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Xtract Resources PLC - London-based miner - Commences induced polarisation survey at Bushranger copper-gold project located in the Lachlan Fold Belt of New South Wales, Australia, following initial positive results of the phase one drilling programme. Says the survey will track extensions of the Racecourse deposit potentially beyond 1,000 metres depth down plunge and along strike.
"Results appear to show a large porphyry system, warranting planning for a phase two drilling programme. In order to identify extensions to the deposit in several directions, we intend to carry out a deep-penetrating IP survey - the bedrock resistivity at Racecourse allows significant depth penetration to enable tracking of anomalies potentially beyond 1,000 metres depth. We now have the benefit of previous drilling to guide us in interpreting prospectivity," says Executive Chair Colin Bird.
Current stock price: 5.89 pence, up 5.1% on Wednesday
Year-to-date change: up substantially from 1.78p on December 31
By Zoe Wickens; zoewickens@alliancenews.com
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