Xtra-Gold Discovers New High-Grade Gold Shear Zone at Its Kibi Gold Project in Ghana, West Africa
2012年11月12日 - 10:00PM
Xtra-Gold Resources Corp. ("Xtra-Gold" or the
"Company") (TSX:XTG) (OTCBB:XTGR), is very pleased to
announce gold results from initial trenching and surface channel
sampling on a newly discovered high-grade shear zone lying within
the recently defined Zone 5 gold-in-soil anomaly on 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 trenching and bedrock channel sampling results
reported today include:
- 20.5 m grading 7.26 grams per tonne ("g/t") gold, including
12.26 g/t over 6.5 m, in trench #TCK001; and 6.7 m grading 32.32
g/t gold, including 82.22 g/t over 2 m, in trench #TCK002
(High-Grade Gold Shoot);
- Saw-cut channel sample composites grading 33.21 g/t gold over
2.4 m in #KBCS023, 15.13 g/t gold over 4.3 m in #KBCS024, 8.68 g/t
gold over 4.9 m in #KBCS025, and 6.74 g/t gold over 9 m in
#KBCS027; and rock chip channel sample composites grading 8.9 g/t
gold over 4 m in #KBLC010, 7.69 g/t gold over 4 m in #KBLC012,
16.14 g/t gold over 3 m in #KBLC014, and 40.6 g/t gold over 2.3 m
in #KBLC016 (High-Grade Gold Shoot);
- Gold-bearing shear zone traced to date over an approximately
300 meter strike length, with present sampling defining a
high-grade gold shoot over a minimum 70 meter strike distance.
Auriferous shear zone spatially associated with the approximately
1.8 km long, NE-trending Zone 5 gold-in-soil anomaly.
Paul Zyla, Xtra-Gold's President and CEO commented, "The
discovery of this new high-grade classical shear zone hosted gold
mineralization within the recently defined Zone 5 gold-in-soil
anomaly is very exciting as it represents a significant find of
another gold mineralization type in a completely new area."
The high-grade shear zone was discovered during follow up
prospecting of the Zone 5 gold-in-soil anomaly yielded by a
recently completed property-wide soil geochemical survey.
High-grade grab samples collected during the prospecting phase
prompted the initiation of systematic outcrop channel sampling and
first pass trenching. To date, the northeast striking gold-bearing
structure has been traced by outcrop and trench sampling over an
approximately 300 meter distance, with the shear zone exhibiting an
apparent braided geometry locally attaining approximately 30 m in
width. Work to date has defined a high-grade gold shoot over a
minimum 70 meter strike distance along the Zone 5 shear zone. The
auriferous shear zone is spatially associated with an approximately
1.8 km long, NE-trending gold-in-soil anomaly. A parallel, untested
gold-in-soil anomaly, lying approximately 300 m to the northwest,
may reflect a parallel structure. Significant trench intercepts are
presented in Table 1 and length weighted average grades for the
composite channel sample strings are presented in Table 2.
|
Table
1: Significant Trench Intercepts - Kibi Gold
Project |
(Zone 5 Shear
Zone) |
Trench ID |
From (meters) |
To (meters) |
Trench Length
(meters) |
Gold Grams Per
Tonne |
Material Type |
TCK001 |
9.5 |
30 |
20.5 |
7.26 |
Transition Zone |
including |
22.5 |
29 |
6.5 |
12.26 |
|
And |
41 |
41.5 |
0.5 |
4.98 |
|
TCK002 |
20.3 |
27 |
6.7 |
32.32 |
Fresh Rock |
including |
23 |
25 |
2 |
82.22 |
|
And |
29 |
29.5 |
0.5 |
3.45 |
|
TCK005 |
2 |
18 |
16 |
1.17 |
Transition Zone |
including |
17 |
18 |
1 |
6.15 |
|
CCRS001 |
8 |
20.5 |
12.5 |
1.28 |
Transition Zone - Fresh |
including |
14.7 |
15.2 |
0.5 |
6.98 |
Rock |
Notes: |
Reported intercepts are
trench - 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 meters of internal dilution (less
than 0.25 g/t gold). |
Sampling in softer
Transition Zone material consists of channels collected from a
canal excavated along the bottom sidewall of the trench; and in
Fresh Rock sampling consists of chip channels collected from the
trench floor and/or lower sidewall. Sample length nominally
0.5 m in mineralized material. |
Trench #TCK001, consisting of an easterly trending trench at an
oblique angle to the NE-trending structural zone, returned a
mineralized intercept of 20.5 m grading 7.26 g/t gold, including
12.26 g/t over 6.5 m. A second gold zone defined by the 4.98 g/t
gold over 0.5 m intercept at the 41 meter mark of #TCK001 and
outcrop chip channel sample string #KBLC008 (4.32 g/t gold over 2.6
m), located immediately north of the trench, is present along the
southeast flank of the composite-type shear zone. Trench #TCK002
consisting of a SE-trending trench centered approximately 20 m
northeast of trench #TCK001 returned a high-grade mineralized
intercept of 6.7 m grading 32.32 g/t gold, including 82.22 g/t over
2 m. The 3.45 g/t gold over 1 m intercept at the south-eastern
extremity of the #TCK002 trench (29.0 m), in combination with
outcrop chip channel strings #KBLC019 and #KBLC011, yielding 4.57
g/t gold over 1 m and 2.31 g/t gold over 4 m, respectively, define
the second gold zone extending over an approximately 6.5 meter
distance along the southeast flank of the high-grade gold shoot.
Road Cut #CCRS001, designed to test the strike extension of the
structure approximately 50 m to the southwest of the high-grade
gold shoot outcrop area, returned a mineralized intercept of 12.5
m, grading 1.28 g/t gold, including 6.98 g/t gold over 0.5 m.
Systematic trenching and/or drilling will be required to accurately
determine the full mineralized width and grade of the braided,
composite-type shear zone.
The surface channel sampling reported today corresponds to 178
bedrock samples collected along outcrops exposing an approximately
70 meter strike extension of the high-grade gold shoot. Channel
sampling is semi-continuous along and/or across the structure
reflecting the intermittent bedrock exposure. The present sampling
comprises 50 saw-cut channel samples and 128 rock chip channel
samples totaling 97 m. In aggregate, these samples form 25
composite channel strings ranging from one to 9 m in length, with
individual channel samples averaging 0.55 m in length.
Of the 178 bedrock surface channel samples collected: 35 (20%)
returned less than 0.5 g/t gold; 55 (31%) returned gold values
between 0.5 g/t to 3 g/t; 51 (29%) between 3 g/t and 10 g/t gold;
26 (14%) between 10 g/t to 30 g/t gold; 9 (5%) between 30 g/t and
50 g/t gold; and 2 samples returned values over 50 g/t gold (111.03
g/t maximum). The length weighted average grade of all the channel
samples is 7.29 g/t gold.
|
Table 2: Channel
Sample Composites - Kibi Gold Project |
(Zone 5 Shear
Zone) |
Sample String
ID |
Sample Type |
From (meters) |
To (meters) |
Sampled Length
(meters) |
Gold Grams Per
Tonne |
KBCS023 |
Saw-Cut Channel |
0 |
2.4 |
2.4 |
33.21 |
KBCS024 |
Saw-Cut Channel |
0.2 |
4.5 |
4.3 |
15.13 |
KBCS025 |
Saw-Cut Channel |
0 |
4.9 |
4.9 * |
8.68 |
KBCS026 |
Saw-Cut Channel |
0 |
7 |
7 * |
6.31 |
KBCS027 |
Saw-Cut Channel |
0 |
9 |
9 * |
6.74 |
KBLC001 |
Chip Channel |
0 |
3 |
3 |
3.74 |
KBLC002 |
Chip Channel |
0 |
4.5 |
4.5 |
3.25 |
KBLC003 |
Chip Channel |
0 |
6 |
6 |
2.44 |
KBLC004 |
Chip Channel |
0 |
2 |
2 |
1.74 |
KBLC005 |
Chip Channel |
0 |
3.5 |
3.5 |
7.29 |
KBLC006 |
Chip Channel |
0 |
4 |
4 |
1.06 |
KBLC007 |
Chip Channel |
0 |
3 |
3 |
2.14 |
KBLC008 |
Chip Channel |
0 |
2.6 |
2.6 |
4.32 |
KBLC009 |
Chip Channel |
0.5 |
2.5 |
2 |
7.13 |
KBLC010 |
Chip Channel |
0 |
4 |
4 |
8.90 |
KBLC011 |
Chip Channel |
0 |
4 |
4 |
2.31 |
KBLC012 |
Chip Channel |
0 |
4 |
4 |
7.69 |
KBLC013 |
Chip Channel |
0 |
5 |
5 |
3.32 |
KBLC014 |
Chip Channel |
0 |
3 |
3 |
16.14 |
|
|
|
|
|
|
|
Sample String
ID |
Sample Type |
From (meters) |
To (meters) |
Sampled Length
(meters) |
Gold Grams Per
Tonne |
KBLC015 |
Chip Channel |
0 |
1.5 |
1.5 |
7.49 |
KBLC016 |
Chip Channel |
0.7 |
3 |
2.3 |
40.60 |
KBLC017 |
Chip Channel |
0 |
4.5 |
4.5 |
4.14 |
KBLC018 |
Chip Channel |
0 |
2.2 |
2.2 |
8.72 |
KBLC019 |
Chip Channel |
0 |
1 |
1 |
4.57 |
KBLC020 |
Chip Channel |
0 |
1 |
1 |
18.05 |
Notes: |
Due to irregular bedrock
surface, the reported intercepts are sample intersection lengths
irrespective of mineralization topography and may not represent
true width of mineralization. |
Individual channel samples
average 0.55 m in length. Assay values are uncut (i.e. no
grade capping has been applied). |
* Sample
strings contain intervals of no sampling reflecting cumulative
length of any gaps in outcrop exposure, including gaps of: 0.4 m in
#KBCS025; 0.8 m in #KBCS026; and 1.9 m in #KBCS027. All
non-sampled intervals have been assigned a grade of zero for the
purposes of compositing. |
Trenching and systematic outcrop sampling is ongoing to further
define the strike extension of the gold-bearing structure along the
1.8 km long Zone 5 gold-in-soil anomaly, and detailed
geological/structural mapping is in progress to further define the
mineralization controls in the high-grade gold shoot. A detailed
ground magnetometer survey covering the Zone 5 anomaly area has
been initiated and an induced polarization ("IP") survey is in the
planning stage.
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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