Xmet Inc. (TSXV:XME) announced that it has completed a second EM survey over the land position it disclosed in a news release put out on December 3. Alexander Stewart, Xmet’s CEO, said that as a result of the survey, the company 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.”
The company has also evaluated preliminary results from a new 116 line kilometer MAG-TDEM survey.
Bill Yeomans, P.Geo., commented:
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.