This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Xtra-Gold Provides Exploration Update On Its Expanding Zone 5 Gold Corridor Where Seven Shear Zones Have Been Identified To Date

TORONTO, March 4, 2013 (GLOBE NEWSWIRE) -- Xtra-Gold Resources Corp. ("Xtra-Gold" or the "Company") (TSX:XTG) (OTCQB:XTGRF) is very pleased to announce channel sampling results from a new exposure of the Main Shear, in addition to initial channel sample results from 6 recently identified shear zones forming part of the Zone 5 Gold Corridor, on the Company's wholly-owned Kibi Gold Project, located in the Kibi – Winneba greenstone belt (the "Kibi Gold Belt"), in Ghana, West Africa. Highlights of the channel sampling results and Zone 5 Gold Corridor expansion work reported today include:

  • New gold shoot discovered along Main Shear approximately 350 m southwest of discovery high-grade gold shoot; with shear consisting of braided (anastomosing) structure attaining 13 m in width and encompassing 4 sinuous mylonitic branches ranging from approximately 0.4 m to 4 m in width. Highlights from channel sampling of mylonitic shear branches include: 2.5 m grading 4.71 g/t gold and 3.9 m grading 5.9 g/t gold in channel sample strings #KBCS080-7 and #KBCS080-9, respectively (SE Branch); 1.1 m grading 14.77 g/t gold, including 26.1 g/t gold over 0.5 m in #KBCS080-18 (Central Branch); and 1.5 m grading 10.47 g/t gold, including 20.4 g/t gold over 0.5 m and 1.6 m grading 11.14 g/t gold, including 17.8 g/t gold over 0.8 m in strings #KBCS080-2 and #KBCS080-5, respectively (NW Branch).  
  • Geological mapping/sampling to date indicates that the Zone 5 Gold Corridor corresponds to a minimum 325 m wide braided shear zone system encompassing at least 7 auriferous shear zones; with the Main Shear traced to date over an approximately 475 m strike length. The auriferous shear zone system is spatially associated with an approximately 1.8 km long by 300 m to 800 m wide, NE-trending, anomalous gold-in-soil trend.  
  • Extensive arrays of mineralized low-angle extensional quartz-tourmaline veins spatially associated with all 7 shear zones; greatly enhancing the bulk mining potential of the Zone 5 Gold Corridor.

The present exploration results correspond to an ongoing mechanized outcrop stripping / trenching transect designed to test the southwestern strike extension of the Main Shear and define the full width extent of the NE-trending Zone 5 Gold Corridor. Approximately 65% (325 m) of the planned 500 m long, NW-trending transect located approximately 350 m southwest of the discovery high-grade gold shoot has been completed to date; with the transect positioning based on favorable topography in combination with shallow overburden cover, previously identified gold-bearing structures, and priority geophysical targets.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs