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Xmet Enters Graphite Arena with its Blackflake Project-A 100% Owned Property Abutting Zenyatta's Albany "Graphite" Project
Xmet Enters Graphite Arena with its Blackflake Project-A 100% Owned Property Abutting Zenyatta's Albany "Graphite" Project.
About this update from Xmet Inc
[{"type":"text","content":"\n \n \n Xmet Enters Graphite Arena with its Blackflake Project-A 100% Owned Property Abutting Zenyatta's Albany \"Graphite\" Project\n \n \nXmet Enters Graphite Arena with its Blackflake Project-A 100% Owned Property Abutting Zenyatta's Albany \"Graphite\" Project\n \n TORONTO, ONTARIO--(Marketwired - Nov 4, 2013) - Xmet Inc. (\"Xmet\" or the \"Company\") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to announce that it has acquired the following two contiguous blocks of claims, totalling 70 claim units, tied onto the northwestern portion of Zenyatta Ventures Ltd's (\"Zenyatta\") Albany Project including; (a) a staked 100% ownership interest in 46 claim units contiguous to Zenyatta's northwest boundary; and (b) an optioned 100% ownership interest in 24 claim units tied onto the northwestern portion of Zenyatta's Albany Project.\n \"Xmet is excited about the potential that these 100% owned properties can deliver. Zenyatta's tremendous success in the region demonstrates the high potential of the area for world class graphite deposits. The market demand that exists for hydrothermal vein-type graphite is substantial,\" said Alexander Stewart, Xmet's Chairman and CEO. In addition, he noted that \"as indicated in Zenyatta's recent press releases, the graphite discovered in the area appears to have highly desirable characteristics such as low resistivity and thus enhanced ability to transmit an electrical current. Its highly crystalline structure also aids thermal and electrical conductivity. These characteristics are comparable to commercial grade synthetic graphite which attracts significant prices from many growing markets for products such as electronics, lithium-ion and other batteries, capacitors, sensors and catalysts.\" \n Zenyatta discovered high quality vein-type hydrothermal graphite mineralization while conducting follow-up drilling on electromagnetic geophysical anomalies identified by an airborne geophysical survey conducted by Geotech in 2010. The world class Zenyatta magmatic, hydrothermal (vein type) graphite deposit is potentially economic and occurs within a graphite breccia with a granitic matrix host rock. \n Xmet's Blackflake Project has been acquired based on a search and evaluation of historical data in the region that has identified favorable magnetic lows that occur along the western margin of an oval shaped, 27k...