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Xmet Discovers Large New Conductive Target after completing its Second EM Survey at Blackflake Project, near Zenyatta

Toronto, Ontario – December 12th, 2013 - Xmet Inc. (“Xmet” or the “Company”) (TSXV-XME, OTCQX-XMTTF) is pleased to report that it has flown a second EM survey over its newly staked land position disclosed in the December 3rd, 2013 news release and it has evaluated the preliminary results from the new 116 line kilometre MAG-TDEM survey.

Xmet’s CEO, Alexander Stewart says, “As a result of this second EM survey, Xmet has discovered a new strong conductive anomaly measuring approximately 300 metres by 800 metres and has since completed additional staking to cover the entire anomaly and abutting lands to bring its project total to 237 claim units. This anomaly is of particular interest as its size and strength of response supersedes the previously discovered anomalies and will be our immediate focus. Xmet now has three conductive anomalies of significant size and considers these results to be very encouraging towards its objective of discovering and defining a hydrothermal graphite deposit on its Blackflake Project. Our next step is to drill these targets and prove up what we have.”

Bill Yeomans, P.Geo. states that “The preliminary data from our new MAG-TDEM survey indicates a large north northeast trending anomaly with a strong electromagnetic response measuring approximately 300 metres by 800 metres situated within a magnetic low flanking northwest trending magnetic diabase dikes.(see Figure 1). Xmet has since staked the eastern and northern parts of the anomaly not shown in Figure 1. The anomaly was crossed by a tie line which shows a well-developed conductor about 300 metres wide that is responding on most channels (see Figure 2). This favorable environment bears similarities to the setting in which the Zenyatta hydrothermal graphite pipes were emplaced. The strong Zenyatta conductors are circular in nature and are situated within a magnetic low flanking the margin a northwest trending diabase dike.”

The Blackflake Project consists of two separate blocks of claims located proximal to the eastern and the northwestern margins of Zenyatta’s Albany project. A significant, potentially economic hydrothermal graphite deposit was discovered on Zenyatta’s Albany project during a 2011 drilling program which tested a strong electromagnetic conductor. The conductor was identified on the Albany claims in 2010 by a Geotech VTEM airborne survey. The nearby Blackflake claim blocks share similar geological and structural features to Zenyatta’s Albany hydrothermal graphite discovery.

The technical information contained in this news release has been approved by William Yeomans, a director of Xmet, who is a Qualified Person as defined in ‘National Instrument 43- 101, Standards of Disclosure for Mineral Projects. 


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General kesef