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Xtract Resources PLC - miner with projects in Mozambique and Zambia - Completes drilling of hole BRDD-21-002 at a depth of 899.4 metres as copper mineralisation diminishes. BRDD-21-002 is the second hole in its phase one diamond drilling programme at the Racecourse mineral resource on the Bushranger copper-gold exploration project. Notes visible copper mineralisation extends over a significantly greater width than previously thought, resulting in the hole running about 150 metres beyond its planned depth.
Says it will now log drill core and assess copper grades as well as set up the rig to drill the third hole of the programme, with the aim of testing the width and grade of the mineralisation higher in the deposit.
"We are encouraged by the results of the first two holes which have exceeded our expectations with regard to the extent of the mineralised envelope at the Racecourse deposit. The next hole in the programme will be drilled higher in the system to assist in defining the third dimension to the deposit which will help us to design and target future drilling," says Chair Colin Bird.
Current stock price: 5.90 pence; up 4.4% on Friday
Year-to-date change: more than trebled from 1.78p
By Ife Taiwo; ifetaiwo@alliancenews.com
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