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Xmet Discovers Large New Conductive Target After Completing its Second EM Survey at Blackflake Project, Near Zenyatta
Xmet Discovers Large New Conductive Target After Completing its Second EM Survey at Blackflake Project, Near Zenyatta.
About this update from Xmet Inc
[{"type":"text","content":"\n \n \n Xmet Discovers Large New Conductive Target After Completing its Second EM Survey at Blackflake Project, Near Zenyatta\n \n \nXmet Discovers Large New Conductive Target After Completing its Second EM Survey at Blackflake Project, Near Zenyatta\n \n TORONTO, ONTARIO--(Marketwired - Dec 12, 2013) - Xmet Inc. (\"Xmet\" or the \"Company\") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to report that it has flown a second EM survey over its newly staked land position disclosed in the December 3rd, 2013 news release and it has evaluated the preliminary results from the new 116 line kilometre MAG-TDEM survey. \n Xmet's CEO, Alexander Stewart says, \"As a result of this second EM survey, Xmet has discovered a new strong conductive anomaly measuring approximately 300 metres by 800 metres and has since completed additional staking to cover the entire anomaly and abutting lands to bring its project total to 237 claim units. This anomaly is of particular interest as its size and strength of response supersedes the previously discovered anomalies and will be our immediate focus. Xmet now has three conductive anomalies of significant size and considers these results to be very encouraging towards its objective of discovering and defining a hydrothermal graphite deposit on its Blackflake Project. Our next step is to drill these targets and prove up what we have.\"\n Bill Yeomans, P.Geo. states that \"The preliminary data from our new MAG-TDEM survey indicates a large north northeast trending anomaly with a strong electromagnetic response measuring approximately 300 metres by 800 metres situated within a magnetic low flanking northwest trending magnetic diabase dikes.(see Figure 1). Xmet has since staked the eastern and northern parts of the anomaly not shown in Figure 1. The anomaly was crossed by a tie line which shows a well-developed conductor about 300 metres wide that is responding on most channels (see Figure 2). This favorable environment bears similarities to the setting in which the Zenyatta hydrothermal graphite pipes were emplaced. The strong Zenyatta conductors are circular in nature and are situated within a magnetic low flanking the margin a northwest trending diabase dike.\" \n To view Figures 1 and 2 please click on the following link: http://media3.marketwire.com/docs/XME1212a.pdf\n The Blackflake Project consists of two s...