Sep 9 2014
Xmet Inc. is pleased to announce that it has engaged Aeroquest International to complete a new round of Versatile Time Domain Electromagnetic and Magnetic Gradiometer Survey on its consolidated Blackflake West Project.
The airborne survey will begin in the next few days and will cover the new ground acquired and optioned from Alibaba Graphite and Metals Creek Resources respectively.
The survey consists of 200 line km, (composed of 127 line km north-south and 73 km east-west) and will include a more tightly spaced grid over our All Channel EM anomaly on Blackflake West.
"This is a significant milestone, both technically and contractually, for Xmet to complete. Airborne electromagnetics is the best to way to understand the targets characteristics, especially using the VTEM technology as it penetrates over 500 metres below surface. We've been pleased with our ground geophysical program to date, and we are looking forward to further delineating this target with deep penetrating EM. The program also has the potential to discover new features as most of this land has never been flown," said Alexander Stewart, Xmet CEO and Chairman.
This survey will increase Xmet's ownership from 50% to 65% on the western extension of the 'All Channel' EM response that the company acquired from Alibaba Graphite (as announced in June 18th, 2014 news release) and is a requirement for Xmet to earn up to 60% of the Blackflake claims optioned from Metals Creek (as announced in May 22nd, 2014 news release).