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Xtract Recommences Drilling At Bushranger Project In Australia

Tue, 12th Jan 2021 11:12

(Alliance News) - Xtract Resources PLC on Tuesday announced that drilling at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt, Australia recommenced last Thursday following a short break over the Christmas period.

The miner with projects in Mozambique and Zambia said drilling of the first of three holes on the phase one programme of the Bushranger project has progressed to a depth of 607 metres in drill hole BRDD-20-001. Significant copper mineralisation began in the drill hole at a depth of 110 metres and continues to the 607 metres drill hole depth, it added.

Shares in Xtract were up 13% at 2.55 pence in London on Tuesday.

"We now have nearly 500 metres of mineralisation in this first drill hole, which is very encouraging," said Executive Chair Colin Bird.

"The mineralisation is fine grained chalcopyrite within a quartz feldspar porphyry intrusive body, which is characteristic of mineralised porphyry bodies within the Lachlan Fold Belt in New South Wales. If the mineralisation continues to the planned total hole depth of 815 metres, we will just continue to drill until we drill through all the mineralisation," he added.

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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16 Feb 2024 14:33

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IN BRIEF: Xtract gets shareholder nod to sell Manica interests

Xtract Resources PLC - London-based diversified metals and minerals producer - Says shareholders have approved the resolution, proposed at a general meeting earlier on Tuesday, to dispose of its entire interest in the Manica gold project in western Mozambique. Company expects disposal to occur shortly. Says that following completion of the sale, it will remain an operating minerals company under AIM rules. It plans to focus on its interests in the Bushranger copper/gold project in New South Wales, Australia, and in the Eureka and Kalengwa early-stage copper exploration projects in northeast Zambia.

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UK shareholder meetings calendar - next 7 days

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Xtract Resources testing shows potential of Bushranger project

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Xtract Resources testing shows potential of Bushranger project

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Xtract Resources shares jump on inking of Zambian licences partnership

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Xtract Resources inks deal on new copper JV in Zambia

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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