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Xtract Resources PLC - miner with projects in Mozambique and Zambia - Says it completes fifth hole drilling in Phase One programme at Racecourse Mineral Resource on the Bushranger porphyry copper-gold exploration project located in the Lachlan Fold Belt, New South Wales, Australia. Hole BRDD-21-005 at Racecourse has been completed at approximately 876 metre depth, having encountered a visually similar chalcopyrite-pyrite-pyrrhotite mineralised interval down-plunge from that previously reported in hole BRDD-21-003.
Colin Bird, chair says: ''We are pleased to report that Hole BRDD-21-005 has, as anticipated, encountered visually similar mineralisation to that seen in hole BRDD-21-003. We are now re-directing the rig to drill the sixth hole of the programme in order to provide an intersection across the down-plunge extension of the deposit at depth. We continue to refine our model as we better understand the orientation and attitude of the porphyry system, and this will be further aided as we begin to receive split core assays, with the first batch expected shortly."
Current stock price: 7.3 pence
Year-to-date change: seven times higher
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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