|By Marketwired .||
|May 22, 2014 04:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 05/22/14 -- Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE: XME) is pleased to announce that it has signed a definitive option agreement (the "Agreement") with Metals Creek Resources Corp. to acquire up to a sixty percent interest the Feagan Lake Project which immediately abuts the west side of Zenyatta's Albany project. The acquisition will expand Xmet's existing land package on its Blackflake project by 7,000 acres to over 36,000 acres. The agreement is subject to approval of the TSX Venture Exchange (the "Exchange").
The acquisition, to be designated 'Blackflake West', promises to be a significant acquisition because of a positive 'All Channel' VTEM conductive response, associated with a mag low, obtained over the target in a VTEM airborne survey commissioned by Metals Creek and conducted by Aeroquest in March, 2014, which has now been evaluated by Xmet's technical team.
About Blackflake West
Blackflake West's VTEM survey discovered several new exploration targets exhibiting similar features to that of Zenyatta's hydrothermal graphite discovery. The target with the "All Channel" response, that is also associated with a mag low, is of particular note as this correlates highly with the presence of a graphite resource. This All Channel response is located seven kilometres due west of Zenyatta's hydrothermal graphite occurrence.
The attached image depicts a map of Xmet's land position on the Blackflake and Blackflake West Projects: http://media3.marketwire.com/docs/xme522.pdf
"Blackflake West nicely complements our existing Blackflake land package and we now straddle Zenyatta on both its eastern and western boundaries. In the near term we are looking forward to completing further geophysics and ultimately drilling the 'All-Channel' response target that was identified on the VTEM survey commissioned by Metals Creek," said Alexander Stewart, Xmet's Chairman and CEO.
Bill Yeomans, P. Geo, states, "The Metals Creek VTEM target is well located 7 km due west of the Zenyatta Albany graphite diatreme in an area where the limestone cover is anticipated to be very thin or absent. Follow-up detailed ground electromagnetic geophysical surveys over this high priority Metals Creek VTEM anomaly will assist in planning the location of drill holes."
In order to earn a fifty percent interest in the claims from the Optionor, Metals Creek Resources Corp., Xmet has agreed (a) to make a cash payment of $5,000 and issue 1,000,000 common shares to the Optionor, forthwith after receiving the approval of the Exchange; (b) carry out $60,000 in work obligations, make a cash payment of $15,000 and issue a further 1,000,000 shares to the Optionor within five months of Exchange approval; (c) carry out $150,000 in work obligations within twelve months of Exchange approval; (d) carry out $250,000 in work obligations and issue 500,000 shares to the Optionor within two years of Exchange approval; and (e) carry out $425,000 in work obligations and issue 500,000 shares to the Optionor within three years of Exchange approval. Xmet may then increase its interest from fifty percent to sixty percent within 90 days after earning its fifty percent interest by making a cash payment of $100,000, issuing 1,500,000 shares to the Optionor and conducting $1,000,000 in work obligations over the next year. Xmet may at any time accelerate its obligations to earn its interest earlier. Once Xmet's interest is earned, the project will continue as a joint venture with the Optionor.
About Xmet's Blackflake Project
Xmet's Blackflake Project now comprises over 29,000 acres of 100% owned claims and 7,000 acres of optioned claims approximately 60km to the northwest of Hearst, Ontario and is adjacent to the east and west of Zenyatta's Albany Project. Xmet has conducted multiple airborne electromagnetic surveys, VTEM and TDEM, and ground geophysics which discovered multiple electromagnetic conductors making the targets highly prospective for further exploration. Xmet has developed an excellent working relationship with the Constance Lake First Nation, with whom the company signed an ongoing Exploration Agreement.
The technical information contained in this news release has been approved by William Yeomans, a director of Xmet, who is a qualified person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral projects".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Xmet assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Xmet. Additional information identifying risks and uncertainties is contained in filings by Xmet with Canadian securities regulators, which filings are available under Xmet's profile at www.sedar.com.
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
Dec. 21, 2014 07:00 PM EST Reads: 828
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 21, 2014 06:00 PM EST Reads: 2,020
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
Dec. 21, 2014 02:30 PM EST Reads: 862
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 21, 2014 02:00 PM EST Reads: 2,365
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
Dec. 21, 2014 01:00 PM EST Reads: 836
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 21, 2014 01:00 PM EST Reads: 1,994
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 21, 2014 11:30 AM EST Reads: 2,420
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Dec. 21, 2014 11:00 AM EST Reads: 1,985
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 21, 2014 11:00 AM EST Reads: 2,001
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
Dec. 21, 2014 10:00 AM EST Reads: 1,801
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 21, 2014 10:00 AM EST Reads: 2,054
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
Dec. 21, 2014 10:00 AM EST Reads: 2,156
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 21, 2014 08:30 AM EST Reads: 2,281
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Dec. 21, 2014 06:30 AM EST Reads: 1,982
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's