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Xtra-Gold Resources Corp.
Summary
| Project: | Kibi | |
|---|---|---|
| Deposit: | South Ridge | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 8/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-8-2018: Xtra-Gold Resources Corp. announces an Exploration/Drilling Update report for its South Ridge deposit at the Kibi project. Drilling results incl. 37.78m @ 2.67g/t Au from 52.22m. Toronto, Ontario--(Newsfile Corp. - August 8, 2018) - Xtra-Gold Re | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Yves P. Clement (Internal) | |
| ABSTRACT: | Toronto, Ontario--(Newsfile Corp. - August 8, 2018) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCBB: XTGRF) ("XtraGold" or the "Company") is pleased to announce positive results for initial phase of an ongoing mineral resource expansion drilling program at the South Ridge gold deposit, on the Company's wholly-owned Kibi Gold Project, located in the Kibi — Winneba greenstone belt (the "Kibi Gold Belt"), inGhana, West Africa. A total of 11 diamond core boreholes totaling 1,282 metres were completed by the Company's in-house drilling crew on an intermittent basis from February to June 2018. Initial drilling focused on further defining the litho-structural setting of the gold mineralization based on recent remodeling efforts of the South Ridge gold zone. Highlights of the drill results reported today include. James Longshore, President and CEO remarked: "Recent geological mapping, core re-logging and geological modelling resulted in strong drill intercepts in the initial phase of the South Ridge mineral resource expansion program. These two new higher grade intercepts, along with the large footprint of the South Ridge gold zone, traced to date along an approximately 400 metre strike-length and 230 metre down-dip depth from surface, demonstrates the potential for increasing the current inferred mineral resource from both tonnage and grade perspectives. Drilling is currently ongoing at South Ridge with the evolving geological model providing enhanced drill targeting to further maximize the gold zone's economic potential." The South Ridge deposit has a current inferred mineral resource estimate of 42,000 ounces at an average grade of 1.48 g/t 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 National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate (October 26, 2012) on the Company's Kibi Gold Project. In aggregate. | |
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