this round of VTEM.
To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/XME0204.pdf
Bill Yeomans, P. Geo, states, “Given the highly conductive nature of graphite deposits, VTEM is a very effective method for locating potential graphite and massive sulphide type deposits. The new VTEM survey, which will cover approximately 473 line kilometres, is excellent for locating conductive anomalies as well as for identifying lateral and vertical variations in resistivity.”
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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>