Xtra-Gold Further Delineates Kibi Gold Project Resource Expansion Targets; Demonstrates Potential Resource Growth from Two New Under-Tested Gold Mineralization Settings
Xtra-Gold Further Delineates Kibi Gold Project
Resource Expansion Targets; Demonstrates
Potential Resource Growth from Two New
Under-Tested Gold Mineralization Settings
Toronto, Ontario--(Newsfile Corp. - February 26, 2025) -
Xtra-Gold Resources Corp. (TSX: XTG)
(OTCQB: XTGRF) ("Xtra-Gold" or the "Company"),
is pleased to announce positive assay results
for the initial 49 diamond core drillholes totalling 10,682 m from its current resource expansion target
generation drilling program on the Company's wholly-owned Kibi Gold Project, located in the Kibi -
Winneba greenstone belt (the "Kibi Gold Belt"), in Ghana, West Africa. The current drilling forms part of
an aggressive in-house drilling initiative targeting multiple resource-growth opportunities across the
broader Zones 1 - 4 Mineral Resource estimate footprint area (the "2024 MRE", see the Company's
news release of October 16, 2024). With the multifaceted drilling program targeting promising early-
stage gold prospects identified by previous scout drilling, potential extensions to existing resource
bodies and prospective litho-structural gold settings generated by updated 3D geological modelling.
Present drilling efforts successfully:
confirmed strike- and down-dip extensions of early-stage Orange
No. 5 (Zone 4) and Lone Tree (Zone 1) resource expansion targets; further defined down-dip continuity
of mineralization within central portion of Southridge resource body to approximately 400 m; continued to
delineate geometry and lateral extent of SW Shoots mineralization package at Boomerang gold system;
and discovered new gold mineralization by scout drilling of "blind" diorite body lying at the core of Zone 3
mineralization-controlling synclinorium fold structure.
New Under-Tested Gold Mineralization Settings:
Two new, entirely metasedimentary rock hosted, gold
mineralization settings identified: Lone Tree target, interpreted as limb-parallel shear situated on
western limb of a 1st-order F2 anticlinorium fold structure ("Central Fold"); and Orange No. 5 target,
situated along hanging wall of a regional D2 shear ("Zone 2 Bounding Shear"), approximately 2 km
southwest of currently defined MRE footprint. With both these gold prospective litho-structural settings
remaining practically untested across the Kibi Gold Project concession.
Assay results reported are provided in Table 1 below and include the following highlights:
Orange No. 5 - Resource Expansion Target (step-out drill fence 100 m SW of original scout drilling)
-
13.0 m at 1.46 grams per tonne gold ("g/t Au"), including 4.0 m at 3.40 g/t Au, from 34 m;
and 10.0 m at 1.05 g/t Au, including 4.0 m at 1.81 g/t Au, from 60 m in KBDD24597
-
29.5 m at 0.73 g/t Au, including 4.5 m at 1.81 g/t Au, from 0.0 m in KBDD24593
-
13.5 m at 0.65 g/t Au, including 1.5 m at 2.08 g/t Au, from 1.0 m in KBDD24591
-
9.0 m at 0.41 g/t Au from 22 m; 15.0 m at 0.40 g/t Au from 68 m; 8.0 m at 0.48 g/t Au from
104 m; and 35.0 m at 0.30 g/t Au from 137 m in KBDD24599
Lone Tree - Resource Expansion Target (100 m step-out NE of previous scout drilling)
-
27.0 m at 0.72 g/t Au, including 4.0 m at 1.55 g/t Au, from 131.0 m in KBDD24594
South Ridge - MRE Body (down-dip expansion / infill)
-
23.0 m at 0.72 g/t Au, including 13.0 m at 1.05 g/t Au, from 206 m in KBDD24562
-
14.0 m at 1.65 g/t Au, including 4.0 m at 4.38 g/t Au, from 127 m in KBDD24569
Boomerang-SW Shoots - MRE Body (expansion / delineation)
-
24.0 m at 0.72 g/t Au, including 9.0 m at 1.24 g/t Au, from 22 m in KBDD24557
-
30.0 m at 0.60 g/t Au, including 4.0 m at 1.55 g/t Au, from 185 m in BFDD24029
-
7.5 m at 1.81 g/t Au, including 3.5 m at 3.57 g/t Au, from 137 m in KBDD24564
New Mineralization (scout drilling discovery within "blind" diorite body)
-
4.5 m at 1.19 g/t Au, including 1.5 m at 2.83 g/t Au, from 178.5 m in KBDD24560
James Longshore, President and CEO remarked: "We remain steadfast on continuing to identify and
advance new resource growth opportunities at our Kibi Gold project, as once more demonstrated by the
encouraging gold grades and widths returned by our initial follow-up drilling at the Orange No. 5 and
Lone Tree resource mineral expansion targets. With both these emerging targets representing newly
identified gold mineralization settings spatially associated with under-tested property-scale structural
features. We are particularly excited about the fact that, unlike the typical Zone 2 - Zone 3 granitoid-
hosted mineralization, gold mineralization at the Orange No. 5 and Lone Tree targets is entirely hosted
within metasedimentary rocks, demonstrating that exploration potential exists in multiple rock types
along the over 6 km and 7 km respective extents of the Zone 2 Bounding Shear and the Central Fold
structures across the Kibi Gold project concession".
Today's Kibi Gold Project drill results correspond to the initial 49 drillholes (10,682 m) of an ongoing
exploration initiative targeting multiple resource expansion opportunities across the broader Zones 1 - 4
MRE footprint area, including: follow up drilling of the early-stage Lone Tree (Zone 1) and Orange No. 5
(Zone 4) targets, both returning positive drilling results from previous scout drilling;
expansion drilling
targeting one or more of the strike-, down-dip or down-plunge extensions of several of the existing MRE
bodies; and scout drilling of prospective litho-structural gold settings identified by recently updated 3D
geological modelling. The present 49 diamond core drillholes were completed by the Company's in-
house drilling crews from mid-April to mid-December 2024 (#KBDD24556 - #601, #BFDD24029 -
#030 & #KBDD23509 - extension), including: 26 expansion / infill holes (6,430 m) targeting the
Boomerang, South Ridge, Gatehouse, Twin Zone and Double 19 mineral resource bodies; 11 follow up
holes on the Lone Tree and Orange No. 5 prospects; and 12 scout holes on litho-structural targets.
Exploration significant auriferous drill intercepts are presented in Table 1 below, with a drill plan (Figure
1) and collar / drill hole details (Table 2), available at:
(
Figure 1_Zones 1 - 4 Drill Plan_Jan 2025
)
(Table 2_Drill Collar Info_Jan 2025)
Table 1: Significant Drill Intercepts
Resource Expansion Target Generation Program (Zones 1 - 4)
DDH #KBDD24556 - #601; #BFDD24029 - #030; #KBDD23509 Extension
Kibi Gold Project / April - December 2024
Hole ID
From (metres)
To
(metres)
Core
Length (metres)
Gold Grams
Per
Tonne
Zone ID / Target
KBDD23509
(1)
175.0
180.0
5.0
1.49
Boomerang - Upper
Shoots
including
175.0
177.0
2.0
2.54
and
191.0
194.0
3.0
0.97
KBDD24557
22.0
46.0
24.0
0.72
Boomerang - SW
Shoots
including
22.0
31.0
9.0
1.24
and
79.0
88.0
9.0
0.43
including
79.0
82.0
3.0
0.98
and
165.5
177.5
12.0
0.28
including
173.0
174.5
1.5
0.92
KBDD24558
117.0
127.0
10.0
0.30
Boomerang - Upper
Shoots
including
122.0
123.0
1.0
0.98
and
252.5
262.0
9.5
0.30
Boomerang - Upper
Shoots
and
346.0
352.0
6.0
0.82
Boomerang - Lower
Shoot
including
350.0
352.0
2.0
1.43
KBDD24560
178.5
183.0
4.5
1.19
Scout Hole - New
Diorite Body
including
181.5
183.0
1.5
2.83
KBDD24562
206.0
229.0
23.0
0.72
Southridge - Down Dip
including
206.0
219.0
13.0
1.05
and incl.
206.0
211.0
5.0
2.06
KBDD24563
2.5
29.5
27.0
0.34
Boomerang - SW
Shoots
including
23.5
29.5
6.0
0.74
KBDD24564
2.5
20.5
18.0
0.28
Boomerang - SW
Shoots
and
31.0
44.5
13.5
0.27
and
137.0
144.5
7.5
1.81
including
141.0
144.5
3.5
3.57
KBDD24569
127.0
141.0
14.0
1.65
Southridge - Down Dip
including
137.0
141.0
4.0
4.38
and incl.
138.0
139.0
1.0
9.38
KBDD24570
246.0
263.0
17.0
0.31
Southridge - Down Dip
KBDD24571
0.0
5.5
5.5
0.75
Southridge - Footwall
KBDD24575
243.0
246.0
3.0
0.92
Twin Zone - Down
Plunge
KBDD24583
155.0
165.0
10.0
0.91
Twin Zone - Down
Plunge
including
158.0
161.0
3.0
2.22
KBDD24588
16.0
17.5
1.5
5.96
Gatehouse - NE
Extension
KBDD24589
146.0
152.0
6.0
0.73
Gatehouse - NE
Extension
KBDD24591
1.0
14.5
13.5
0.65
Orange No. 5 - SW
Extension
including
10.0
11.5
1.5
2.08
KBDD24593
0.0
29.5
29.5
0.73
Orange No. 5 - SW
Extension
including
22.0
26.5
4.5
1.81
and
49.0
55.0
6.0
0.43
KBDD24594
131.0
158.0
27.0
0.72
Lone Tree - NE
Extension
including
153.0
157.0
4.0
1.55
KBDD24595
31.0
46.0
15.0
0.54
Orange No. 5 - SW
Extension
including
40.0
43.0
3.0
1.06
KBDD24597
34.0
47.0
13.0
1.46
Orange No. 5 - SW
Extension
including
43.0
47.0
4.0
3.40
and
60.0
70.0
10.0
1.05
including
66.0
70.0
4.0
1.81
KBDD24599
22.0
31.0
9.0
0.41
Orange No. 5 - SW
Extension
and
68.0
83.0
15.0
0.40
including
75.5
77.0
1.5
1.52
and
104.0
112.0
8.0
0.48
and
137.0
172.0
35.0
0.30
including
147.5
149.0
1.5
1.10
KBDD24600
72.6
75.5
2.9
1.00
Gatehouse - NE
Extension
KBDD24601
23.5
34.0
10.5
0.27
Orange No. 5 - SW
Extension
BFDD24029
(2)
185.0
215.0
30.0
0.60
Boomerang - Upper
Shoots
including
206.0
210.0
4.0
1.55
BFDD24030
(2)
68.5
74.5
6.0
0.48
Boomerang - SW
Shoots
(1)
Hole #KBDD23509 originally drilled to a depth of 170 m in March 2023; and re-entered / extended by 228 m to a final depth of 398 m in June 2024.
The upper (previously drilled) section of the drillhole did not return any significant mineralized intercept.
(2)
Drillholes #BFDD24029 & #BFDD24030 are collared within the area termed the "Buffer Zone", which encompasses the "open ground" between
the existing Apapam mining lease boundary up to the Forest Reserve boundary. See the accompanying Figure 1: Drill Plan & Table 2: Drill Collar Info
for further details and cautionary note regarding the Buffer Zone.
Notes:
Reported intercepts are core-lengths; true width of mineralization is unknown at this time.
"Significant" intercepts meet following criteria: minimum metal factor (grade x length) of 2.5; with minimum 0.25 g/t gold average grade over interval.
Intercepts also constrained with a 0.25 g/t gold minimum cut-off grade at top and bottom of intercept, with no upper cut-off applied, and maximum of
five (5) consecutive samples of internal dilution (<0.25 g/t gold). All internal intervals above 15 g/t gold indicated.
The Orange No. 5 resource expansion target was originally identified during a 2012 scout drilling
program designed to test high priority geophysical targets located along the approximately 4 km long by
0.6 km to 0.8 km wide Zone 4 anomalous gold-in-soil trend. With the immediate Orange No. 5 target
area tested by 6 drillholes (1,258 m), including two NW-trending drill fences spaced approximately 100
m apart (5 holes), and one drillhole collared halfway between the two drill fences. Mineralized intercept
highlights included 19.0 m grading 1.78 g/t Au, including 6.0 m at 4.11 g/t Au, from a down-hole depth of
134 m in KBDD12220, 0.7 m grading 41.40 g/t Au from a down-hole depth of 154.3 m in KBDD12251
and 8.5 m grading 2.24 g/t Au, including 3.0 m at 5.76 g/t Au, from a down-hole depth of 99 m in
KBDD12252 (See the Company's news release of August 21, 2012).
The present Orange No. 5 follow up drilling consists of a 6-hole (778 m) drill fence designed to test the
strike and down-dip continuity of the gold mineralization, approximately 100 m to the southwest of the
previous scout drilling (KBDD24591 / 593 / 595 / 597 / 599 / 601). The NW-trending drill fence
intersected the shallow southeast dipping, multi-shoot mineralization package over an approximately
225 m down-dip distance from surface, including the following mineralized intercept highlights: 29.5 m
grading 0.73 g/t Au, including 4.5 m at 1.81 g/t Au, from down-hole depth 0.0 m in KBDD24593; and
13.0 m grading 1.46 g/t Au, including 4.0 m at 3.40 g/t Au and 10.0 m grading 1.05 g/t Au, including 4.0
m at 1.81 g/t Au, from down-hole depths of 34 m and 60 m respectively in KBDD24597. With
KBDD24599, the southeasternmost (deeper) hole of the drill fence,
returning a broad zone of
intermittent, lower grade mineralization extending over a 150 m core-length from a down-hole depth of
22 m, including the following intercepts: 9.0 m grading 0.41 g/t Au from 22 m, 15.0 m grading 0.40 g/t Au
from 68 m, 8.0 m grading 0.48 g/t Au from 104 m and 35.0 m grading 0.30 g/t Au from 137 m.
Recently completed 3D VTEM / TMI inversion models-based litho-structural modelling indicates that the
Orange No. 5 target is positioned in proximity to a folded 2
nd
- order syncline along the hanging wall of a
regional D2 shear ("Zone 2 Bounding Shear"). With the gold mineralization hosted within a folded /
strained metasedimentary rock sequence including graywacke, graphitic phyllite and sandstone units.
Drilling to date has traced the NE-trending, shallow southeast dipping mineralization package over an
approximately 200 m strike-length and to a down-dip depth of approximately 225 m (approximately 150
m vertical depth from surface).
The Lone Tree resource expansion target located along the southeast flank of the Gatehouse mineral
resource body in Zone 1 was previously subjected to scout drilling in 2020 to follow up on a shear
structure identified during drill road construction. A 4-hole (429 m) NW-trending drill fence intersected the
moderate (60
o
) southeasterly dipping shear structure over an approximately 100 m down-dip distance
from surface. Mineralized intercept highlights included 16.6 m grading 0.96 g/t Au, including 3.0 m at
3.47 g/t Au, from a down-hole depth of 41 m in KBDD20380 and 12.0 m grading 0.98 g/t Au, including
2.1 m at 2.61 g/t Au, from a down-hole depth of 75 m in KBDD20374 (See the Company's news
releases of February 17, 2021, and April 14, 2021).
The present follow up drilling targeted the northeast strike extension of the Lone Tree shear structure with
a 3-hole (468 m) NW-trending drill fence, approximately 100 m to the northeast of the previous scout
drilling (KBDD20585 / 590 / 594). With KBDD24594 returning a mineralized intercept of 27.0 m grading
0.72 g/t Au, including 4.0 m at 1.55 g/t Au, from a down-hole depth of 131 m (~140 down-dip from
surface) and KBDD24585 returning intercepts of 6.0 m grading 0.40 g/t Au and 1.0 m at 1.90 g/t Au from
down-hole depths of 102 m and 117, respectively (~60 m up-dip from the KBDD24594 intercept).
Recently completed 3D VTEM / TMI inversion models-based litho-structural modelling indicates that the
Lone Tree structure consists of a limb-parallel shear situated on the western limb of a 1st-order F2
anticlinorium fold structure ("Central Fold").
To date the Lone Tree shear gold mineralization has been
traced by drilling and trenching over an approximately 475 m strike-length and to a maximum down-dip
depth of approximately 140 m (approximately 130 m vertical depth from surface).
Scout drilling identified new gold mineralization within a "blind" diorite body lying at the core of the Zone
3 mineralization-controlling synclinorium fold structure, to the north of the Boomerang gold system. With
KBDD24560 returning a mineralized intercept of 4.5 m grading 1.19 g/t Au, including 1.5 m at 2.83 g/t
Au, from a down-hole depth of 178.5 m.
QA/QC
Yves P. Clement, P. Geo, Vice President, Exploration for Xtra-Gold is acting as the Qualified Person in
compliance with National Instrument 43-101 ("NI 43-101") with respect to this announcement.
He has
prepared and or supervised the preparation of the scientific or technical information in this
announcement and confirms compliance with NI 43-101. All samples in this news release were analyzed
by standard fire assay fusion with atomic absorption spectroscopy finish at the ISO 17025:2005
accredited Intertek Minerals Limited's laboratory in Tarkwa, Ghana. Xtra-Gold has implemented a
rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and
analysis of drill core, trench channel, and saw-cut channel samples, the details of which can be viewed
on the Company's website at
www.xtragold.com
.
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a substantial land position in the Kibi Gold Belt.
The Kibi
Gold Belt, which exhibits many similar geological features to Ghana's main gold belt, the Ashanti Belt,
has been the subject of very limited modern exploration activity targeting hard rock gold deposits, as
virtually all past gold mining activity and exploration efforts have been focused on the extensive alluvial
gold occurrences in many river valleys throughout the Kibi area.
Xtra-Gold holds five (5) Mining Leases totaling approximately 226 sq km (22,600 ha) at the northern
extremity of the Kibi Gold Belt.
The Company's exploration efforts to date have focused on the Kibi Gold
Project located on the Apapam Concession (33.65 sq km), along the eastern flank of the Kibi Gold Belt.
The updated Kibi Gold Project (Zones 1-3) Mineral Resource estimate, produced by Xtra-Gold on
September 30, 2024, represents the only Mineral Resource ever generated on a lode gold project within
the Kibi Gold Belt. The NI 43-101 technical report entitled "Xtra-Gold Resources Corporation Kibi Gold
Project", jointly prepared by Pivot Mining Consultants (Pty) and Tect Geological Consulting, and dated
September 30, 2024, is filed under the Company's profile on SEDAR+ at
www.sedarplus.ca
.
Forward-Looking Statements
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this release. No other stock Exchange, securities
commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" which are not comprised of historical
facts. Forward-looking statements include estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-
looking statements are based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties, and other factors involved with forward-looking
information could cause actual events, results, performance, prospects, and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to, the Company's objectives, goals or future
plans, statements, exploration results, potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and estimates of
market conditions. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to complete a feasibility study which recommends a
production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals, political risks, uncertainties
relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, delays in the development of projects,
capital and operating costs varying significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set out in the Company's public
documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should not
be placed on such information, which only applies as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed time frames or at all. The Company disclaims
any intention or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
Contact Information
For further information please contact:
James Longshore
Chief Executive Officer
416-628-2881
E-mail:
Website:
www.xtragold.com
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR THROUGH U.S. NEWSWIRE
SERVICES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/242324