Xmet Engages Asinii Drilling to Commence Blackflake Drill Program
2014年3月29日 - 2:16AM
Marketwired
Xmet Engages Asinii Drilling to Commence Blackflake Drill Program
TORONTO, ONTARIO--(Marketwired - Mar 28, 2014) - Xmet Inc.
("Xmet" or the "Company") (TSX-VENTURE:XME) is pleased to announce
that it has entered into a contract with Asinii Drilling Inc. to
start drilling on the Company's 100% owned Blackflake Project. Line
cutting has now been concluded and ground geophysics, referenced in
Xmet's March 20, 2014 news release, is continuing.
The drill program, which will begin in the coming days, will
initially target the large electromagnetic anomaly described in
Xmet's February 24th, 2014 news release. Management expects this
initial phase of the drill program, which will involve about 1500
metres of drilling, will be completed prior to the winter ice
break-up and will release the results as it receives them.
"We are very excited about our progress to date and we happy to
be at the stage where we can start to determine the nature of these
anomalies. The Blackflake Project has evolved from a single target
to a multiple target project, each of which we view as highly
prospective. Given the number of bedrock anomalies identified to
date, Xmet expects that the total drill program will extend over a
number of months. Details on the next phase will be determined upon
completion of this initial phase," said Alexander Stewart, Xmet's
Chairman and CEO.
About Xmet's Blackflake
Project
Xmet's Blackflake Project comprises over 29,000 acres of 100%
owned claims approximately 60km to the northwest of Hearst, Ontario
and is adjacent to Zenyatta's Hydrothermal Graphite Deposit. Xmet
has now conducted three airborne electromagnetic surveys, VTEM and
TDEM, which discovered multiple electromagnetic conductors making
the targets highly prospective for further exploration. Xmet has
developed an excellent working relationship with the Constance Lake
First Nation, with whom the company signed an ongoing Exploration
Agreement. Xmet has received all necessary permits from Ontario's
Ministry of Northern Development and Mines.
Xmet also announces grants of incentive stock options to
directors and officers of Xmet. Stock options to purchase an
aggregate of 900,000 common shares have been granted pursuant to
Xmet's Stock Option Plan (the "Option Plan"). The options are
priced at $0.12 per share, expire in five years from the date of
issue and are subject to the terms and conditions of the Option
Plan and the policies of the TSX Venture Exchange.
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.
For the latest updates please contact: Xmet Inc.Alexander
StewartChief Executive Officer(416) 644-6588astewart@xmet.caXmet
Inc.Stephen StewartPresident(416)
644-6588sstewart@xmet.cawww.xmet.ca
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