Xtra-Gold expands boomerang gold system at Kibi Project, Ghana

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Xtra-Gold Resources Corp. [TSX-XTG; OTCQB-XTGRF] reported further positive assay results for an additional 12 diamond core boreholes totaling 4,108 metres from its current exploration drilling program on the s wholly-owned Kibi Gold Project, located in the Kibi – Winneba greenstone belt, Ghana, West Africa.

Today’s drilling results include 9 drill holes (3,398 m) dedicated to the further expansion/definition of the Boomerang gold system (formerly Boomerang East and Boomerang West targets) and 3 scout drill holes (710 m) targeting prospective litho-structural settings generated by the recently completed 3D VTEM/TMI inversion-modelling.

The current drilling forms part of an aggressive in-house drilling initiative focussing on multiple resource expansion targets occupying the south-western (Zone 3) portion of the mineralization-hosting first-order F2 synclinorium fold structure; over 1 km beyond the limits of the currently defined Mineral Resource Estimate.

Present drilling efforts successfully discovered new high-grade gold zone at depth, expanding the stacked, multi-shoot Boomerang gold system across an approximately 370 metres cross-plunge distance; further defined the robust grade and down-plunge continuity of the main Lower Shoot gold zone; and extended the Lower Shoot mineralization approximately 100 metres further down-dip at the northeast extremity of the gold system. Assay results include the following highlights.

New High-Grade Gold Zone (Boomerang “Deep”): 9.0 metres at 9.29 g/t gold, including 4.5 metres at 16.94 g/t gold, from 400.0 metres in KBDD23536 (~90 m stratigraphy below (cross-plunge) of main Lower Shoot)

Definition Drilling (Boomerang – Main “Lower Shoot” Gold Zone): 56.0 metres at 1.40 g/t gold, including 20.0 metres at 2.54 g/t gold, from 166.0 metres in KBDD23530; 50.0 metres at 1.28 g/t gold, including 22.0 metres at 1.93 g/t gold, from 258.0 metres in KBDD23536.

Expansion Drilling (Boomerang – SE Lateral / Down-Dip Extension & SW Strike-Extension): 55.1 metres at 0.75 g/t gold, including 39.3 metres at 0.95 g/t gold, and including 19.3 metres at 1.45 g/t gold, from 353.9 metres in KBDD23538 (extending Lower Shoot ~100 further down-dip); 20.0 metres at 0.84 g/t gold from 134.0 metres; and 28.0 metres at 0.47 g/t gold from 163.0 metres in KBDD23534 (Upper Shoot (s)); 4.5 metres at 12.72 g/t gold, including 1.5 metres at 33.73 g/t gold, from 145.5 metres in KBDD23535 (SW Shoot – formerly Boomerang West target).

James Longshore, President and CEO remarked: “We are encouraged by these promising drill results, with the definition drilling not only continuing to show good down-plunge continuity in mineralization, but also expanding the Boomerang gold system with the discovery of a new high-grade gold zone at depth. These additional broad, robust gold intercepts from definition holes KBDD23530 and KBDD23536 continue to better define the grade and geometry of the main Lower Shoot mineralization, as well as further bolster our litho-structural understanding of the gold system. We look forward to further drill testing this exciting, new high-grade, visible gold-bearing mineralization zone in the New Year.”

Today’s Kibi Gold Project drill results correspond to the latest 12 drill holes (4,108 m) of an ongoing exploration initiative targeting multiple resource expansion opportunities within the south-western (Zone 3) portion of the gold mineralization-hosting first-order F2 synclinorium fold structure.

The 12 diamond core boreholes were completed by the company’s in-house drilling crews from early August to late November 2023, including: 3 SW-trending definition drill holes (1,341 m) designed to further test the down-plunge continuity of the NE-plunging, stacked, multi-shoot Boomerang gold system, 6 expansion drill holes (2,057 m) targeting the south-western strike-extension and south-eastern lateral continuity of the Boomerang gold system, and 3 scout drill holes (710 m) to further define the litho-structural setting of the recently 3D VTEM / TMI inversion-modelling generated Double 19 – SW target. Drill results for a total of 132 holes (26,968.5 m) have been reported to date for the ongoing Zone 3 resource expansion drill program initiated following the database close-out date for the current 2021 MRE.

Recently completed 3D VTEM/TMI inversion models-based litho-structural modelling work, conducted by Tect Geological Consulting of South Africa, indicates that the gold mineralization within the Zone 2 – Zone 3 MRE footprint area occupies a licence-scale, first-order F2 synclinorium fold structure.

Xtra-Gold holds 5 Mining Leases totaling approximately 226 km2 (22,600 ha) at the northern extremity of the Kibi Gold Belt. The company’s exploration efforts to date have focused on the Kibi Gold Project located on the Apapam Concession (33.65 km2), along the eastern flank of the Kibi Gold Belt. The Kibi Gold Project (Zones 1-3) Mineral Resource Estimate, produced by Xtra-Gold on September 30, 2021, represents the only Mineral Resource ever generated on a lode gold project within the Kibi Gold Belt.

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