Xmet Inc. Provides Grasset Drilling Update, Expands Program
16.03.2015 | Marketwire
TORONTO, Mar 16, 2015 - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that it thus far completed drilling eight holes on its Grasset Project out of the ten holes originally planned. Three of these holes encompassing approximately 460 metres have been cut and sent to the lab for assays. The remaining completed holes are being cut and processed and will be sent for assays in the near future.Xmet has also decided to expand its Grasset drill program to include two additional land based holes as a result of geophysical interpretations it has received from its VTEM survey that it completed in January 2015. The Company recently received drill permits from the Province and is currently completing the access road to reach the land based targets. Drilling for the entire program should be completed by the end of March 2015 with assay results to follow.
About Xmet's Grasset Project
In January 2015 Xmet completed a 330 line kilometre Versatile Time Domain Electromagnetic ("VTEM") and Magnetic Gradiometer Survey on its 100% owned Grasset Project. The survey was a follow up to its March 2012 geophysics when the Company mobilized a geophysical crew onto the property to carry out 28 line km of a gradient induced polarization survey over the interpreted trace of the Detour-Sunday Lake Deformation Zone. Results of the completed part of the survey were announced on 3 May, 2012. The survey clearly identified a favourable gold target in the survey. Phase two of ground geophysics was completed in March 2013 totalling 68 line km of gradient IP with an additional 8 line km of a detailed pole-dipole survey also covering the SLDZ.
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.
Contact
Xmet Inc.
Alexander Stewart, Chief Executive Officer
(416) 644-6588
astewart@xmet.ca
Xmet Inc.
Stephen Stewart, President
(416) 644-6588
sstewart@xmet.ca