Xtra-Gold Resources Corp. ("Xtra-Gold" or the
"Company") (TSX:XTG) (OTCQB:XTGRF) is very pleased to
announce channel sampling results from a new exposure of the Main
Shear, in addition to initial channel sample results from 6
recently identified shear zones forming part of the Zone 5 Gold
Corridor, on the Company's wholly-owned Kibi Gold Project, located
in the Kibi – Winneba greenstone belt (the "Kibi Gold Belt"), in
Ghana, West Africa. Highlights of the channel sampling results and
Zone 5 Gold Corridor expansion work reported today include:
- New gold shoot discovered along Main Shear approximately 350 m
southwest of discovery high-grade gold shoot; with shear consisting
of braided (anastomosing) structure attaining 13 m in width and
encompassing 4 sinuous mylonitic branches ranging from
approximately 0.4 m to 4 m in width. Highlights from channel
sampling of mylonitic shear branches include: 2.5 m grading 4.71
g/t gold and 3.9 m grading 5.9 g/t gold in channel sample strings
#KBCS080-7 and #KBCS080-9, respectively (SE Branch); 1.1 m grading
14.77 g/t gold, including 26.1 g/t gold over 0.5 m in #KBCS080-18
(Central Branch); and 1.5 m grading 10.47 g/t gold, including 20.4
g/t gold over 0.5 m and 1.6 m grading 11.14 g/t gold, including
17.8 g/t gold over 0.8 m in strings #KBCS080-2 and #KBCS080-5,
respectively (NW Branch).
- Geological mapping/sampling to date indicates that the Zone 5
Gold Corridor corresponds to a minimum 325 m wide braided shear
zone system encompassing at least 7 auriferous shear zones; with
the Main Shear traced to date over an approximately 475 m strike
length. The auriferous shear zone system is spatially associated
with an approximately 1.8 km long by 300 m to 800 m wide,
NE-trending, anomalous gold-in-soil trend.
- Extensive arrays of mineralized low-angle extensional
quartz-tourmaline veins spatially associated with all 7 shear
zones; greatly enhancing the bulk mining potential of the Zone 5
Gold Corridor.
The present exploration results correspond to an ongoing
mechanized outcrop stripping / trenching transect designed to test
the southwestern strike extension of the Main Shear and define the
full width extent of the NE-trending Zone 5 Gold Corridor.
Approximately 65% (325 m) of the planned 500 m long, NW-trending
transect located approximately 350 m southwest of the discovery
high-grade gold shoot has been completed to date; with the transect
positioning based on favorable topography in combination with
shallow overburden cover, previously identified gold-bearing
structures, and priority geophysical targets.
Geological mapping and grab / channel sampling of the bedrock
exposed to date along the transect has identified 7 auriferous
structures distributed over an approximately 325 m width of the
Zone 5 structural corridor; including the apparent southwestern
strike extension of the Main Shear. The structures consist of
sinuous anastomosing shear zones ranging from approximately 1 m to
13 m in width and containing irregular steeply dipping veins,
stringers, and lenses of quartz plus/minus iron carbonate and
tourmaline. Extensive arrays of mineralized low-angle extensional
veins are spatially associated with the controlling vertical shear
veining.
The apparent southwestern strike extension of the Main Shear was
exposed over an approximately 55 m strike length within the
southeastern portion of the outcrop stripping / trenching transect,
approximately 350 m southwest of the discovery high-grade gold
shoot. At this locality, the Main Shear consists of a braided
(anastomosing) structure attaining 13 m in width and encompassing 4
sinuous high shear strain branches ranging from approximately 0.4 m
to 4 m in width; bounding relatively less deformed/altered rock
lozenges. The NE-trending, steeply SE dipping, pinch and swell high
strain branches range from silicified / carbonatized mylonitic rock
containing irregular quartz-tourmaline veining / lenses to
sericite-iron carbonate-pyrite schist hosting parallel quartz
veining. Arrays of mineralized low-angle extensional
quartz-tourmaline veins cross-cut the mylonitic zones and visually
extend up to 10 m into the wall rock.
A total of 152 bedrock saw-cut channel samples totaling 86 m
were collected over an approximately 40 m strike distance of the
new Main Shear exposure, including 52 vertical or steeply inclined
channel samples (28 m) collected on outcrop ledge faces to test
low-angle extensional veining arrays. In aggregate these samples
form 51 composite channel strings ranging from 0.20 m to 7.6 m in
length, with individual channel samples averaging approximately
0.55 m in length. Of the 152 channel samples collected: 5 (3%)
yielded less than 0.01 g/t gold; 28 (19%) returned gold values from
0.01 g/t to 0.1 g/t; 58 (38%) between 0.1 g/t and 1.0 g/t gold; 18
(12%) between 1 g/t and 2 g/t gold; 23 (15%) between 2 g/t and 5
g/t gold; 14 (9%) between 5 g/t and 10 g/t gold; 4 (2.5%) between
10 g/t and 20 g/t gold; and 2 samples (1.5%) returned values over
20 g/t gold (26.1 g/t maximum).
Highlights from a series of channel samples collected from the
respective mylonitic branches over an approximately 20 m strike
length include mineralized intercepts of: 2.5 m grading 4.71 g/t
gold and 3.9 m grading 5.9 g/t gold in channel sample strings
#KBCS080-7 and #KBCS080-9, respectively (SE Branch); 1.1 m grading
14.77 g/t gold, including 26.1 g/t gold over 0.5 m in #KBCS080-18
(Central Branch); 1.5 m grading 10.47 g/t gold, including 20.4 g/t
gold over 0.5 m and 1.6 m grading 11.14 g/t gold, including 17.8
g/t gold over 0.8 m in strings #KBCS080-2 and #KBCS080-5,
respectively (NW Branch); and 0.4 m grading 2.08 g/t gold in sample
string #KBCS080-21(NW-2 Branch). The highly accidented bedrock
surface, including overburden filled crevices, is typically
non-conducive to continuous channel sampling across the width of
the structure; with the less deformed/altered rock between the
shear branches typically being recessively weathering. Local
sampling of the inter-shear branch rock where possible yielded gold
values in the 0.1 g/t to 1.5 g/t range. See Table 1 for the full
listing of significant mineralized intercepts from the respective
mylonitic zones and intercepts yielded by vertical channel sampling
targeting sub-horizontal extensional veining.
| |
| Table 1:
Saw-Cut Channel Sample Composites - Zone 5 -- Main
Shear |
| Sample String
ID |
From (meters) |
To (meters) |
Sampled Length
(meters) |
Gold Grams Per
Tonne |
Shear Branch/
Comments |
| KBCS080-7 |
1.5 |
4.0 |
2.5 |
4.71 |
SE Branch |
| including |
2.0 |
2.5 |
0.5 |
12.35 |
|
| KBCS080-8 |
0.0 |
3.0 |
3.0 |
3.39 |
SE Branch |
| including |
2.4 |
3.0 |
0.6 |
11.05 |
|
| KBCS080-9 |
0.6 |
4.5 |
3.9 |
5.90 |
SE Branch |
| including |
0.6 |
1.0 |
0.4 |
11.25 |
|
| KBCS080-10 |
0.5 |
4.5 |
4.0 |
3.12 |
SE Branch |
| including |
1.9 |
3.0 |
1.1 |
5.82 |
|
| KBCS080-11 |
1.4 |
3.3 |
1.9 |
5.72 |
SE Branch |
| including |
1.4 |
1.8 |
0.4 |
8.89 |
|
| including |
2.3 |
2.8 |
0.5 |
8.84 |
|
| KBCS080-13 |
0.0 |
2.5 |
2.5 |
2.63 |
SE Branch |
| including |
1.6 |
2.5 |
0.9 |
4.82 |
|
| KBCS080-1 |
0.0 |
0.5 |
0.5 |
7.41 |
Central Branch |
| KBCS080-3 |
0.5 |
1.1 |
0.6 |
3.97 |
Central Branch |
| KBCS080-18 |
0.0 |
1.1 |
1.1 |
14.77 |
Central Branch |
| including |
0.6 |
1.1 |
0.5 |
26.10 |
|
| KBCS080-2 |
0.0 |
1.5 |
1.5 |
10.47 |
NW Branch |
| including |
0.5 |
1.0 |
0.5 |
20.40 |
|
| KBCS080-5 |
0.0 |
1.6 |
1.6 |
11.14 |
NW Branch |
| including |
0.8 |
1.6 |
0.8 |
17.80 |
|
| KBCS080-4 |
0.0 |
2.8 |
2.8 |
1.76 |
NW Branch |
| including |
1.3 |
1.8 |
0.5 |
4.36 |
|
| KBCS080-16 |
0.0 |
2.4 |
2.4 |
2.56 |
NW Branch |
| including |
0.0 |
0.6 |
0.6 |
6.59 |
|
| KBCS080-21 |
0.0 |
0.4 |
0.4 |
2.08 |
NW-2 Branch |
| KBCS080-2V |
0.0 |
1.0 |
1.0 |
3.09 |
Flat Veins |
| including |
0.0 |
0.5 |
0.5 |
5.61 |
|
| KBCS080-4V |
0.0 |
1.0 |
1.0 |
1.26 |
Flat Veins |
| KBCS080-7V |
0.0 |
1.0 |
1.0 |
0.86 |
|
| KBCS080-V8 |
0.0 |
1.2 |
1.2 |
2.72 |
Flat Veins |
| KBCS080-V6 |
0.0 |
2.8 |
2.8 |
1.44 |
Flat Veins |
| including |
2.0 |
2.8 |
0.8 |
2.83 |
|
| KBCS080-V21 |
0.0 |
0.4 |
0.4 |
2.91 |
Flat Veins |
| 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. |
| Channel String ID with "V" corresponds
to vertical or steeply inclined channel sampling targeting
low-angle extensional veining. |
A total of 428 bedrock saw-cut channel samples totaling 253 m
were collected from the remaining 6 shear zones emplaced within the
Zone 5 Gold Corridor, including 25 vertical or steeply inclined
channel samples (14.5 m) collected on outcrop ledge faces to test
low-angle extensional veining. In aggregate these samples form 123
composite channel strings ranging from 0.20 m to 25 m in length,
with individual channel samples averaging approximately 0.60 m in
length. Sampling to date ranges from widespread scout channel
sampling to detail channel sampling on 3 structures, respectively.
Of the 428 channel samples collected: 12 (3%) yielded less
than 0.01 g/t gold; 205 (48%) returned gold values from 0.01 g/t to
0.1 g/t; 159 (37%) between 0.1 g/t and 1.0 g/t gold; 18 (4%)
between 1 g/t and 2 g/t gold; 23 (5%) between 2 g/t and 5 g/t gold;
10 (2%) between 5 g/t and 10 g/t gold; and 1 sample returned a
maximum value of 11.5 g/t gold.
The 6 parallel shear zones are characterized by widespread
anomalous gold values in the 0.1 g/t to 1.0 g/t range (37% of
samples) with localized higher grade values attaining 11.5 g/t
gold. Channel sampling highlights on the respective
structures include mineralized intercepts of: 1.2 m grading 5.93
g/t gold and 1 m grading 6.39 g/t gold in channel sample strings
#KBCS035 and #KBCS045, respectively (L7675 Shear); 0.8 m
grading 8.83 g/t gold in sample string #KBCS078-2 (L7600W Shear);
0.5 m grading 9.76 g/t gold in #KBCS077-1 (Old Pit Shear); 1.1 m
grading 3.83 g/t gold, including 6 g/t gold over 0.6 m in
#KBCS076-31 (L7600E Shear); and 0.8 m grading 2.58 g/t gold in
sample string #KBCS076-50 (Main-East Shear). See Table 2 for
the full listing of significant mineralized intercepts from these 6
shear zones.
Highlights of vertical channel sampling across low-angle
extensional veining arrays spatially associated with the
controlling vertical shear veining include: 1.1 m grading 3.51 g/t
gold and 0.8 m grading 6.85 g/t gold in sample strings #KBCS077-V1
and #KBCS077-V2, respectively (Old Pit Shear); 0.4 m grading 2.45
g/t gold in #KBCS079-V1 (L7600W Shear); and 1.3 m grading 4.15 g/t
gold in string #TCK008-V-47.7 (L7700 Shear). In the case of the
L7700 shear a set of 3 vertical channel sample strings returned
considerably higher gold values ranging from 1.17 g/t to 4.15 g/t
over 0.7 m to 1.3 m lengths; than the 0.27 g/t gold over 2 m
yielded by the vertical shear vein.
In addition to channel sampling, a total of 137 rock grab
samples were also collected from the 7 shear zones as part of first
pass sampling to guide subsequent channel sampling. Of the
137 quartz veining and silica-iron carbonate-pyrite altered wall
rock grab samples collected: 26 (19%) yielded less than 0.01 g/t
gold; 40 (29%) returned gold values from 0.01 g/t to 0.1 g/t; 24
(18%) between 0.1 g/t and 1.0 g/t gold; 26 (19%) between 1 g/t and
5 g/t gold; 14 (10%) between 5 g/t and 10 g/t gold; and 7 (5%)
samples returned gold values between 10 g/t and 19.85 g/t.
| |
| Table 2:
Saw-Cut Channel Sample Composites Zone 5 -New / Parallel
Shear Zones |
| Sample String
ID |
From (meters) |
To (meters) |
Sampled Length
(meters) |
Gold Grams Per
Tonne |
Shear ID /
Comments |
| KBCS034 |
3.0 |
4.5 |
1.5 |
1.73 |
L7675 |
| including |
4.0 |
4.5 |
0.5 |
3.86 |
|
| KBCS035 |
0.9 |
2.1 |
1.2 |
5.93 |
L7675 |
| KBCS036 |
0.5 |
1.6 |
1.1 |
1.23 |
L7675 |
| KBCS037 |
3.0 |
5.3 |
2.3 |
2.45 |
L7675 |
| including |
3.0 |
3.5 |
0.5 |
5.57 |
|
| KBCS039 |
1.5 |
10.5 |
9.0 |
0.63 |
L7675 |
| including |
10.0 |
10.5 |
0.5 |
3.98 |
|
| KBCS040 |
2.0 |
3.5 |
1.5 |
1.47 |
L7675 |
| KBCS041 |
2.0 |
2.5 |
0.5 |
3.27 |
L7675 |
| KBCS045 |
1.2 |
2.2 |
1.0 |
6.39 |
L7675 |
| KBCS056 |
0.5 |
1.5 |
1.0 |
2.33 |
L7675 |
| KBCS057 |
0.0 |
0.5 |
0.5 |
9.99 |
L7675 |
| KBCS076-31 |
0.0 |
1.1 |
1.1 |
3.83 |
L7600E |
| including |
0.0 |
0.6 |
0.6 |
6.00 |
|
| KBCS076-47 |
2.2 |
4.5 |
2.3 |
1.00 |
L7600E |
| KBCS076-50 |
1.1 |
1.9 |
0.8 |
2.58 |
Main-East |
| KBCS077-1 |
0.0 |
0.5 |
0.5 |
9.76 |
Old Pit |
| KBCS077-V1 |
0.0 |
1.1 |
1.1 |
3.51 |
Old Pit; Flat Veins |
| KBCS077-V2 |
0.0 |
0.8 |
0.8 |
6.85 |
Old Pit; Flat Veins |
| KBCS077-V3 |
0.0 |
0.6 |
0.6 |
4.63 |
Old Pit; Flat Veins |
| KBCS059-2 |
0.0 |
0.8 |
0.8 |
1.83 |
L7600W |
| KBCS078-2 |
0.0 |
0.8 |
0.8 |
8.83 |
L7600W |
| KBCS078-3 |
0.0 |
1.0 |
1.0 |
3.74 |
L7600W |
| KBCS079-1 |
0.7 |
3.6 |
2.9 |
1.11 |
L7600W |
| including |
0.7 |
1.2 |
0.5 |
3.07 |
|
| including |
2.4 |
2.8 |
0.4 |
2.92 |
|
| KBCS079-6 |
0.0 |
0.5 |
0.5 |
4.53 |
L7600W |
| KBCS079-V1 |
0.0 |
0.4 |
0.4 |
2.45 |
L7600W; Flat Veins |
| KBCS079-V2 |
0.0 |
0.5 |
0.5 |
1.51 |
L7600W; Flat Veins |
| TCK008-V-45.7 |
0.6 |
1.8 |
1.2 |
1.48 |
L7700; Flat Veins |
| TCK008-V-46.7 |
1.0 |
1.7 |
0.7 |
1.17 |
L7700; Flat Veins |
| TCK008-V-47.7 |
0.0 |
1.3 |
1.3 |
4.15 |
L7700; Flat Veins |
| 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. |
| Channel String ID with "V" corresponds
to vertical or steeply inclined channel sampling targeting
low-angle extensional veining. |
Preliminary geological observation indicate that the Zone 5 Gold
Corridor corresponds to a minimum 325 m wide, multi-structure,
braided shear zone system emplaced along a quartz feldspar porphyry
("QFP") body; with the Main Shear traced to date over an
approximately 475 m strike length. The auriferous shear zone
system is spatially associated with an approximately 1.8 km long by
300 m to 800 m wide, NE-trending, anomalous gold-in-soil trend
centered on a moderate magnetic / high radiometric airborne
geophysical signature appearing to delineate the QFP body.
Outcrop stripping / trenching continues on the planned 500 m
long transect to determine the full width extent of the Zone 5 Gold
Corridor; as well as detail geological mapping and channel sampling
of the auriferous shears identified to date. Infill soil
geochemical sampling and prospecting is also in progress on newly
established detail (100 m) grid lines covering the 1.8 km long Zone
5 gold-in-soil anomaly. A 30 km pole-dipole induced
polarization (IP) survey covering a 2.2 km by 1.0 km – 1.5 km grid
at 100 m spacing was completed by Sagax Afrique S.A. in February
2013; with the final results and interpretation still pending.
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 "Independent Technical Report,
Apapam Concession, Kibi Project, Eastern Region, Ghana," prepared
by SEMS Explorations and dated October 31, 2012, 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 Gold Belt. 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 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: Paul Zyla, Chief Executive Officer
Telephone: 416 366-4227
E-mail: info@xtragold.com
Website: www.xtragold.com
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