Xtra-Gold Intercepts 50.5 Metres of 2.03 g/t Gold and 28 Metres of 3.14 g/t Gold on Zone 3 of Its Kibi Gold Project in Ghana,...
2012年6月19日 - 9:05PM
Xtra-Gold Resources Corp. ("Xtra-Gold" or the
"Company") (TSX:XTG) (OTCBB:XTGR), is very pleased to
report that recent diamond drilling indicates good down-plunge
continuity of gold grades on the Double 19 Shoot 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.
Today's assay results for a 3 hole drill section (489 m)
successfully expanded the high grade Double 19 gold shoot to a
down-plunge distance of approximately 150 m from surface. Rush
assay service was requested on these 3 holes so the assay results
would help guide follow up drilling efforts. Highlights of the
drill results reported today include:
- 50.5 m grading 2.03 grams per tonne ("g/t") gold, including
4.71 g/t gold over 14 m, in #KBDD12231 from 57.5 m down-hole
(Double 19 Shoot);
- 28 m grading 3.14 g/t gold, including 5.01 g/t gold over 12 m,
in #KBDD12233 from 39 m down-hole (Double 19 Shoot);
- Drilling / trenching to date appears to indicate that the high
grade Double 19 gold shoot consists of a moderately, ENE-plunging
vein system centred on an apparent fold nose developed within the
host diorite body; with the gold shoot having an asymmetrical
convex geometry possibly reflecting a fold-hinge stockwork vein
zone; and
- 2 new, typical Kibi-type, diorite – hosted, quartz stockwork
systems discovered proximal to Double 19 gold shoot within Zone 3 –
East gold-in-soil anomaly.
|
Significant Drill
Intercepts - Kibi Gold Project Double 19 Gold
Shoot (Zone 3 - East) |
Hole ID |
From (metres) |
To (metres) |
Core Length
(metres) |
Gold Grams Per
Tonne |
Comment |
KBDD12231 |
57.5 |
108 |
50.5 |
2.03 |
Fresh Rock (Sulphide) |
including |
69 |
96 |
27 |
3.15 |
|
and including |
73 |
87 |
14 |
4.71 |
|
KBDD12233 |
39 |
67 |
28 |
3.14 |
Fresh Rock (Sulphide) |
including |
54 |
66 |
12 |
5.01 |
|
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|
Hole ID |
From (metres) |
To (metres) |
Core Length
(metres) |
Gold Grams Per
Tonne |
Comment |
And |
138 |
148 |
10 |
1.47 |
|
including |
139 |
142 |
3 |
3.05 |
|
KBDD12234 |
35.5 |
62.3 |
26.8 |
2.69 |
Fresh Rock (Sulphide) |
including |
38 |
49 |
11 |
4.73 |
|
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. |
The Double 19 gold shoot 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. A map depicting the location of the
Double 19 shoot in relation to the Zone 2 mineralization zones has
been posted on the Company website (see April 24, 2012 news
release).
The present drilling located approximately 50 m northeast of the
KBDD12201-203-205 section was designed to further test the
down-plunge extension of the mineralization and gain additional
insight on the geometry and structural controls of the gold
shoot. The KBDD12201-203-205 section yielded mineralized
intercepts of 19 m grading 3.26 g/t gold and 26 m grading 3.06 g/t
gold, including 5.67 g/t gold over 10 m, in holes #KBDD12203 and
#KBDD12205, respectively (see April 24, 2012 news release).
The 3 hole, scissor-pattern, drill section encompasses a
SE-trending borehole (#KBDD12231) and a pair of NW-trending,
vertical fan boreholes (#KBDD12233 - #KBDD12234) collared
approximately 80 m to the southeast, and at a 30 m lower elevation,
than the #KBDD12231 collar position. Hole #KBDD12231 (-55o)
returned a mineralized intercept of 50.5 m grading 2.03 g/t
gold, including 4.71 g/t gold over 14 m, from a down-hole depth of
57.5 m. The upper #KBDD12233 borehole (-60o) of the #KBDD12233-234
vertical fan pattern returned an intercept of 28 m grading 3.14 g/t
gold, including 5.01 g/t gold over 12 m, from a down-hole depth of
39 m, and the steeper #KBDD12234 hole (-75o) yielded an intercept
of 26.8 m grading 2.69 g/t gold, including 4.73 g/t gold over 11 m,
from a down-hole depth of 35.5 m; with both these intercepts
cross-cutting the lower portion of #KBDD12231 mineralized
intercept. Borehole #KBDD12233 returned a second, deeper
intercept of 10 m grading 1.47 g/t gold from a down-hole depth of
138 m but insufficient drilling information is available at this
time to determine if this mineralization forms part of the Double
19 shoot or reflects a new deeper gold zone.
Drilling / trenching to date appears to indicate that the Double
19 shoot consists of a moderately, ENE-plunging vein system centred
on an apparent fold nose developed within the host diorite body;
with the gold shoot having an asymmetrical convex geometry possibly
reflecting a fold-hinge stockwork vein zone. Today's drilling
results extends the Double 19 shoot to a down-plunge distance of
approximately 150 m from surface; with the relatively shallow
vertical depths of the mineralized intercepts reflecting the
position of the zone along a steep slope exhibiting approximately
80 m in topographical relief.
Recent trenching efforts on the Zone 3 – East gold-in-soil
anomaly discovered 2 new, typical Kibi-type, diorite – hosted,
quartz stockwork systems located approximately 100 m west-southwest
(Trench #TAD031) and 250 m north-northwest (Trench #TAD036) of the
Double 19 gold shoot, respectively. Assay results for these
trenches are pending from the laboratory. Mechanized
trenching and geological mapping is currently ongoing on these new
prospective zones to further define the structural controls of the
mineralization and the geometry of the host diorite bodies.
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 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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