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Xtra-Gold Resources Reports Gold Assay Results from Kibi Gold Project in West Africa

Xtra-Gold Resources Corp. (TSX:XTG)(TSX:XTG.S)(OTCBB:XTGR), has announced gold assay results for six diamond drill holes, totaling 737 m, from the recently completed Zone 2 drill program at its wholly-owned Kibi Gold Project, located in the Kibi Greenstone Belt, in Ghana, West Africa.

The Phase III drill program was completed on October 10, 2010 and encompassed 30 diamond core holes, ranging from 48 metres to 323 metres in length, and totaling 5,049 linear-metres. The core samples from the remaining 24 holes (4,312 m) have been submitted to the laboratory and drill results will be released as assays are received and compiled over the next several weeks. In addition, a total of 1,450 linear-metres of mechanized trenching, including 24 trenches and 17 bank cuts, was conducted on Zone 2 in conjunction with the drilling program to better define the surface trace of the host granitoid bodies, to test strike extensions of known mineralization, and to test gold-in-soil anomalies and geophysical targets. Results from the trench sampling will also be released as they become available.

Recent geological mapping, trenching, and drilling efforts have delineated four north-westerly to northerly trending auriferous granitoid bodies within Zone 2 of the Kibi Gold Project. To date, gold mineralization has been traced along these host granitoids over the following distances:

  • approximately 720 m along the Central Granitoid (formerly Trench TKB004, TKB014 E-F zones);
  • approximately 210 m along the Upper Central Granitoid (formerly Trench TKB006 zone);
  • approximately 440 m along the South Ridge Granitoid (formerly Trench TKB010 zone);
  • approximately 250 m along the East Dyke Granitoid (formerly Trench TKB005 zone).

Five boreholes, #KBDD10069 through #KBDD10073, targeted the southeastern portion of the Central Granitoid, and hole #KBDD10081 probed the central portion of the Upper Central Granitoid, located along the northwest flank of the Central Granitoid. Holes #KBDD10069, #KBDD10070, and #KBDD10071, consisting of an array of SW-trending boreholes collared at approximately 50 m centers along the northeast, hanging wall flank of the Central Granitoid body, were designed to further test a 2.78 g/t gold over 15.0 m intercept in the SE-trending, scout diamond drill hole #KBD08015 (see January 8, 2009 Press Release). All three (3) holes yielded significant mineralized intercepts, including: 27.0 metres grading 4.03 g/t gold in drill hole #KBDD10069; 27.13 metres grading 2.12 g/t gold in hole #KBDD10070; and 6.5 m grading 3.99 g/t in hole #KBDD10071. Mineralization in #KBDD10070 appears at this time to be truncated by a post mineralization mafic dyke. Gold mineralization is associated with quartz-albite-carbonate-sulphide stockwork veining developed in rock bodies of quartz diorite, tonalite, and granodiorite compositions.

A new diamond drill campaign commenced on November 16, 2010, and is expected to run more or less continuously throughout 2011. It will focus on further delineating gold mineralization identified to date within the four aforementioned granitoid bodies in Zone 2 of the Kibi Gold Project. The Company anticipates contracting a second drill rig in the coming months to continue testing other known granitoid-hosted gold occurrences and geophysical targets along the Kibi Project gold trend; an over 5.5 km long mineralized trend delineated from gold-in-soil anomalies, geophysical interpretations, trenching and drilling along the northwest margin of the Apapam mining lease.

Yves P. Clement, P. Geo, Vice President, Exploration for Xtra-Gold is acting as the Qualified Person in compliance with National Instrument 43-101 ("NI 43-101") with respect to this announcement.

Source: Xtra-Gold Resources Corp.

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