Feb 11 2015
Xmet Inc. is pleased to provide an update on the status of its Blackflake West and Grasset Projects.
Grasset Update: The Company has completed its airborne VTEM survey over its 100% owned Grasset Project and it has interpreted the results. The VTEM survey has confirmed our drill program targets which were identified by a previously completed Induced Polarization survey. The VTEM survey also identified new targets, some of which are planned to be included in the Company's upcoming Grasset drill program.
Xmet has engaged Rouillier Drilling to complete the diamond drilling program. Preparations for the Grasset drill program, including access and ice drill pad thickening, have been underway since early January, 2015. The drill is expected to be on site and operational by mid-February with the expectation of about 2,200 metres of diamond drilling being completed within a four to six week timeframe from commencement.
Blackflake West Update: Xmet is continuing to drill on its Blackflake West project. The drill program, which was delayed due to access and weather related issues, commenced on January 18th. The program is currently on drill hole number four and Xmet expects the drilling phase to be completed in the next week or so. Core cutting is currently underway on the completed holes and Xmet expects to be in a position to evaluate assay results shortly.