Xmet has filed for exploration and drilling permits to start further exploration work on its Blackflake project in February.

The permits were submitted to Ontario’s Ministry of Northern Development and Mines.

Xmet has also expand staked an additional 8,000 acres of 100% owned claims adjacent to the Zenyatta Albany graphite deposit.

Coincident with magnetic lows, the claims have been staked within the border phase of the carbonatite/alkaline intrusion which hosts the Zenyatta graphite breccia pipes.

Xmet chairman and CEO Alexander Stewart said the company has very substantial land package of over 29,000 acres which holds a number of additional EM targets.

"Our focus remains on drilling and defining our prime target which bares remarkable geophysical similarity to the neighbouring Albany Project owned by Zenyatta," Stewart added.

"It was the area’s potential for a polymetallic discovery that initially drew Cliffs and Zenyatta to the region."

Xmet’s Blackflake project is located adjacent to Zenyatta’s hydrothermal graphite deposit and covers 29,000 acres of 100% owned claims approximately 60km to the northwest of Hearst, Ontario, Canada.