Xmet has received encouraging results of the initial seven holes from the current phase II drill campaign conducted at the Duquesne Ottoman project. The company started this phase II program during early September using two drilling rigs, which was focused on the extension of the present inferred gold resource of 727,000 oz.
These drill cuts has shown continuity of high-grade gold mineralization, which was discovered by a surface trenching program conducted during the summer exploration campaign of 2011.
Xmet’ Senior Vice President of Exploration has announced that these new results have revealed the down dip mineralization continuity from the high-grade gold that is open at the surface during the trenching campaign of 2011. The ongoing drill program has targeted the possible near-surface mineralization expansions below and to the southwest part of the open Shaft zone mineralization. At present, a second rig is analyzing the prospective mineralized expansions at the Fox zone, which is believed to be a further highly significant target.
The company has intersected the shaft zone and has returned 0.34 g/t gold over 1.91 m in the hole DO-11-35, 3.80 g/t gold over 3.00 m in the hole DO-11-37, 8.77 g/t gold over 5.10 m in the hole DO-11-38, 3.27 g/t gold over 3.30 m in the hole DO-11-39, 4.13 g/t gold over 6.9 m in the hole DO-11-40 and 7.84 g/t gold over 2.75 m in the hole DO-11-41.
Xmet did not find any positive results from the drill holes DO-11-35 and DO-11-36 and these holes are inferred to be below the mineralization’s southwest plunge. It has drilled 2,900 m during the phase II drill campaign and will release the further results when available.