Xtra-Gold Acquires a Fourth Drill Rig to Expedite Drilling at Its Kibi Gold Project
Xtra-Gold Acquires a Fourth Drill Rig to
Expedite Drilling at Its Kibi Gold Project
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) -
Xtra-Gold Resources Corp. (TSX: XTG)
(OTCQB: XTGRF) ("Xtra-Gold" or the "Company"),
is pleased to announce the acquisition of its
fourth (4
th
) diamond drill rig (the "Drill Rig"), which will substantially accelerate the Company's exploration
efforts at our Kibi Gold Project.
The Drill Rig consists of a CS1000/P4 crawler-mounted diamond drill rig
specifically designed for Xtra-Gold.
(Photo of Xtra-Gold's CS1000/P4 Crawler-Mounted Diamond Drill Rig Arriving at Our Mine Camp in
Ghana)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1445/267543_20daa4017460cb91_002full.jpg
Xtra-Gold is unique for a gold exploration company for operating its own fleet of drill rigs, versus
contracting drill rigs from third parties.
This has dramatically reduced our finding cost per ounce of gold
by approximately 80% compared to our peers, which has added significant shareholder value.
James Longshore, CEO/Co-Founder states: "The average cost to contract a drill rig in Ghana is
approximately US$250 per meter, with our drill costs running below US$50 per meter.
Having drilled
over 100,000 meters on our Kibi Gold Project, operating our own drill rigs has saved the Company an
estimated US$20 million to date. With the recent advancement of the Orange No. 5 resource expansion
target potentially expanding our Kibi Gold Project resource "footprint" to over 5 kilometers in strike
length, the addition of this new drill rig will be instrumental in expediting our resource growth."
About Xtra-Gold Resources Corp.
Xtra-Gold is a Ghana-focused gold exploration company with a substantial land position totaling 226
km
2
in the Kibi Gold Belt. The Kibi Gold Belt is geologically analogous to the neighboring, world famous
Ashanti Gold Belt, which is one of the most highly endowed gold belts in the world with estimated global
gold resources totaling over 130 million ounces. Our company is the best positioned explorer to make
the next major gold discovery in Ghana.
Forward-Looking Statements
The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock
exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein. This news release includes certain "forward-looking statements". These
statements are based on information currently available to the Company and the Company provides no
assurance that actual results will meet
management's expectations.
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. Actual results relating to, among other things, results of exploration, project development,
reclamation and
capital
costs
of
the
Company's mineral
properties, and
the Company's
financial
condition
and
prospects,
could
differ
materially
from
those
currently anticipated
in
such
statements
for
many
reasons
such
as:
changes
in
general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation,
legislative,
environmental
and
other
judicial,
regulatory,
political
and
competitive developments; technological and operational
difficulties
encountered
in
connection
with
the activities
of
the Company; and other matters discussed in this news
release.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company does not undertake to update any
forward-looking statement that may be made from time to time by the Company or on its behalf, except
in accordance with applicable securities laws.
Contact Information
For further information please contact:
James Longshore
Chief Executive Officer
Tel.: 242-363-3864
E-mail:
Website:
www.xtragold.com
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/267543