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Xmet's Preliminary VTEM Results Trigger Additional Staking Near Zenyatta's Albany Graphite Deposit
Xmet's Preliminary VTEM Results Trigger Additional Staking Near Zenyatta's Albany Graphite Deposit.
About this update from Xmet Inc
[{"type":"text","content":"\n \n \n Xmet's Preliminary VTEM Results Trigger Additional Staking Near Zenyatta's Albany Graphite Deposit\n \n \nXmet's Preliminary VTEM Results Trigger Additional Staking Near Zenyatta's Albany Graphite Deposit\n \n TORONTO, ONTARIO--(Marketwired - Dec 3, 2013) - Xmet Inc. (\"Xmet\" or the \"Company\") (TSX VENTURE:XME)(OTCQX:XMTTF) is pleased to report that it has staked an additional 44 claim units to expand its 100% owned Blackflake Project. The Blackflake Project is located approximately 60 kilometers northwest of Hearst, in Northern Ontario and is adjacent to Zenyatta's Albany graphite project. Xmet considers its initial geophysical work including magnetics and VTEM survey to be very encouraging towards its objective of discovering and defining a hydrothermal graphite deposit on its Blackflake Project.\n \"As a result of flying our VTEM survey which disclosed significant conductive anomalies on our Blackflake project (see Xmet news release dated November 27th, 2013) it became clear that anomalies of significant size may also exist on adjoining properties. We therefor mobilized our staking team to secure the additional claim units for Xmet. This has now been completed\" said Alexander Stewart, Chairman and CEO of Xmet Inc. \"Xmet now controls 225 claim units which comprise 9,000 acres as part of its Blackflake Project. The Blackflake claim blocks share similar geological and structural features to Zenyatta's Albany hydrothermal graphite discovery.\"\n \"The much anticipated release of the Zenyatta 43-101 resource estimate for their Albany graphite deposit indicates that Zenyatta has discovered a significant, very rare (hydrothermal) graphite deposit which does not require complex metallurgical processing for upgrading to 99.99 per cent carbon said Bill Yeomans, Director for Xmet. This new discovery has generated a lot of renewed exploration activity in an under-explored region of northern Ontario. After completing initial VTEM surveys on the original Blackflake claim blocks, Xmet expanded their land package to 9,000 acres. Xmet is one of the first companies to conduct airborne electromagnetic surveys targeting graphite on their well-positioned land package located within 6 kilometers of Zenyatta's discovery.\"\n The outlook for the global graphite market is growing rapidly from new applications and is considered a strateg...