Xtra-Gold Resources Corp.
OTC Bulletin Board : XTGR

Xtra-Gold Resources Corp.

May 05, 2010 09:13 ET

Xtra-Gold Resources Corp.: Preparation for Phase 3 Drill Program has Commenced on Kibi Gold Discovery in Ghana, West Africa

Xtra-Gold Resources Corp. ("Xtra-Gold" or "the Company"): Symbol is "XTGR" on the OTCBB

TORONTO, ONTARIO--(Marketwire - May 5, 2010) - Xtra-Gold Resources Corp. (OTCBB:XTGR) -

The company has commenced road construction and trenching in preparation for a minimum of 5000 meters of diamond drilling. The drill program will focus on Zone 2 of the Kibi Gold Discovery, to expand the granitoid-hosted gold mineralization identified in previous drilling. To date the company has drilled 68 drill holes (7716 meters), over a roughly 2 kilometer distance along the Kibi Gold Trend; an over 5.5 kilometer long, NE – trending, anomalous gold-in-soil trend characterized by four (4) extensive higher grade zones. Xtra-Gold's original drill holes were the first ever drilled in this area, and this next program will focus on some in-fill drilling to determine the resource potential of Zone 2 in the Kibi Gold Trend. Drilling highlights from the last drill program include the following granitoid – hosted gold mineralization intercepts (see September 29, 2010 and October 28, 2010 news releases). 

-9.23 grams gold per tonne over 39 meters
-6.29 grams gold per tonne over 23 meters
-1.62 grams gold per tonne over 76 meters

Over the last several months our geological team has completed detailed mapping of the mineralized granitoid bodies, and commissioned SRK Consulting to complete a structural geology study to better understand the mineralization controls. The company believes that this work will help prioritize the extensive geophysical and geochemical drill targets present along the over 5.5 kilometer long Kibi Gold Trend. 

About Xtra-Gold

Xtra-Gold Resources Corp. is a gold exploration company with a dominant land position in the highly prospective and under explored Kibi–Winneba greenstone belt ('Kibi Gold Belt') located in Ghana, West Africa. For further information, please visit our website at www.xtragold.com. If you have any questions, please contact James Longshore, President, at 416-579-2274.

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws. 

Contact Information

  • Xtra-Gold Resources Corp.
    James Longshore
    President
    416-579-2274
    www.xtragold.com