May 15 2014
Xmet Inc. ("Xmet" or the "Company") is pleased to announce that it has completed its initial drill program on the Blackflake project.
The Initial Drilling Program completed over 1,100 metres of diamond drilling with 4 holes testing road accessible versatile time-domain electromagnetic ("VTEM"), gravity, ground magnetic and IP survey target areas. The initial drill program has been completed and drill core from the program has been sent to the assay lab and the Company is awaiting results. Further follow-up ground geophysical surveys will continue on the company's large 100% owned claim block as soon as late high spring melt-waters have lowered after the prolonged winter season in the Hearst region of northern Ontario.
Geophysical Data Interpretation Identifies Kimberlite Potential on Under-explored Land Package
In November 2013 and February 2014 Xmet commissioned Aeroquest Airborne to complete airborne geophysical surveys using VTEM and magnetic surveys. The airborne survey report and additional geophysical interpretations commissioned by Xmet identified multiple potential kimberlite targets of interest for being potentially diamond bearing. Xmet has hired a diamond exploration consultant who conducted further geophysical interpretations on the magnetic and electromagnetic survey data for the exploration of possible kimberlite pipes.
The strongest electromagnetic responses accessible are being evaluated for hydrothermal graphite potential. The geophysical interpretation report by Aeroquest recommends follow-up exploration programs on 8 potential pipe-like bodies with conductive shallow layers identified for the interpreted survey block.
Xmet will continue to test potential graphite targets and plans to evaluate potential kimberlite pipes using ground geophysical methods. Xmet is also pleased to announce that it has hired Justin Rocco as its Geology Manager. Mr. Rocco is a geological engineering graduate from the University of Toronto's Lassonde Institute and a diamond exploration and kimberlite specialist with 10 years of experience working on diamond exploration projects with SouthernEra Diamonds and Mantle Diamonds.
Below in this News Release is a geophysical image depicting the initial targets Total Magnetic Intensity and the four diamond drill holes completed by Xmet.
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Source: http://www.xmet.ca/