Dec 8 2010
Xmet Inc. (TSXV-XME) has reported significant assay results for an additional five holes on its Duquesne-Ottoman property.
Drill hole DO-10-05 intersected 6.41 g/t Au over 7.7 meters in the 20-20 Zone, located 500m east of the current 43-101 resource. True width is estimated to be 80 percent of reported width. This gold zone occurs within a mineralized shear zone located adjacent to the southern margin of the Duparquet Formation, a Temiskaming-type metasedimentary basin. A limited number of historical drill holes have reported significant gold results at shallow depths along this favourable structure. This latest hole tested the mineralized structure at a much deeper level, and extends previously known 20-20 gold mineralization an additional 270 meters down plunge from historical Noranda hole DQ90-06, which reported 5.99 g/t Au over 3.7 meters. None of the historical results are included in the 525,000 ounces of NI43-101 compliant inferred gold resources published by Xmet on 21 September on Sedar. Further drill testing is planned along this promising under-explored structure.
Four additional drill holes tested for extensions of mineralization in the vicinity of Xmet's inferred resources on the property. Hole DO-10-02 intersected 3.19 g/t Au over 3.38m in the Shaft Zone starting at 232.54 metres and including a 0.98 metre sample interval which assayed 9.4 g/t Au. Also notable is that the same hole intersected 8.25 m at 1.37 g/t Au starting at 79.3 metres in the Liz Zone indicating that low mineralization does sometimes extend into the wall rocks.
Bill Yeomans, P.Geo., the vice-president exploration and a Director comments that "Hole DO-10-05 has opened up a new and exciting target area on the property. There are over 1200 meters of potentially mineralized structure that has never been previously tested along the 20-20 Zone, starting 500 meters east of the current resource area. Drilling continues with two drill rigs. Seven additional holes have been completed since hole DO-10-05 and results will be released when they become available."
Quality Assurance and Quality Control
Mr. Bill Yeomans, P. Geo., is a qualified person under National Instrument 43-101 and was responsible for this news release. Material samples for analysis and assay have been obtained from drill core which was cut in half using a diamond saw. Half of the core was sent to the lab for analysis and the remaining half preserved for future reference. A strict QA/QC program is followed which includes the use of certified pulp standards, blanks and verification analyses in a second laboratory. Analyses were performed by Activation Laboratory Limited of Ste-Germaine Brulé, Quebec.
Source: Xmet Inc.