RNS14 Sep 2021 08:57
14 September 2021
Xtract Resources Plc
("Xtract" or the "Company")
Eureka Copper Project - Phase 2 further drilling update
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide an update on the Phase 2 drilling programme at the Eureka copper-gold deposit on small scale mining licence number 22134-HQ-SML ("Eureka Licence") located in the Central part of The Republic of Zambia ("Eureka Project").
Highlights
· Further assaying from the Phase 2 drilling programme at Eureka confirms continuity of the copper deposit over approximately 300m strike extent - open to the west-northwest
· Adjusted assay intervals in angled hole EX-022 average 4.82% Cu over 27.0m (circa 18m true width), including two 9m sub-intervals assaying 7.71% and 6.33% Cu
· Other intervals of note include 17m @ 1.90% Cu in hole EX-010 at the south-eastern end of the deposit and 23m @ 1.43% Cu in vertical hole EX-020 north-west of the old open pit
· Samples from the final holes of the Phase 2 programme, along with sample extensions in some of the earlier holes are currently with the laboratory for assay
· The near-vertical mineral zone occurs directly beneath approximately 9m of overburden/saprolite at the open pit, suggesting just shallow pre-stripping will be required
· The deposit remains open and untested further to the west-northwest, with additional drilling being planned
· The Company is currently accessing the deposit in the pit to obtain bulk samples for amenability testing in nearby processing facilities
Colin Bird, Executive Chairman said: "Results to date from the drilling programme have been successful in extending the deposit strike to about 300m, with potential for expansion of the planned open pit. We are pleased to note that the deposit appears to occur as a single zone and that the previously postulated deposit split appears not to be the case. This represents a much better outcome for mine planning purposes. We look forward to receiving and reporting on the final batch of assay results shortly."
Phase 2 Diamond Drilling Programme
The Phase 2 diamond drilling programme was designed to both test the deposit strike extension and to provide additional information on deposit width and grade to support open pit mine planning.
21 shallow holes were drilled, designated EX-08 to EX-028 and totalling 1,584.6m, mostly angled to the northeast to cross the near-vertical mineralised zone. Based on visual core inspection and initial hand-held XRF analytical results, up to 17 of the holes appear to have intersected mineralisation of interest. Assays of half core have been received for all or part of 11 of these holes from the ISO-accredited SGS analytical laboratory in Kalulushi, Zambia. Samples from the remaining holes are currently with the laboratory. Cu assay results for EX-018 and EX-019 were reported previously, while those for EX-022 have been updated following receipt of additional as
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