Xtra-Gold Announces Updated Mineral Resource Estimate for Kibi Gold Project
News related to:Xtra-Gold Resources Corp · 2 min read
Xtra-Gold Resources Corp., a Toronto-based company, has announced an updated Mineral Resource Estimate for its Kibi Gold Project in Ghana, West Africa. The new estimate, effective as of October 1, 2026, incorporates an additional 123 diamond drill holes, totaling 27,384.5 meters, completed since the previous September 2024 Mineral Resource Estimate.
The Kibi Gold Project, located in the Kibi-Winneba greenstone belt, now includes an updated resource estimate for the Boomerang deposit, as well as an initial declared Mineral Resource for the Orange No. 5 deposit. In aggregate, eleven auriferous bodies, lying within approximately 4.5 kilometers of each other, are estimated to contain an Indicated Mineral Resource of 1,404,900 ounces of gold and an additional Inferred Mineral Resource of 180,800 ounces of gold.
The mineral resource estimate was prepared by Pivot Mining Consultants (Pty) Ltd and Tect Geological Consulting, in accordance with the guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). The Boomerang deposit, situated in Zone 3, is estimated to contain 1,227,300 gold ounces of Indicated Mineral Resource based on 39,007,000 tonnes at an average grade of 1.12 grams per tonne (g/t) gold. The Orange No. 5 deposit, in Zone 4, is estimated to contain 180,800 gold ounces of Inferred Mineral Resource based on 5,693,000 tonnes at an average grade of 0.99 g/t gold.
The mineral resource estimate encompasses an extensive database of 765 drill holes, totaling 136,326.99 meters, including 715 diamond drill holes (131,611.99 meters) and 50 reverse circulation (RC) drill holes (4,715 meters). This database was updated to include the additional 123 diamond core drill holes completed since the 2024 Mineral Resource Estimate.
The mineral resource estimation utilized a lower cut-off of 0.4 g/t gold and an average density value for oxide, transition, and fresh materials, reflecting weighted averages for each deposit. The estimation was undertaken separately for each auriferous body using the Ordinary Kriging method, with a block model cell size of 5 meters x 5 meters x 5 meters. Assay capping values were established for each deposit independently, ranging from 12.5 g/t to 25 g/t gold.
The mineralization within the Kibi Gold Project consists predominantly of tensional arrays of auriferous quartz-carbonate veins hosted within or spatially associated with F1 or F2 folded/diased diorite units, and/or metasedimentary rock-diorite contacts. Over 20 significant gold occurrences hosted by Belt (Dixcove)- and Basin (Cape Coast)-type granitoids are known in Ghana, with a number constituting significant deposits.
The mineral resource estimate is subject to the approval of the extension/renewal of the Apapam mining lease, which was applied for on June 17, 2015, and updated on June 28, 2019. Although the Company has taken all legal steps to extend the lease with the addition of the Buffer Zone, there is no assurance that such approval will be granted. In the interim, under Ghanaian mining law, the existing lease continues to remain in full force and effect.