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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts