The above intercept from 18.2m also included 21.5m at 5.13g/t.

"These results have confirmed the down-plunge continuity of the central fold hinge gold shoot, outside the scope of the current inferred mineral resource, as well as impactfully increased the resource expansion potential along the limbs of the fold structure," CEO James Longshore said.

The company has said its immediate goal is to define 1 million ounces of gold at Kibi.

The project has a 2012 estimate across five deposits, including Double 19, comprising an indicated 3.38 million tonnes grading 2.56g/t gold for 278,000 ounces and an inferred 2.35Mt at 1.94g/t for 147,000oz.

Double 19 has an inferred 0.61 million tonnes at 2.43g/t for 48,000 ounces.

Xtra-Gold said the 2012 estimate was the first mineral resource generated on a lode gold project within the Kibi gold belt.

The company has said it mostly funded exploration through its community mining project, where it had a subcontracting arrangement with small-scale miners to enhance local employment and monetise the "extensive alluvial gold assets" on its landholdings.

It reported record second quarter earnings on gold sales in August, saying its net income had risen from about US$514,000 a year earlier to $1.2 million.

"We are very proud of our community mining project, and our shareholders should benefit significantly as we strive to expand our gold resource base," Longshore said at the time.

"Also, with the significant increase in gold prices this year, our company is fully financed for the next two years to execute our business plan, requiring no outside financing."

Over the past year, its shares (TSX: XTG) have ranged from C40c to a recent peak of $1.54.

They closed up 6.2% to $1.19 yesterday to capitalise it at $55.7 million (US$42.6 million).