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Thanks Iceberg , that is a very useful map. And of course that drill is heading north northwest direction which I'm thinking extends the reach of the porphyry as previously envisaged?

thereby potentially giving a significant boost to the dimensions of an already large deposit.
If this Drill 5 was 80m into mineralisation on monday morning and is still turning now saturday morning at say 70m per 24 hours then thats's 430m mineralisation so far, estimate.

and many thanks Cygnus for the data breakdown, I had to significantly widen my spreadsheet columns when putting in slightly better assumptions :))

This board is starting to attract the wrong sort, it’s always that time of the month for some people

still trying to fathom the market maker conspiracy JDAU, excess new shares arrived on the market, share price went down.
Always talk on here of share price being "walked down" to fill a big order, actually it was the opposite

ok jez and how did they manipulate the market to the disadvantage of the PI? I'm interested

If most of the warrants were dumped on the market today (ie first available opportunity, which would make sense for a very nice profit) then it would undoubtedly have hit the price today, but v little difference longer term.

the market maker conspiracy theories are well overdone, here and on other boards
people just want to have someone to blame when the price goes against them

I have been able to buy in large and small quanities on IG all day including 90 seconds ago

It looks rough out there all round today, good day not to release good news,

welcome guys and gals. Tells most of us on this board what we already know: XTR is a tremendous value propsect that could and verly likely will go multiples from here.

This article summarises and spreads that story very widely, or certainly to the right places.

Assays are expected in the coming weeks.

The holes are being drilled at the Racecourse deposit, which has an existing inferred resource of 71 million tonnes at 0.44% copper and 0.064 grams per tonne gold, at a 0.3% copper cut-off.

Xtract picked up Bushranger in mid-2020 via the £1.25 million acquisition of Australian public unlisted company ProspectOre.

ProspectOre shareholder, well-known Australian geologist Jeremy Read, joined the Xtract board in November as part of the deal.

The project once belonged to ASX-listed junior Lachlan Star, which completed a scoping study in 2011, but farmed the project out to Anglo American in 2014 to focus on gold in Chile.

ProspectOre acquired the project from Anglo in late 2018, but Anglo retains a buy-back option, giving it the right to acquire 80% of the project at fair market value if a resource of more than 2Mt of contained copper is identified.

Xstract shares started the year at 1.65p and have risen as high as 8.4p on updates from Bushranger. The company has a market capitalisation of £58.5 million.

Xtract executive chairman Colin Bird told the ShareTalk podcast this week the company was undervalued, based on Alkane Resources' market capitalisation of more than A$400 million.

Alkane discovered the nearby Boda deposit in 2019, which Xtract says has comparable grades and thicknesses to Bushranger.

Bird said there could be multiple porphyry systems at Bushranger.

"We've passed is it big or isn't it big," he said.

"It's big."

Bird said Bushranger was poised to join the race to be a leading copper deposit globally.

"I've got a good feeling in my guts that Bushranger is going to be the frontrunner in that race," he said.

"This is not just another discovery - this is the Melbourne Cup and we've got a frontrunner."

The company started drilling in mid-December and after a short break for Christmas, Xtract announced on January 12 that "significant copper mineralisation" had been intersected in the first hole from a depth of 110m to 607m.

The copper mineralisation is predominantly disseminated chalcopyrite (copper sulphides) within a strongly altered quartz-feldspar porphyry intrusive body.

About a week later, Xtract announced the hole had been completed to a depth of 1050m, 235m past the original planned depth, and was continuously mineralised.

Xtract said the core exhibited vein-hosted and disseminated chalcopyrite, pyrrhotite and pyrite mineralisation, and locally quartz-chalcopyrite-pyrrhotite veins, occurring within a volcanic rock package equivalent to that hosting Newcrest Mining's Cadia deposits, which sit about 80km to the northwest of Bushranger.

Preliminary XRF handheld assays for the first hole returned 287m at 0.3% copper from 474m, using a 0.2% copper cut-off, including 30m at 0.4% copper, 23m at 0.5% copper and 39m at 0.5% copper from, using a 0.3% copper cut-off.

The second hole was completed in early February to 899.4m, about 150m deeper than planned due to the presence of visible mineralisation.

The third and planned final hole of the planned program was completed at 975.5m, having drilled through the altered and mineralised porphyry system from 240m to the base of hole.

Chalcopyrite copper mineralisation was first observed at 119m and became more persistent from 240m, with the best mineralised interval coinciding with the central alteration zone over a 227m length from 598m to 825m.

A fourth hole was collared from the same pad as drill three, but following further review of the orientation, it was concluded that the down-plunge continuation of the deposit would be more effectively tested from a new site and was suspended at 117.6m.

Hole five, 120m down-plunge of hole three, started over the weekend and at 126.7m depth, had entered the outer alteration halo of the deposit earlier than expected at 45m, with pyrite/pyrrhotite mineralisation and traces of chalcopyrite.

no RNS so far today means that we are at c 300m of mineralisation at average drilling of 70m per day - in Hole 5.

back to the old "no news is good news " mantra with this one

although somewhat later than expected, if the assays take a few more days no problem

OK good tips there, I will post my "poorfree" after Hole 5 and get Iceberg to mark my efforts out of 10 and then maybe submit for the Turner Prize.

Very psyched for the assays now.

Plus every day that passes , Hole 5 goes further in a direction that extends the whole reach of the system in the other direction?
126-45+70+70 of mineralsation as per this afternoon as an estimate? so guess of 220 metres of mineralisation so far

I'm only modelling actual drills so far and have just put in an order for more plastacine from Amazon

Also tried to post earlier that you really wouldn't want to be out of this overnight.

An afternoon release of Assay results in Sydney say 4pm would equal 5am in the UK and an "early Bird" 7am RNS release .
good luck everyone , I'm sure theassays are very close IMHO

Also, in terms of the model of the porphry, do what I did,

order a nice big lump of plastacine online, get some nice long straws where you can mark mineralisation starts and finish , pop them into the clay one by one starting with Hole 1 and lump on extra bits as you need (quite a bit recently)and, a bit like Close Encounters of the Third Kind the porphyry takes shape.

Then find your way over to Bushranger

it might well have a late rise: given the time difference you never know when an RNS concerning assay results might land, especially given the time difference.

4pm Sydney time is 5am London time so anything announced over there tomorrow afternoon would be a 7am uk RNS

classic case of not wanting to be out of this overnight IMHO

this is without the assays , and rightly so just from the size established to date
even a lower than average for the area cu/au grade its still v v commercial just due to the size

Also having mineralisation close to the surface must make it more commercial? copper from 45 metres!!!
making the 3% fair valuation look pretty low

that's one hell of an interview

a cube 1000 x 1000 x 1000
very big
could be bigger
wow as the optimistic thought