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X-Cal Resources Ltd.
TSX/XCL October 16, 2007
Link to
printable version of this news release (Adobe Acrobat required).
French version.
Sonic Drill Program Begins at Sleeper
A Sonic Drill Program to gather additional material from the Heap Leach
Pads at Sleeper is underway.
Sonic drilling utilizes high-frequency vibration to pass through
unconsolidated material and obtain a continuous sample, generally without
the use of water, air or mud. The forty-hole program is scheduled for
completion in November.
Column testing of material from the Heap Leach Pads is already in progress
at Kappes, Cassiday & Associates of Reno, Nevada using samples from the
earlier 2007 trenching program. The sonic samples will add to the test
material.
Definition drilling of the Facilities North area, located adjacent to the
heaps, is also nearing completion. The program for this area has used a
combination of reverse circulation (RC) and core drilling.
Near-term project goals call for independent estimates of the gold and
silver mineralization in the Heap Leach Pads and Facilities North areas that
comply with NI 43-101 regulations. Evaluating the potential for a new heap
leach operation at Sleeper will be the next objective, after mineralization
from these two areas is officially quantified.
A comprehensive set of images entitled “Evolution of the Sleeper Gold
Property” has been posted to www.x-cal.com. The presentation documents a
geologic breakthrough at Sleeper, which should assist modeling of the
Facilities North mineralization and near mine exploration at Sleeper.
The 2007 X-CAL Annual Report describes favorable strata/horizons that
localize mineralization. The report contains descriptive graphics, text and
encouraging highlight drill intercepts.
The proposed winter drill program for Sleeper will continue definition
drilling of the West Wood high-grade and testing of the favorable horizon
between West Wood and the North West Target over a +1,500 meter distance
(see highlight intercepts in Annual Report).
The Sleeper Gold Project covers a 30 square mile Epithermal Gold District.
The near-term goals are foundation steps towards the larger exploration
potential of the district as described in the paper “Exploration Potential
of the Sleeper Project, Nevada” by Dr. Richard H. Sillitoe, which can be
found at www.x-cal.com.
The contents of this release have been reviewed by Robert Thomason, M.Sc.,
and Larry Kornze, P.Eng., who are “Qualified Persons” as defined by
NI-43-101.
Shawn Kennedy
President
Caution Concerning Forward-Looking Statements
This release and related documents may
contain certain “forward-looking statements” including, but not limited to,
statements relating to interpretation of drilling results and potential
mineralization, future exploration work at the Sleeper Gold Project, the
Mill Creek Gold Project, the Reese River Project and the Spring Valley Area
Project and the expected results of this work. Forward looking statements
are statements that are not historical facts and are subject to a variety of
risks and uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements,
including, without limitation: risks related to fluctuations in gold prices;
uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work
resulting from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and realize
the perceived potential of the Sleeper Gold Project, the Mill Creek Gold
Project, the Reese River Project and the Spring Valley Area Project;
uncertainties involved in the interpretation of drilling results and other
tests; the possibility that required permits may not be obtained in a timely
manner or at all; risk of accidents, equipment breakdowns or other
unanticipated difficulties or interruptions; the possibility of cost
overruns or unanticipated expenses in the work program; the risk of
environmental contamination or damage resulting from the exploration
operations at the Sleeper Gold Project, the Mill Creek Gold Project, the
Reese River Project and the Spring Valley Area Project.
Forward-looking statements contained in this
release and related documents are based on the beliefs, estimates and
opinions of management on the date the statements are made. There can be no
assurance that such statements will prove accurate. Actual results may
differ materially from those anticipated or projected. X-Cal Resources Ltd.
and X-Cal USA, Inc. undertake no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other factors,
should change.
For further information contact: Shawn
Kennedy, President
Tel: (604) 662-8245 Fax: (604) 688-7740
Visit our web site: www.x-cal.com
E-Mail: invrel@x-cal.com
Note: X-Cal Resources Ltd. can be
referenced through the Standard & Poors Directory.
The 2007 Annual Report is available through X-Cal Resources Ltd.
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