Xmet Provides Highlights of Phase 1 Drilling at Duquesne-Ottoman

TORONTO, ON, April 28 /CNW Telbec/ - Xmet Inc. (TSXV: XME) is pleased to provide a summary table of drilling highlights from the Phase 1 drilling program obtained over the past six months on the Duquesne-Ottoman project. This drilling program targeted expansion of the current 43-101 resource as well as under-explored areas on the property. The most current 43-101 gold mineral resource for the property was reported on September 21, 2010, with 2,731,276 tonnes at an average grade of 5.29 g/t Au (6.00 g/t Au uncut), hosting 465,000 ounces Au (525,000 ounces Au uncut).

Drilling targeted resource expansion at the N Shaft, Shaft, South Shaft, Fox and Liz Zones, while exploration drilling targeted the 20-20 and Nip Zones. Table 1 is a summary of all significant drill intercepts reported over the past six months. All reported assay intervals were cut to 30 g/t Au unless otherwise stated. True width is estimated to be 80% of reported widths.

Table 1. Highlights of Phase 1 Drilling Program at Duquense-Ottoman

Hole No. Zone From (m) To (m) Length (m) Au g/t
DO-10-01 Shaft 57.46 62.18 4.72 1.45
DO-10-02 Liz 79.30 87.55 8.25 1.37
  including 84.00 87.55 3.55 1.96
  Shaft 232.54 235.92 3.38 3.19
DO-10-03 South Shaft 188.63 191.23 2.60 1.74
DO-10-04 Shaft 576.72 577.92 1.20 3.39
DO-10-04 Fox 671.45 675.35 3.90 2.04
DO-10-05 20-20 329.20 336.90 7.70 6.65
  including 329.20 333.50 4.30 10.01
DO-10-08 Shaft 43.80 46.60 2.80 2.41
DO-10-09 North Shaft 180.50 183.70 3.2 2.52
DQ-09-09 Nip 304.5 321.0 16.5 5.25
  including 305.5 309.5 4.0 17.24
DO-10-12 Liz 22.90 23.60 0.70 2.12
DO-10-12 Shaft 70.95 74.05 3.10 3.22
DO-10-12 Fox 189.85 195.40 5.55 1.76
DO-10-14 20-20 448.20 451.65 3.45 4.05
DQ-10-14 Nip 148.5 150.0 1.5 8.97
DQ-10-15 Nip 114.5 117.0 2.5 5.40
DO-10-15 Shaft 204.10 207.00 2.90 2.38
DQ-10-17 Nip 101.0 118.0 17.0 2.95
DQ-10-18 Nip 267.0 270.0 3.0 5.60
DO-10-19 Liz 63.75 64.75 1.00 5.23
DO-10-19 Fox 349.75 351.90 2.15 3.45
DQ-10-20 Nip 241.5 244.0 2.5 3.53
DQ-10-21 Nip 280.5 282.0 1.5 1.03
DO-11-20 20-20 378.45 386.55 8.10 3.20
DQ-03-18-ext Fox 550.80 554.35 3.55 11.86
DO-11-23 Fox 993.5 1005.5 12.00 3.04
DO-11-28 Nip 266.85 269.20 2.35 12.81

All drill results reported presented in Table 1 were obtained after the September 21, 2010 43-101 resource estimate was published on SEDAR (www.sedar.com). The results in Table 1 demonstrate that Xmet has successfully targeted extensions of potential gold mineralization surrounding the current 43-101 resource during the phase 1 program, which has just been completed with 13,000m drilled. Assays are pending for the last three holes. Highlights also included many significant intersections at Nip and the new 20-20 Zone, which represent two significant and exciting target areas for the upcoming 2011 exploration field season.

Quality Assurance and Quality Control

Mr. Bill Yeomans, P. Geo., is a qualified person under National Instrument 43-101 and was responsible for this news release. Material samples for analysis and assay have been obtained from drill core which was cut in half using a diamond saw. Half of the core was sent to the lab for analysis and the remaining half preserved for future reference. A strict QA/QC program is followed which includes the use of certified pulp standards, blanks and verification analyses in a second laboratory. Analyses were performed by Activation Laboratory Limited of Ste-Germaine Boulé, Quebec.

About Xmet Inc

Xmet Inc., through its wholly-owned subsidiary Duquesne-Ottoman Mines Inc. ("Duquesne-Ottoman Mines"), carries out gold resource exploration and development. Pursuant to the terms of a mining option agreement between Duquesne-Ottoman Mines and Duparquet Assets Ltd., Duquesne-Ottoman Mines can earn an option to purchase 75% of the common shares in the capital of Duparquet Assets Ltd, which legally and beneficially owns 20 claims (commonly referred to as Duquesne West) and 40 claims (commonly referred to as Ottoman) covering an area of 928.6 hectares located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of Quebec.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

 

 

SOURCE XMET INC.

For further information:

Xmet Inc.
Charles Beaudry, President and COO
Phone (416) 644-6588
E-mailcbeaudry@xmet.ca
or
Tim Gallagher, Director
Phone: (416) 925-0090
E-mail: tim@inflectioncapital.ca

Renmark Financial Communications Inc. 
Maurice Dagenais: mdagenais@renmarkfinancial.com
Matthew Planche : mplanche@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com

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XMET INC.

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