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Xtra-Gold Resources Lifts Kibi Indicated Gold Resource 33% to 1.4 Million Ounces

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XTGCA$2.40 5.26%

Xtra-Gold Resources Corp. (TSX:XTG) released an updated mineral resource estimate for its Kibi project, expanding indicated gold resources to 1.40 million ounces grading 1.12 grams per tonne. This represents a 33% increase in indicated ounces compared to the prior 2024 estimate. In addition, the deposit holds 0.18 million inferred gold ounces at an average grade of 0.99 grams per tonne. Following the announcement, shares of the company slipped 2.15% to 2.28 CAD.

The expanded resource boosts higher-confidence gold ounces that can enhance project value and support future financing choices. The footprint remains compact with 11 deposits spanning roughly 4.5 kilometers, which could help lower infrastructure and operational costs. Furthermore, four core deposits contain 87% of the indicated ounces, simplifying potential early mine planning.

Looking ahead, key items to monitor include economic studies, potential conversion of inferred resources, and permitting clarity on the Buffer Zone, which is currently awaiting a lease extension.

Key points

  • Indicated gold resources at the Kibi project grew 33% compared to 2024, reaching 1.40 million ounces at 1.12 grams per tonne.
  • Inferred resources stood at 0.18 million gold ounces at an average grade of 0.99 grams per tonne.
  • Four of the 11 deposits contain 87% of the indicated resource within a tight 4.5-kilometer footprint.
  • Permitting approval for the Buffer Zone remains pending while awaiting a lease extension.

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Questions and answers

What is the updated gold resource size for Xtra-Gold's Kibi project?

The updated estimate shows an indicated resource of 1.40 million gold ounces at 1.12 g/t and an inferred resource of 0.18 million gold ounces at 0.99 g/t.

How much did Xtra-Gold's indicated gold resource grow compared to 2024?

The indicated gold resource grew by 33% compared to the 2024 mineral resource estimate following drilling across the project.

Where are the main deposits located within the Kibi project?

The project encompasses 11 deposits within approximately 4.5 kilometers, with four primary deposits holding 87% of the total indicated gold resource.