Xtra-Gold Resources Corp. ("Xtra-Gold" or the
"Company") (TSX:XTG) (OTCBB:XTGR), is very pleased to
announce results from 10 additional diamond core holes totaling
2,293 metres ("m") from the Double 19 Zone on Zone 3 of the
Company's wholly-owned Kibi Gold Project, located in the Kibi –
Winneba greenstone belt ("Kibi Gold Belt"), in Ghana, West Africa.
Highlights of the drill results and ongoing exploration activities
reported today include:
- 12 m grading 10.32 grams per tonne ("g/t") gold in #KBDD12198
from 18 m down-hole on newly defined Double 19 Zone (Zone 3 –
East);
- 26 m grading 3.06 g/t gold, including 5.67 g/t gold over 10 m,
in #KBDD12205 from 33 m down-hole (Double 19 Zone);
- Drilling / trenching to date appears to indicate that the
Double 19 Zone consists of a ENE-plunging, en-echelon, mineralized
vein system traced to date over an approximately 165 m strike
length and approximately 150 m down plunge distance from surface;
- Scout drilling on Zone 4 identifies prominent,
pyritic/graphitic shear zone centred on quartz feldspar porphyry
("QFP") sill; mineralized shear traced over an approximately 300 m
strike length and 160 m down-dip extension to date by 5 boreholes
(Orange No. 5 Zone);
- Scout trenching and deep hand auger sampling scheduled to begin
this week on newly defined 1,200 m long by 150 m to 250 m wide
Akwadum South and Akim Apapam gold-in-soil anomalies identified by
the ongoing Phase II Soil Program.
|
|
Significant Drill
Intercepts - Kibi Gold Project Double 19 Zone (Zone 3 -
East) |
Hole ID |
From (metres) |
To (metres) |
Core Length
(metres) |
Gold Grams Per
Tonne |
Comment |
KBDD12192 |
56 |
63 |
7 |
2.00 |
|
And |
110 |
111 |
1 |
23.45 |
|
KBDD12194 |
No Significant
Results |
|
KBDD12198 |
18 |
30 |
12 |
10.32 |
saprolite (oxide) |
including |
24 |
24.5 |
1.5 |
16.93 |
|
KBDD12200 |
19.5 |
24 |
4.5 |
1.82 |
transition zone |
|
|
|
|
|
|
|
Significant Drill
Intercepts - Kibi Gold Project Double 19 Zone (Zone 3 -
East) |
Hole ID |
From (metres) |
To (metres) |
Core Length
(metres) |
Gold Grams Per
Tonne |
Comment |
KBDD12201 |
86 |
90 |
4 |
5.85 |
|
including |
88.3 |
89 |
0.7 |
20.50 |
|
And |
112 |
113 |
1 |
5.11 |
|
KBDD12203 |
36 |
55 |
19 |
3.26 |
|
including |
46 |
55 |
9 |
4.16 |
|
And |
73 |
74 |
1 |
5.39 |
|
KBDD12204 |
No Significant
Results |
|
KBDD12205 |
33 |
59 |
26 |
3.06 |
transition zone - fresh |
including |
41 |
51 |
10 |
5.67 |
|
KBDD12206 |
No Significant
Results |
|
KBDD12208 |
4.5 |
21 |
16.5 |
4.35 |
saprolite (oxide) |
including |
15 |
19.5 |
4.5 |
7.11 |
|
Notes: |
Reported intercepts are
core - lengths; true width of mineralization is unknown at this
time. |
Unless otherwise indicated
intercepts constrained with a 0.25 g/t gold minimum cut-off grade
at top and bottom of intercept, with no upper cut-off applied, and
maximum of five (5) consecutive metres of internal dilution (less
than 0.25 g/t gold). All internal intervals above 15 g/t gold
indicated. |
A map depicting the location of the Double 19 Zone in
connection with the mineralization zones can be viewed on the
Company's website at www.xtragold.com.
President and CEO Paul Zyla commented, "The Double 19 Zone
step-out drilling located approximately 600 m to the southwest of
the South Ridge Zone on the Zone 2 gold-in-soil anomaly continues
to yield very encouraging results and to demonstrate the widespread
nature of the classical granitoid – hosted gold mineralization
developed along the over 5.5 km long Kibi Gold Trend within the
northwestern portion of the Apapam Mining Lease. With the
Double 19 Zone a total of 4 prominent, granitoid-hosted, gold
systems have now been identified over an approximately 1,500 m
segment of the Kibi Gold Trend, including the East Dyke, Big Bend,
and South Ridge zones. This newly defined zone continues to
demonstrate the multiple gold shoot potential of the extensive Kibi
Gold Trend mineralized system; with the near term potential to add
to the currently commissioned initial NI 43-101 mineral resource
estimate on the Big Bend and East Dyke Zones on Zone 2 looking very
promising."
Double 19 Zone (Zone 3 – East Gold-In-Soil
Anomaly)
Today's drill results on the Double 19 Zone correspond to a
February 2012, 10 hole (2,293 m) drill campaign designed to
follow-up on very encouraging trenching and 2009 scout reverse
circulation (RC) drilling result (see March 16, 2012 news
release). The Double 19 Zone lies at the south-eastern
extremity of the approximately 1,250 m long Zone 3 gold-in-soil
trend, approximately 600 m southwest of the South Ridge Zone on the
Zone 2 gold-in-soil anomaly. See the map depicting the
location of the Double 19 Zone in connection with the
mineralization zones which is available for viewing on the
Company's website. The drilling was designed to further
define the mineralization along strike and at depth, gain
additional insight on the mineralization's structural setting, and
further delineate the geometry of the host diorite body.
The drilling announced today tested the mineralized veining
system over an approximately 100 m strike distance and
approximately 80 m down plunge extension from surface. Drilling
highlights include: a near surface, saprolite (oxide) intercept of
16.5 m grading 4.35 g/t gold from a down-hole depth of 4.5 m in
hole #KBDD12208 designed to undercut the trench #TKB022-ADRS003
mineralized intercept at the WNW extremity of the zone; a saprolite
(oxide) intercept of 12 m grading 10.32 g/t gold from a down-hole
depth of 18 m in #KBDD12198 within the central portion of the zone;
and intercepts of 19 m grading 3.26 g/t gold and 26 m grading 3.06
g/t gold from down-hole depths of 36 m and 33 m in holes #KBDD12203
and #KBDD12205, respectively at the ENE extremity of the zone
(drill fence with 30 m collar separation). All holes, with the
exception of #KBDD12204 (NW-trending), consist of SE-trending
boreholes with -50o to -70o inclinations. Gold mineralization is
associated with quartz-albite-carbonate-sulphide veining developed
within a rock body of quartz diorite composition.
Current on-going drilling has traced the mineralization an
additional 50 m to the ENE of the #KBDD12201-KBDD12203-KBDD12205
section in holes #KBDD12231, #KBDD12233, and #KBDD12234; with these
holes still in the process of being logged and sampled. Drilling /
trenching to date appears to indicate that the Double 19 Zone
consists of a ENE-plunging, en-echelon, mineralized vein system
traced to date over an approximately 165 m strike length and
approximately 150 m down plunge distance from surface.
Orange No. 5 Shear Zone (Zone 4 Gold-In-Soil
Anomaly)
Recent scout drilling efforts to test high priority geophysical,
soil geochemical, and geological targets along the 3.5 km long Zone
4 gold trend located within the south-western portion of the Apapam
Mining Lease identified a prominent sulphide-bearing shear zone
centred on a strongly iron-carbonate altered quartz feldspar
porphyry sill ("QFP") emplaced along and/or proximate to the
contact between intercalated greywacke/siltstone and graphitic
phyllite rock sequences.
The NE-trending, pyritic/graphitic, Orange No. 5 shear zone has
thus far been traced over an approximately 300 m strike length and
approximately 160 m down-dip extension from surface (approx. 125 m
vertical) by 5 boreholes. The mineralized structure exhibits a high
chargeability / high conductivity induced polarization ("IP")
signature and is spatially associated with a prominent Versatile
Time Domain Electromagnetic (VTEM) resistivity/conductivity
break. The spatial relationship of the Orange No. 5 shear zone
with a QFP body constitutes a classical orogenic lode gold setting
and demonstrates the multi-style mineralization potential of the
Kibi Gold project. Assay results for the 5 holes are pending from
the laboratory.
Akwadum South / Akim Apapam Gold-In-Soil Anomaly
Proofing
The ongoing 2011 – 2012 Phase II Apapam soil sampling program
(see March 16, 2012 news release) has produced 2 prominent,
tight/linear, gold-in-soil anomalies persistently traceable over
lengths of 1,200 m and extending over widths of 150 m to 250 m,
including: the Akwadum South anomaly located at the southeast
extremity of the Apapam Mining Lease; and the Akim Apapam anomaly
located within the central portion of the namesake reconnaissance
license.
These gold-in-soil anomalies exhibit spatial relationships with
areas of structural complexity identified by an aeromagnetic (+/-
VTEM, Radiometric) - based regional structure study conducted by
SRK Consulting (Canada) Inc. in 2011 on behalf of Xtra-Gold;
particularly with intersections between major D2-D5 fault corridors
and major, late, E-W trending D6 faults. A scout trenching and
deep hand auger (5 m) sampling program designed to test the
subsurface geochemical signature and geological setting of the
Akwadum South and Akim Apapam gold-in-soil anomalies is scheduled
for initiation on or around April 27, 2012.
A mineralization map is available on the Company's website at
www.xtragold.com.
Yves P. Clement, P. Geo, Vice President, Exploration for
Xtra-Gold is acting as the Qualified Person in compliance with
National Instrument 43-101 ("NI 43-101") with respect to this
announcement. He has prepared and or supervised the preparation of
the scientific or technical information in this announcement and
confirms compliance with NI 43-101. The NI 43-101 Technical Report
entitled "Kibi Project, Eastern Region, Ghana", prepared by Simon
Meadows Smith and Joe Amanor of SEMS and dated July 12, 2010 is
filed under the Company's profile on SEDAR at www.sedar.com.
Xtra-Gold has implemented a rigorous quality assurance / quality
control (QA/QC) program to ensure best practices in sampling and
analysis of drill core, reverse circulation ("RC") samples, and
trench channel samples, the details of which can be viewed on the
Company's website at www.xtragold.com.
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a substantial land
position in the Kibi greenstone belt ("Kibi Gold Belt") located in
Ghana, West Africa. The Kibi Gold Belt, which exhibits many similar
geological features to Ghana's main gold belt, the Ashanti Belt has
been the subject of very limited modern exploration activity
targeting lode gold deposits as virtually all past gold mining
activity and exploration efforts focused on the extensive alluvial
gold occurrences in many river valleys throughout the Kibi
area.
Xtra-Gold holds five (5) Mining Leases totaling approximately
226 sq km (22,600 ha) at the northern extremity of the Kibi Gold
Belt. The Company's exploration efforts to date have focused on the
Kibi Project located on the Apapam Concession (33.65 sq. km), along
the eastern flank of the Kibi Gold Belt. Xtra-Gold's Kibi Project
consists of an over 5.5 km long mineralized trend delineated from
gold-in-soil anomalies, geophysical interpretations, trenching and
drilling along the northwest margin of the Apapam Concession.
Forward-Looking Statements
The TSX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This News Release includes certain
"forward-looking statements". These statements are based on
information currently available to the Company and the Company
provides no assurance that actual results will meet management's
expectations. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes",
"anticipates", "expects", "estimates", "may", "could", "would",
"will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results relating to, among other things, results of exploration,
project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and
prospects, could differ materially from those currently anticipated
in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with the activities of the
Company; and other matters discussed in this news release. This
list is not exhaustive of the factors that may affect any of the
Company's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue
reliance on the Company's forward-looking statements. The Company
does not undertake to update any forward-looking statement that may
be made from time to time by the Company or on its behalf, except
in accordance with applicable securities laws.
CONTACT: For further information please contact:
Paul Zyla, Chief Executive Officer
Telephone: 416 366-4227
E-mail: info@xtragold.com
Website: www.xtragold.com
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