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Last $0.0065 USD
Change Today +0.0015 / 30.00%
Volume 31.0K
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

xmet inc (XMTTF) Snapshot

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xmet inc (XMTTF) Details

Xmet Inc., an exploration stage company, engages in the exploration and development of mineral properties in Quebec and Ontario, Canada. It explores for gold, copper, and deposits. The company has interests in the Duquesne-Ottoman property that covers an area of 928.6 hectares and is located to the north of the Rouyn-Noranda city, Quebec; and the Grasset Property, which consists of 114 contiguous exploration licenses covering an area of 1,846 hectares and is located to the west of Matagami, Quebec. It also has interests in the Authier Property that comprises 135 claims covering 2,169 hectares and is located in the western Abitibi Region of Quebec. The company is headquartered in Toronto, Canada.

xmet inc (XMTTF) Top Compensated Officers

Executive Chairman, Chief Executive Officer a...
Total Annual Compensation: C$120.0K
Chief Financial Officer, Corporate Secretary ...
Total Annual Compensation: C$48.0K
Compensation as of Fiscal Year 2014.

xmet inc (XMTTF) Key Developments

Xmet Inc. Provides Updates for its Three Current Projects, the Win-Win, Blackflake West and Grasset

Xmet Inc. provided updates for its three current Projects, the Win-Win, Blackflake West and Grasset. Xmet plans to commence work on its Win-Win project this summer with a ground reconnaissance program and a geophysical survey. Results pending this would be followed by a drill program aimed at areas of thickening of the mineralization along the known NW-SE trending mineralized trend and will test for NE-SW trending structures, parallel to the Monster trend. Historical drilling results on Win-Win are very encouraging and demonstrate shallow mineralization less than 80 metres downhole ranging from 2.13 gpt to 4.61gpt over 2.35 metres to 6.6 metres. The Blackflake West drill campaign confirmed the existence of an extensive Volcanogenic Massive Sulphide system with wide zones of mineralized rock. Assay results from the detailed sampling along the four holes confirms the anomalous base metal and gold values obtained in the rush sampling. The El Gordo target returned a maximum of 0.34% Zn over 4.0 metres in siliceous metamorphosed rhyolite with sulphide stringers and the El Nino target returned a maximum of 0.36% Zn and 503ppm Cu over 3.0 metres in semi massive to massive sulphide. Xmet management is reviewing the data from the project, specifically the lithogeochemical sample results in order to decide the next steps to be taken on the project. The data received from the drill program and its subsequent testing will be further evaluated given the presence of a Volcanogenic Massive Sulphide system as opposed to a hydrothermal graphite occurrence following which Xmet will finalize its exploration strategy going forward. The company has spent the necessary funds to retain its option in good standing through May of 2017 and has completed sufficient work for assessment purposes to hold the claims at least through 2018. The Grasset drill campaign focused on two distinct target environments, one originating from the VTEM survey as per the Release of December 11, 2014 and the other which was a group of targets identified from an Induced Polarization program completed in 2013. The VTEM target were drilled and tested for gold and Polymetallic potential while the IP targets were tested for gold. All initial drilling on the Grasset focussed on ground IP targets along the location of the previously estimated SLDZ. The assay values returned a maximum grade of 0.4g/t Au/1.0m in DDH GR-15-01B within a felsic intrusive unit with chloritic alteration seams. The drilling of the VTEM anomaly on the eastern part of the Grasset claim block returned grades of a maximum of 0.2g/t Au/1.0m, 0.2% Cu/1.0m, and 0.2% Zn/1.0m in DDH GR15-11 within sections of semi-massive to massive sulphides with chlorite alteration and zones of a mixture of highly siliceous-sericitized foliated rock of fine grained amphibolite and granodiorite injections. It is apparent that the Detour-Sunday Lake Deformation Zone is a complex fault up to a kilometre wide on Xmet's 100% owned land package. The company believes its Grasset project has additional potential for discovery as there are numerous targets that could not be drilled as a result of the onset of spring breakup. Xmet plans to follow up on these targets when conditions permit.

Xmet Inc. Announces Resignation of William Yeomans to its Board of Directors

Xmet Inc. announced the resignation of William Yeomans from its Board of Directors.

Xmet Inc., Annual General Meeting, Jul 28, 2015

Xmet Inc., Annual General Meeting, Jul 28, 2015., at 10:00 US Eastern Standard Time. Location: at the offices of Gowling Lafleur Henderson LLP1 First Canadian Place,. Agenda: To receive the audited financial statements of the corporation for the year ended December 31, 2014; to elect the directors of the corporation; to appoint the auditors of the corporation for the upcoming year and to authorize the directors to fix the remuneration to be paid to the auditors; to consider and, if deemed advisable, pass an ordinary resolution providing for the annual approval of the corporation's stock option plan for the upcoming year; to consider consolidation of the outstanding common shares; and to transact any other business that may properly come before the meeting or any adjournment of the meeting.


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