Business
Xtra-Gold Acquires a Fourth Drill Rig to Expedite Drilling at Its Kibi Gold Project
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) - Xtra-Gold Resources Corp. (TSX: XTG) (...
About this update from Xtra-gold Resources Corp.
[{"type":"text","content":"Xtra-Gold Acquires a Fourth Drill Rig to Expedite Drilling at Its Kibi Gold ProjectToronto, Ontario--(Newsfile Corp. - September 23, 2025) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB: XTGRF) (\"Xtra-Gold\" or the \"Company\"), is pleased to announce the acquisition of its fourth (4th) diamond drill rig (the \"Drill Rig\"), which will substantially accelerate the Company's exploration efforts at our Kibi Gold Project. The Drill Rig consists of a CS1000/P4 crawler-mounted diamond drill rig specifically designed for Xtra-Gold.(Photo of Xtra-Gold's CS1000/P4 Crawler-Mounted Diamond Drill Rig Arriving at Our Mine Camp in Ghana)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1445/267543_20daa4017460cb91_002full.jpgXtra-Gold is unique for a gold exploration company for operating its own fleet of drill rigs, versus contracting drill rigs from third parties. This has dramatically reduced our finding cost per ounce of gold by approximately 80% compared to our peers, which has added significant shareholder value.James Longshore, CEO/Co-Founder states: \"The average cost to contract a drill rig in Ghana is approximately US$250 per meter, with our drill costs running below US$50 per meter. Having drilled over 100,000 meters on our Kibi Gold Project, operating our own drill rigs has saved the Company an estimated US$20 million to date. With the recent advancement of the Orange No. 5 resource expansion target potentially expanding our Kibi Gold Project resource \"footprint\" to over 5 kilometers in strike length, the addition of this new drill rig will be instrumental in expediting our resource growth.\"About Xtra-Gold Resources Corp.Xtra-Gold is a Ghana-focused gold exploration company with a substantial land position totaling 226 km2 in the Kibi Gold Belt. The Kibi Gold Belt is geologically analogous to the neighboring, world famous Ashanti Gold Belt, which is one of the most highly endowed gold belts in the world with estimated global gold resources totaling over 130 million ounces. Our company is the best positioned explorer to make the next major gold discovery in Ghana.Forward-Looking StatementsThe 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 info...