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Xmet Inc. (TSXV:XME,OTCQX:XMTTF) announced that it has contracted Aeroquest International to conduct a helicopter airborne Versatile Time Domain Electromagnetic (VTEM Plus) and Horizontal Magnetic Gradiometer Geophysical Survey on its Northeastern Ontario-based Blackflake project.

Xmet Inc. (TSXV:XME,OTCQX:XMTTF) announced that it has contracted Aeroquest International to conduct a helicopter airborne Versatile Time Domain Electromagnetic (VTEM Plus) and Horizontal Magnetic Gradiometer Geophysical Survey on its Northeastern Ontario-based Blackflake project.

Blackflake is made up of two separate claim blocks, both of which abut Zenyatta Ventures Ltd.’s (TSXV:ZEN) Albany graphite discovery. Together, the blocks hold 181 claim units.

As quoted in the press release:

A significant, potentially economic hydrothermal graphite deposit was discovered on Zenyatta’s Albany project during a 2011 drilling program which tested a strong electromagnetic conductor. The conductor was identified on the Albany claims in 2010 by a Geotech VTEM airborne survey. The nearby Blackflake claim blocks share similar geological and structural features to Zenyatta’s Albany hydrothermal graphite discovery. The current VTEM Plus and magnetic surveys will provide complete coverage with 340 kilometres of lines flown at 100 meter line spacing over the 181 claim units on the two Blackflake claim blocks.

Alexander Stewart, Xmet’s chairman and CEO, commented:

With all the activity occurring in and around Zenyatta’s Albany Project, Xmet is uniquely positioned as it is one of the few companies that have rapidly proceeded to acquire a significant land position land and perform airborne VTEM and magnetic surveys in the immediate vicinity of the Albany graphite discovery. We see this as an opportunity since the Blackflake properties have never been previously tested by EM surveys although the ground is favorably located close to the Albany graphite diatremes. The results of the upcoming VTEM survey when studied in conjunction with our already defined magnetic lows on Blackflake, will allow us to test our theory that graphitic diatremes may possibly occur in clusters. If the VTEM Plus survey on Blackflake identifies strong geophysical EM conductors similar to the electromagnetic conductors associated with the Zenyatta graphite discovery, we will quickly look to further test such anomalies through follow-up drilling. The timing of commencing and completing the VTEM survey will depend on current weather conditions in the Hearst region.

Click here to read the full Xmet Inc. (TSXV:XME,OTCQX:XMTTF) press release. 

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