Xmet stakes 129 claims in Grasset Township, Quebec

Mineral explorer Xmet (CVE:XME) said on Thursday that it has staked 129 claims in Grasset Township, Quebec, just east of Balmoral Resources’ (CVE:BAR) recent gold discovery.
Xmet’s staked ground, which comprises of 7,160 hectares, covers 11 kilometres of the Detour-Sunday Lake Deformation Zone. The area is considered highly prospective for gold mineralization.
Earlier this year, a new gold discovery was reported on Balmoral’s Grasset property, with drill hole FAB-11-44 returning 33 metres grading 1.66 grams per tonne (g/t) and 4.04 metres grading 6.15 g/t gold, as well as 5 metres grading 4.18 g/t gold.
The hole was drilled 88 kilometres east of the 20 million ounce Detour gold deposit in Ontario, along a major structure known as the Detour-Sunday Lake Deformation Zone, in Quebec. Xmet said the find reflects the fourth major gold discovery made by Balmoral on their land package.
Balmoral's Grasset Township discovery is also located 8 kilometres east of its Fenelon discovery, where the same favourable structure trends along the margin of a gabbroic intrusion, characterized by a 50 metre wide zone of quartz carbonate alteration and mineralization, Xmet said. Results from Balmoral at Fenelon include 97.33 g/t gold over 6.33 metres.
Five short diamond drill holes were collared on Xmet's Grasset Township claims in 1959, with historic gold values reporting up to 0.93 g/t gold over 1.83 metres. The Detour-Sunday Lake structure has not been previously drill tested on the property.
Xmet, through its wholly-owned subsidiary Duquesne-Ottoman Mines, carries out gold resource exploration and development.