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Xtra-Gold Resources Corp.
Summary
| Project: | Kibi | |
|---|---|---|
| Deposit: | South Ridge | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 7/26/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-7-2019: Xtra-Gold Resources Corp. announces an Exploration/Drilling Update report for its South Ridge deposit at the Kibi project. Xtra-Gold Clarifies Technical Disclosures. Toronto, Ontario--(Newsfile Corp. - July 26, 2019) - Xtra-Gold Resources Corp. | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Yves P. Clement (Internal) | |
| ABSTRACT: | Toronto, Ontario--(Newsfile Corp. - July 26, 2019) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCBB: XTGRF) ("Xtra-Gold" or the "Company") announces that, in connection with a continuous disclosure review by the Ontario Securities Commission (the "OSC") of the Company's technical disclosure under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), the Company is issuing this news release to clarify certain disclosures previously made by the Company. Under sections 2.2(d) and 3.4(b) of NI 43-101, these documents should have contained quantity and grade disclosure in respect of the Company's Kibi Gold Project located inGhana, West Africa. Accordingly, the Company is issuing this news release to clarify this disclosure in the above-noted news releases and will also be re-filing revised MD&As and Annual Information Form with the additional clarification. The revised news release disclosure should read as follows (additional disclosure is underlined): "The South Ridge deposit has a current inferred mineral resource estimate of 0.9 million tonnes grading 1.48 grams per tonne ("g/t") gold for 42,000 ounces of contained gold. The South Ridge deposit, along with the Big Bend, East Dyke, and Mushroom deposits in Zone 2 and the Double 19 deposit in Zone 3, form part of a maiden mineral resource estimate (October 26, 2012) on the Company's Kibi Gold Project. In aggregate, these five gold deposits lying within approximately 1.6 kilometres of each other are estimated to encompass an indicated mineral resource of 3.38 million tonnes grading 2.56 g/t gold for 278,000 ounces of contained gold and an additional inferred mineral resource of 2.35 million tonnes grading 1.94 g/t gold for 147,000 ounces of contained gold (@ base case 0.5 g/t cut-off). The Zone 2 - Zone 3 maiden mineral resource represents the first ever ^mineral resource generated on a lode gold project within the Kibi Gold Belt. Gold mineralization is characterized by auriferous quartz vein sets hosted in Belt-type granitoids geologically analogous to other "Grantoid-hosted" gold deposits of Ghana, including Kinross Gold's Chirano and Newmont Mining's Subika deposits in the Sefwi gold belt. The NI 43-101 Technical Report entitled "Independent Technical Report, Apapam Concession, Kibi Project, Eastern Region, Ghana", prepared by SEMS Explorations and dated October 31, 2012, is filed under the Company's profile on SEDAR at www.sedar.com.” | |
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