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Xmet More Than Doubles Its Land Position as a Result of the Conductive Anomalies it has Discovered on Its Blackflake Project

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Xmet More Than Doubles Its Land Position as a Result of the Conductive Anomalies it has Discovered on Its Blackflake Project

 

 

 

 

 

Xmet Inc. (TSX VENTURE:XME)(OTCQX:XMTTF) 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.

 

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.’

Posted January 6, 2014

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