Xtra-Gold reports Kibi resources at 13.89 Mt of 1.40 g/t gold, Ghana

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Xtra-Gold Resources Corp. [XTG-TSX; XTGRF-OTCQB] released the results of an updated mineral resource estimate on its 100%-owned Kibi gold project in the Kibi-Winneba greenstone belt, Ghana, West Africa.

The independent resource estimate, with an effective date of September 30, 2021, incorporates an additional 212 diamond core boreholes (25,198.55 metres) completed since the October, 2012, maiden resource estimate. This includes 158 holes (21,321.45 m) completed from February, 2018, to June, 2021, by Xtra-Gold’s in-house drilling crews on resource expansion targets within the zone 1, zone 2, zone 3 gold-in-soil anomalies.

The new Mineral Resource encompasses updated resource estimates for the following five deposits: Big Bend, East Dyke, Mushroom, South Ridge and Double 19; and initial resource estimates for the following three deposits: Road Cut, Gatehouse and Gold Mountain.

In aggregate, these eight auriferous bodies are estimated to contain an Indicated Mineral Resource of 623,700 ounces of gold and an additional Inferred Mineral Resource of 180,700 ounces of gold. In comparison to the 2012 Maiden Resource Estimate, the updated Mineral Resource represents increases of 124.4% in the Indicated category and 22.9% in the Inferred category. Approximately 73% of the Indicated Mineral Resources (456,200 oz.) is contained within the essentially contiguous Big Bend and East Dyke deposits.

In total, Indicated Resources stand at 13,893,000 tonnes of 1.40 g/t gold with Inferred Resources of 5,694,000 tonnes of 2.80 g/t gold.

“We see this Mineral Resource update as a solid base on which to continue growing the Kibi Gold Project resource. We are very pleased with the more than doubling of the Indicated Mineral Resource from the Maiden Resource Estimate, as well as with the enhanced understanding of the litho-structural controls of the gold mineralization gained through the updated 3D deposit models,” remarked Jim Longshore, Xtra-Gold’s President and CEO.

“As a result of this greater mineralization control confidence, ongoing exploration drilling by our in-house drilling crews since the late July 2021 Mineral Resource database close-out date has identified additional targets for potential resource growth within the Zone 1 – Zone 2 – Zone 3 Mineral Resource footprint area, further supporting our belief that we are on the verge of proving up a significant new gold complex,” added Longshore.

Xtra-Gold is a gold exploration company with a substantial land position in the Kibi Gold Belt. The Kibi Gold Belt, which exhibits many similar geological features to Ghana’s main gold belt, the Ashanti Belt, has been the subject of very limited modern exploration activity targeting lode gold deposits, as virtually all past gold mining activity and exploration efforts have been focused on the extensive alluvial gold occurrences in many river valleys throughout the Kibi area.

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 along the eastern flank of the Kibi Gold Belt.

 

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