Published on: 3/31/2014 2:16:22 PM Print | Font Sizes:  Normal Text Large Text

Graphite hunter starts drill campaign

By: Northern Ontario Business staff

Xmet has contracted Asinii Drilling Inc. to start work on the company’s Blackflake Project near Hearst.

In March 28 release, the Toronto junior miner reported line cutting is finished and ground geophysics is underway.

The 1,500-metre drill program will initially target a large electromagnetic anomaly and will be wrapped up before winter ice break-up.

Company chairman and CEO Alexander Stewart is happy to start drilling.

“The Blackflake Project has evolved from a single target to a multiple target project, each of which we view as highly prospective. Given the number of bedrock anomalies identified to date, Xmet expects that the total drill program will extend over a number of months. Details on the next phase will be determined upon completion of this initial phase.”

Xmet's Blackflake Project, which comprises more than 29,000 acres, is located 60 kilometres northwest of Hearst and is adjacent to Zenyatta Ventures’ graphite deposit.

The company said it has discovered multiple electromagnetic conductors making the targets highly prospective for further exploration. They’ve also signed an exploration agreement with the nearby Constance Lake First Nation.

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