Xtract Resources PLC - copper-gold projects in Australia, Mozambique and Zambia - Says third drill hole at Bushranger copper-gold exploration project returns wide intersection of 448 metres from a depth of 272 metres.
Says results from drill hole BRDD-21-009 indicate that the mineralisation intersected in hole BRDD-21-007 increases in width at depth, while the higher-grade intervals correlate well from hole BRDD-21-007 to hole BRDD-21-009, indicating good continuity of the higher-grade copper zones.
Executive Chair Colin Bird says: "The results from hole nine demonstrate a wide intercept of mineralisation, within which are very favourable sub-runs, all of which fall within the requirements for the development of a porphyry copper mine. Interestingly, hole nine also intercepted a gold-rich zone. We are pleased with the consistency of the results we are receiving, all which support the prognosis of a large open pit operation."
Current stock price: 5.67 pence
Year-to-date change: one and half times higher
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Xtract (XTR)