Member Info for news

XTRACT RESOURCES: RACECOURSE-BUSHRANGER, LACHLAN FOLD, NSW, AUSTRALIA.
North West of Newcrest*s Cadia Ridgeway.
"Multiple IP, Magnetic & Geochem feature indicate the potential for the project to HOST a CLUSTER of copper gold porphyry deposits SIMILAR to CADIA RIDGEWAY." - Pg 3, XTR, Apr 2020 Presentation.
https://xtractresources.com/bushranger-project/ Apr 2020 Presentation

ALKANE RESOURCES, BODA, AUSTRALIA [Lachlan Fold]- North of Newcrest*s Cadia Ridgeway 50MOZ GOLD + 8.7Mt cu copper.]
12 Nov 2020 Noosa Presentation
https://alkane.com.au/investors/presentations/

"Pg 10: Prospect potential AKIN to CADIA Valley Mine, Newcrest."
Drilling Results on Map:
404m @0.35g/t au, 0.07% cu
834m @0.24g/t au gold , 0.12 % cu copper
222m @0.27g/t au gold , 0.05% cu
18m @0.31 g/t au, 0.12 % cu
1159m @0.18g/t au, 0.12% cu

Previously announced hole [in black square]:
68m @0.35g/t
965.7m @0.21g/t

Surface project of BODA at >0.2g/t au."
BODA target IDENTIFIED BY GEOPHYSICS."

My Comment:
When the results for Xtract*s Racecourse-Bushranger comes out on 24 Dec 2020 hopefully or 27/29 Dec 2020, one has to manage expectations as to what the results might look like. Given Alkane*s CEO on 9 Nov 2020 said they think they are on to a Tier 1 at BODA, the drill results vary.

From XTR*s said presentation, some areas are marked in yellow and others orange and magenta to denote gradation, hence why like BODA, one may have to expect different intersection depths and grades.

Both XTR and Alkane said that their prospect is AKIN to Newcrest*s Cadia Ridgeway. it is not possible to extract Newcrest*s entirety of Cadia Ridgeway*s results as they will be massive. Hence, why Alkane*s BODA prospect will be of some use and insight as to what to expect.

XTR*s Bushranger is in fact in the LACHLAN FOLD TRANSFER ZONE in which it starts with North Parkes, then Newcrest*s Cadia and then XTR*s Bushranger.

On the 24 Dec 2020, the stock market will close early at 12.30 noon. Mr Colin Bird said that the contractors would ideally like to go home for Christmas, hence results will be 24 or 27/29 Dec 2020. Only the copper results will be given via XRF whilst the gold assays will have to go to the lab per rules.

News, Thur, 17 Dec 2020
XTR share price 1.45-1.5p, MKT CAP £9m.

Per Dcat80@ 12:23, Thur 17 Dec 2020
-50 bagger."
===
That would put Xtract Resources mkt cap at £450m [Currently SP 1.45p-1.55p, Mkt Cap £9m]

Given that my 2 posts from yesterday stated that the Racecourse - Bushranger prospect was found via IP, Magnetics, Geophysics etc [Ref: Toodyay, 2007 ASX RNS] one could well imagine that if XTR*s Apr 2020 Presentation is also correct and later proven, then £450m mkt cap would be less than Solg*s £600m at one stage just for Alpala with 23 MOZ gold?

From XTR*s Apr 2020 Presentation:
"Multiple IP, Magnetic & Geochemistry feature indicate the potential for the project to host a CLUSTER of copper gold porphyry deposits SIMILAR to CADIA RIDGEWAY." - Pg 3.

Newcrest*s Cadia Ridgeway is one of the world*s largest deposits at 50 MOZ GOLD & 8.7Mt Cu copper [Ref: https://www.alkane.com.au/wp-content/uploads/2020/11/Alkane-Resources-Boda-Presentation_2020.pdf

COLIN BIRD, CEO, XTR
We await further comments from Mr Bird. Looking forward to initial results from Bushranger [NW of Racecourse] with results due on 24 Dec 2020 or 27/29 Dec 2020. Assay results for gold has to be sent to the lab.

News, 17 Dec 2020 [Thur]
For links see my 2 posts from yesterday.
DYOR. IMHO.

Part 2:
ALKANE BODA
E D I S O N RESEARCH , 23 Apr 2020
" 0 0 7 S T R I K E S IT R I CH ."

"From the exploration conducted at BODA to date, we can see the mineralisation EXTENDS TO 1KM in DEPTH and the WIDTH of the mineralisation SEVERAL HUNDRED METRES. Combined with an estimate for 7 1 2 METRES FOR THE STRIKE LENGTH of the mineralisation, we can estimate the SIZE of the BODA DEPOSIT could be in the order of 738 MT at a GRADE OF 0.35% CU [0.51g/t gold equivalent] CONTAINING UP TO 8.3 MOZ GOLD and worth approximately 55c to Alkane shareholders."

https://www.edisongroup.com/publication/007-strikes-it-rich/26666/

My Comment:
Alkane*s BODA is North of Newcrest*s Cadia Ridgeway. XTR*s Bushranger is North West of Cadia-Ridgeway.

So, the above STRIKE LENGTH gives an idea of the SIZE of the deposit at a modest 0.35% Cu and drilled to 1,000m. Hence, not surprising, XTR is now drilling to 1,000m.

Alkane stated in their 2020 presentation [see my last post with link]:
"Extention porphyry mineralisation confirmed at North Moolong S I M I L A R CHARACTERISTICS to NEWCREST*S CADIA MINE."

In my last post below, XTR also stated in their presentation of Apr 2020, that BUSHRANGER ..."SIMILAR TO CADIA RIDGEWAY."

In Alkane*s latest drilling results of 9 Nov 2020, their strike length has increased further to some 1,000m+.

Colin Bird*s last interview before today, Wed, 16 Dec 2020 said that the width is 250m for Bushranger-Racecourse.

Alkane*s share price is Australian 97.5c with a MKT CAP of A$ 580.5 Million.
https://hotcopper.com.au/asx/alk/

Edison has produced a research report dated 8 Dec 2020 for the Alkane*s BODA DRILLING results of 9 Nov 2020 of which I have posted before. Their intersections range from the double digit to triple digits and grades range from 0.17% cu, 0.22% cu to a bit higher but the AVERAGE is 0.35% CU copper. In the latest report, I recall Edison saying that BODA [same place as XTR*s Bushhranger] a/c for 75c, hence the BODA resource has RE-RATED the stock price.

Industry news relevant to XTR as mineralisation is stated to be similar to Newcrest*s Cadia Ridgeway which also APPLIES to Alkane*s BODA prospect.

News, Wed, 16 Dec 2020

BUSHRANGER
Ref: "TDR.ASX 9 July 2007 - Toodyay to acquire Ord." [ASX announcement]

"Bushranger lies within the highly prospective Ordovician of the Lachlan Fold which host the North Parkes, Lake Cowal & CADIA RIDGEWAY porphyry copper and gold deposits.

Previous exploration has identified SEVERAL porphyry*s with copper, gold and silver mineralisation over a STRIKE LENGTH OF 5 K M . [See the intersections & grades]

The RACECOURSE prospect covers a SIGNIFICANT copper [and minor gold] MINERALISED ZONE OF 1 , 0 0 0 K M S T R I K E LENGTH. The tabular mineralised zone varies from 30m to 130m in width and has been I N T E R S E C T E D to a D E P T H OF 3 5 0 M."

Pg 3 is the map for Racecourse and key to max copper in drill hole."

"Bushranger has been covered by GEOPHYSICS in the form of AIRBORNE MAGNETICS & radiomagnetics, ground induced polarisation [IP] & Electromagnetics [EM].

THIS HAS SUCCESSFULLY LOCATED THE RACECOURSE PROSPECT and several others including FOOTROT & WHITESPRINGS prospects. "

" The IP anomaly is open to the North and one drillhole to the North of the IP anomaly appears to CONFIRM the CONTINUATION of the COPPER mineralisations."

"Indicated & Inferred - Racecourse 124,000 tonnes at a grade of 0.45% copper."
https://memberafracess.com/media?id=CMN&filename=20070809/00747055.pdf

My Comment:
Since then, the JORC has since increased including the Bushranger STRIKE LENGTH OF 10KM [not 5km].

Of great interest is that they drilled to only 350m then, hence why the current drill is to 1,000m.

Also, the RACECOURSE STRIKE IS 1,000 M and I will illustrate the BODA STRIKE LENGTH that has gone from some 700m+ to 1,100m as at 9 Nov 2020 and what is the EQUIVALENT IN RESOURCE.

Lastly, the above ASX ann stated clearly that the GEOPYHSICS, IP etc IDENTIFIED THE RACECOURSE prospect/deposit.

XTR APR 2020 PRESENTATION:
" M u l t i p l e IP, M a g n e t i c & Geochemistry feature indicate the potential for the project to H O S T a C L U S T E R of copper gold porphyry depositS S I M I L A R to C A D I A RIDGEWAY." [Pg 3] https://xtractresources.com/bushranger-project/

BODA [ASX Alkane] Presentation 2020
Info about Cadia Ridgeway - Newcrest [North West of XTR*s BUSHRANGER, NSW, OZ]
https://www.alkane.com.au/wp-content/uploads/2020/11/Alkane-Resources-Boda-Presentation_2020.pdf

"Cadia 5 0 M O Z gold + 8.7 Mt Cu."

How much is 50 MOZ gold? Alpala*s MRE 3 is 23 MOZ gold. So, its more than TWICE of Alpala to give a perspective.

Not surprising that Colin Bird*s interview today, Wed, 16 Dec 2020 said "BLUE SKY."

NEW COLIN BIRD INTERVIEW TODAY.
https://www.share-talk.com/colin-bird-executive-chairman-xtract-resources-plc-xtr-l-interview-4/
Wed, 16 Dec 2020. Thanks to Hufc1908 for the link below.

Summary:
-Drilling at Bushranger 70-80m down.
-Drilling80m a day or 50m.
-Contractors have to finish for Christmas or rod get stuck / collapses if left over.
--XRF results on 24 Dec 2020 as contractors want to go home for Christmas or 27-29 Dec 2020.
-Drilling 1 , 0 0 0 m e t r e s down-GOOD OLE DAYS OF SOLGOLD -the same boat.
-DRILLING RIGHT IN THE CENTRE.
-See carrot goes.
-HOW DEEP, HOW FAR & HOW WIDE.
-Gold - wait for assays.
-$9,000/t copper, 400 MT 4-5% copper [think I may have heard it wrong & its 0.4-0.5% copper?]
-BLUE SKY.
-Think C.Bird said another 1,000m down?

XTR ZAMBIA
3D - Shallow holes.
SET UP TO GO.
Other details.

PROMISES?
Shareholders saying deliver on promises Colin.

Kindly check.

News, Wed, 16 Dec 2020

Edison has just produced a new broker report on Alkane on the ASX.
https://www.edisongroup.com/wp-content/uploads/2020/12/Alkane-Resources-Boda-bodes-well.pdf ["Alkane Resources BODA bodes well."-Edison, 8 Dec 2020"]

Currently, Alkane*s share price is A98.5c, MKT CAP A$586 Million.
https://hotcopper.com.au/asx/alk/

"On 9 Nov 2020, Alkane reported the results of an additonal 11 holes at its BODA prospect at Northern Molong PORPHYRY project. Strike length DOUBLED from 500m to 1,000m and as such is likely to represent either an EXTENSION of the original system or a NEW system. Increase our estimate of the upper limit from 738Mt to 2,214Mt at AN A V E R A G E GRADE OF 0. 3 5 g/t.

Potentially, up to 67c for BODA contingent on the ultimate resource delineated there."

XTRACT BUSHRANGER APR 2020 PRESENTATION
https://xtractresources.com/bushranger-project/ [click link at bottom of page]

ALIGN RESEARCH-XTRACT RESOURCES
BUSHRANGER, New South Wales, Australia
www.alignresearch.co.uk/cpt-company/xtract-resources/ [click link at bottom of page]

My Comment:
Both Xtract Resources via said presentation and Align Research talk of BODA discovery and the interest in the Lachlan Fold, New South Wales and it being a hot investor spot.

In the Xtract Resources said presentation the map shows North Parkes & Newcrest*s Giant Mine in the fairway which is also specifically mentioned.

On ADVFN XTR, someone also commented that Kitco News covering the Xtract drill coming up at Bushrangers is not usual as they dont tend to cover smaller such co*s.

I know that Rio*s Winu is mentioned but as far as I understand Winu is not a porphyry & also it is a more shallow deposit. All the porphyries like BODA - their drills go down to 1,000m which Bushranger is now also aiming to do ie 1,000m deep by 250m wide. This is the typical depth drilled for porphyries. I do not say that Winu should not be compared if desired but the market in Australia etc will tend to be looking at BODA vs Bushranger and by extension North Parkes and Newcrest*s Cadia Ridgeway, also mentioned by Xtract in their presentation.

By the way, towards the end of the day, the market maker would not give a live quote for anything except limited to 30,000 shares to buy at 1.5p but would take any amount to sell.

News, Thur, 10 Dec 2020.
XTR share price 1.42p-1.50p. Mkt Cap £9m. Many co*s that have not got a resource or drilled yet in Australia have a mkt cap of £19m or so. Xtract is looking for an extension to the Racecourse resource deposit of which there is already a JORC.

P.S.
I have just gone to Hotcopper Alkane [ASX] to check the BODA RNS/Ann of 9 Nov 2020:

The figures I quoted was correct. I left out two results:

-1,159m @0.3g/t au EQUIVALENT

-503m @ 0.2g/t au EQUIVALENT [Au is gold]

CEO of Alkane: "We believe BODA is shaping up to be a large T I E R 1 gold copper porphyry project. 5 km."
----
XTR BUSHRANGERS, 10 km strike
Ref: XTR Presentation , Apr 2020 [Bushranger]
https://xtractresources.com/bushranger-project/ [Click at the bottom of page re:link]

----
XTR Board of Directors
Interesting to see Alistair Ford is a Non-Executive Director
https://xtractresources.com/board-of-directors-key-management/
Mr Ford of Mining Capital needs no introduction as he is often interviewed.

My Comment:
When the Bushrangers results come out hopefully on 24 Dec 2020 as said, the recent drilling results of BODA will be useful as Mr Bird believes they will be similar to other co*s in the Lachlan Fold, NSW, Australia.

News, Thur, 10 Nov 2020.

COLIN BIRD INTERVIEW, 8 Dec 2020 @SHARE-TALK
-B u s h r a n g e r s , NSW, Australia.

"We*ll see similar results to other companies."

LATEST DRILLING RESULTS FROM BODA, NSW, AUSTRALIA
https://hotcopper.com.au/asx/alk/ [Alkane, ASX]

-851m@0.26 g/t au gold EQUIVALENT
-222m @0.33 g/t au equiv.
-834m @0.38g/t au equiv.
102m @0.24 g/t au equiv.
Please check as the above are from notes.

My Comment:
What Mr Bird meant by other companies are ones in the Lachlan Fold, New South Wales, Australia. The XTR Apr 2020 Presentation mentioned North Parkes, Newcrest*s Cadia Ridgeway and Alkane*s BODA, latter of which has attracted interest in the Lachlan Fold. BODA*S discovery hole was from recall 502m.

I mentioned this as I have seen a tweet comparing grades with Ecuador?
It is common to compare with the nearby deposits as above.

These grades will be needed when the results are published hopefully on 24 Dec 2020 as mentioned by Mr Bird in the said interview.

www.xtractresources.com [Click Bushrangers and one will find the said presentation at the bottom of the page]

News, Thur, 10 Dec 2020.

Link: https://twitter.com/Share_Talk/status/1336321621880029185 Tues, 8 Dec 2020 at 2:47pm

Colin Bird talks about:
Manica - Fairbright & Guy Fawkes etc.

BUSHRANGERS:
"Started drilling weekend. 24 Dec 2020- double shifted, XRF ready proper way, not Feb/ Mar for market to find out. Employees, shareholders. Transformational project.

Share price - 4, 6 & 8 times referring to other Oz co*s. World*s biggest gold mine, Newcrest.
Glad we went to Australia.

DRILLING LONG HOLE. This hole 1,000m, 250m wide & Anglo may buy back 80% on independent assessment. Get into mineralisation. We*ll SEE SIMILAR RESULTS AS OTHER CO*S."

My Comment:
Wow, shareholders will get XRF on 24 Dec 2020 per CEO? Please listen and check.

POW 30 Nov 2020 RNS:
"2nd diamond drill hole intersected s e r p e n t i n i s e d ULTRAMAFIC rocks at 27m immediately beneath Kalahari group sediment. By 29 Nov - reached depth of 2 8 6 m and has C O N T I N O U S L Y intersected ultramafic rocks MOSTLY serpentinite after dunit and harzburgite.

Paul Johnson, CEO : Further significant progress has been achievd with the GEOLOGICAL MODEL of the FEEDER ZONE being demonstrated through the core FROM THE 1ST AND 2ND HOLE.

Geological logging of the core indicate Shear/FEEDER ZONE setting sample including from the prospective layering features will be analysed for nickel & PGM."
----
REFERENCE:
"Geophysical MODELLING of the Molopo Farm Complex in Boswana." -ASD Walker, British Geological Survey.

Pg 14: "..An alternative exploration target are the steeply, dipping, dyke-like ULTRAMAFIC & Mafic BODIES parallel to major shear interpreted as SOLIDIFIED FEEDER ZONES. A/c to models developed for the genesis of magnetic Ni Cu + PGE SULPHIDE DEPOSITS in V O I S E Y B A Y, Labrador at N O R I L S K in Russia & elsewhere, the FEEDER conduit is regarded as particularly favourable for MINERALISATION.

REF:
"Nickel has typical concentrations of 1-450mg/kg in most natural soils. However, SERPENTINE SOILS developed on ULTRAMAFIC ROCKS naturally contain HIGH NI CONCENTRATIONS in the range of 0.1%-3% Ni. -Brookes, 1987, Kabata-Pendias & Pendias 1992."

My Comment:
The two references are insightful relating to the POW RNS of 30 Nov 2020. POW*s geological model is explained in the said RNS. British Geological Survey para as above on Molopo Farms Complex explains where to look.

Share price 2.4p, Mk Cap £20.83m.

News, Tues, 8 Dec 2020.

INTEREST IN BUSHRANGER?
"Thanks, another really interesting one is XTR, drilling now in Aus at Bushranger. Its already a discovery, NEXT DOOR to Newcrest*s Giant, the CADIA RIDGEWAY mine, having close to 50MOZ gold and 9Mt copper, ONE OF THE LARGEST IN THE WORLD. Could get interesting."
https://twitter.com/StockIn58579224/status/1336241596497596416
Tues, 8 Dec 2020
-----
FROM XTR*S PRESENTATION APR 2020:

"Page 3: Multiple IP, MAGNETIC & GEOCHEMICAL feature indicate the p o t e n t i a l for the project to HOST a CLUSTER of copper gold porphyry deposits S I M I L A R to CADIA RIDGEWAY."
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

My Comment:
The tweet was not posted by me. Its a brief summary of the interest in Bushranger, Lachlan Fold, NSW, Australia especially given the recent BODA Discovery in this part of the world.

https://www.kitco.com/news/2020-12-02/xtract-gets-approvals-for-New-South-Wales-project.html
Kitco News, 2 Dec 2020.

RACECOURSE - BUSHRANGER [NSW,OZ]

"Executive Chairman Colin Bird said the program is designed to investigate the trends of the higher gold mineralisation within the copper-gold deposit. The Phase One drilling program on the Racecourse Mineral Resource will investigate the potential North Western e x t e n s i o n of the exisiting Mineral Resource and also investigate the z o n a t i o n of gold mineralisation within the deposit."
-------
ALIGN RESEARCH - XTRACT RESOURCES
www.alignresearch.co.uk/cpt-company/xtract-resources/

BUSHRANGER: "HOT LACHLAN FOLD BELT"-
"This area in New South Wales is Australia*s World Class Copper-Gold Province and Elephant Country. Here, Xtract has just acquired an Open-Ended JORC resource of 300,000t of contained copper in quite a c o u p . ASX listed-explorers with interests here have recently SEEN BIG RE-RATINGS."

---
My Comment:
It is interesting that Kitco News has already picked up the Bushranger story and quoted C.Bird.
So, one presumes that they spoke to him? As said, the Lachlan Fold Belt is one in which many are interested in, as in Australia and the wider mining circle.

Kitco News only stated at the end that Xtract has other projects in Momz. and Zambia per the one sentence. So, Kitco News are also interested in XTR*s drilling program.

Align also talked about Alkane*s BODA discovery in the detailed note. [Click link at the bottom of page]. It is due to the BODA further driliing results that has caused great interest in the Lachlan Fold.

News, Sun 6 Dec 2020
XTR share price 1.23p with a Mkt Cap of £7.6m

XTR: IF AUSTRALIAN IPO
Stocky: "$15-30m is a typical IPO value estimate for a co initially listing on the stock exchange with a project like Bushranger, not the value of a buyout." 12:57, Fri, 4 Dec 2020. This figure is obtained from the XTR Presentation of Apr 2020 [link given earlier in this thread]. A$30million equals to £16.6m [FX 1.88]. Or take A$20m = £11m. Xtract Resources Mkt Cap is £7.76 million currently at 1.20p-1.30p [Sell-Buy].
So, JUST BUSHRANGER*s JORC currently will command between £11m - £16.6m if XTR*s Racecourse Mineral Resource were to IPO in Australia per XTR*s said presentation. So, that*s nearly MORE THAN TWICE XTR*s MKT CAP.

RACECOURSE-BUSHRANGER
This deposit and its geology has been sitting there for a long time, not just years or hundreds of years. That cannot change & the DRILL will reveal what*s there at the anomaly/ies. So, it will have nothing to do with any person in charge. Alkane*s BODA discovery has brought a lot of attention to the Lachlan Fold, NSW, Oz. Bushrangers is essentially a COPPER project with gold as credit and copper prices are UP a lot and needed for electrification.

TIER 1 JURISDICTION
Australia is a Tier 1 jurisdiction and Lachlan Fold is one of Australia*s world class provinces.
Per the presentation: "Region of HOT INVESTOR interest." Pg 2, XTR Pres, Apr 2020.

ALKANE*S BODA DISCOVERY - Lachlan Fold, NSW, Oz
"At BUSHRANGER, Cu-Au INTERSECTIONS, S I M I L A R in g r a d e & thickness to Alkane*s BODA Discovery [502m @0.6% Cu Eq] exist and require follow-up drilling." Pg 3, XTR Pres. Apr 2020.

TARGET SIZE:
"Recent drilling more than DOUBLED the Racecourse Mineral Resource, but it remains OPEN down dip and down plunge, suggesting the resource WILL INCREASE SUBSTANTIALLY IN SIZE [target is 250-400Mt] with MORE DRILLING." Pg 3 of said presentation XTR, Apr 2020.

UPSIDE-BUSHRANGERS
"Multiple IP, Magnetic & geochemical features indicate for the potential for the project to HOST a C L U S T E R of copper-gold porphyry deposits, S I M I L A R TO C A D I A-RIDGEWAY." Pg 3, XTR Pres, Apr 2020.

MAP- Lachlan Fold, NSW
Pg 4: "LACHLAN T R A N S F E R ZONE: Start at the top with NORTH PARKES 597Mt @0.58% Cu & 0.2g/t au." Then, comes NEWCREST*S CADIA RIDGEWAY @ 3. 5 Billion Tonnes @0.26 % cu copper and 0.4g/t au gold. Then, comes XTR*S BUSHRANGERS in the fairway.

Alkane*s BODA is very much North of Cadia-Ridgeway.

BUSHRANGER STRIKE LENGTH
Pg 6: " over a STRIKE LENGTH of over 10 KILOMETER."
[I had earlier posted Alkane*s Boda latest assay results and in their RNS, their strike length is 5km. Please check my earlier post today].

COPPER GRADES:
"Pg 7: COPPER grades remain 0.4-0.5% cu over these much larger intervals, with similar copper grades to other Lachlan Fold Belt MAJOR Cu-Au porphyries in region [CADIA & NORTH PARKES].
[What I said about the fairway of the Lachlan Transfer Zone].

"POSSIBLE ADDITIONAL PORPHYRY BODIES"
Pg8: "IP/MT comple

From Xtract*s Apr 2020 Presentation:
"Pg 13: Market metrics for ASX listed copper co*s suggest the RACECOURSE Mineral Resource upon will immediately drive a market capitalisation of $15-$30 million."

"The Bushranger Project has the potential to define a field of mineralised copper porphyry with the OBJECTIVE of defining a NORTH PARKES size Mineral Resource 250MT - 400MT."

"The Buy Back Option held by ANGLO represents an excellent mechanism for capturing VALUE upon exploration success and returning that value to shareholders."

"Pg 6 : STRIKE LENGTH 10KM."

"Pg 12: ANGO BUY-BACK OPTION-If a deposit of 2M tons of contained Cu Eq [ie 4 5 0 Mt @0.45 % Cu Eq] is ultimately identified. AA may buy back 80% of the deposit at FAIR MKT VALUE determined by an independent expert a/c with the JORC & Valmin Code." Etc.

Currently, "Racecourse project has a JORC of 71Mt 2012 at 0.44% Cu & 0.06g/t au, cut-off 0.3% cu." Pg 3: "Was 27.6 Mt @ 0.5% cu & 0.04g/t au at 0.3% cu cut-off [JORC 2004"]

"Pg 4: GODOPHIN Resources & KAISER REEF both RAISED $4.5m each to complete IPO*s based on Lachlan Fold Belt Assets and follow on from Alkane*s newBODA discovery."

My Comment:
The $15-30 million referred to by Xtract as above refers to a situation IF Bushrangers were to be IPO*ed in Australia based on the 71Mt Racecourse JORC as above.

The context appears clear as Xtract talked about Goldophin& Kaiser*s IPO at $4.5 million each given their assets.

So, this current drilling to extend the mineralisation as above stated as an objective is not yet taken into consideration as drilling results are not known until drilling has started and as assays come in.

News, Fri, 4 Dec 2020
That*s my understanding from the said Presentation from XTR of Apr 2020
https://xtractresources.com/wp-content/uploads/Bushranger-Summary-Presentation_April-2020.pdf

Today is Fri, 4 Dec 2020 and Xtract could have started drilling at Bushrangers, New South Wales, Australia [Lachlan Fold] per their RNS on 2 Dec 2020.

Colin Bird, CEO of Xtract in his interview said that they are drilling d e e p e r akin to the good ole days of Solg per his words [kindly check].

Meanwhile, BODA discovery in the Lachlan Fold has had news via an announcement in Australia on 9 Nov 2020 entitled: " Significant expansion to mineralisation at BODA."
https://hotcopper.com.au/threads/ann-significant-expansion-to-mineralisation-at-boda.5743343/

Some of the holes with results: " KSD 010 - 851m @0.26g/t au Equivalent from 293m.
KSD 011 - 222m @0.33g/t au Equivalent.
KSD 012 -1,159m @0.3g/ au Equivalent.
KSD 013 - 834m @0.38g/t au Equivalent."

"CEO of BODA discovery: We believe BODA is shaping up to be a large Tier 1 gold copper porphyry project. 5 km in length."

My Comment:
Xtract*s Presentation on Bushrangers shows on the map of Lachland Fold that the BODA discovery was 502m @ 0.2% Cu copper & 0.46g/t au gold.

So, that is INDUSTRY NEWS of the Lachlan Fold, New South Wales.

Link: Xtract Presentation April 2020 showing the BODA discovery
https://xtractresources.com/bushranger-project/ [Click link at the bottom of page].

Click reply on this thread and one can see the details of Xtract*s JORC resource at Bushrangers. However, at this time, I have not yet located the length of the Bushranger strike.

From the Xtract map shown, Newcrest*s Cadia Ridgeway is more in the fairway [40moz]
and examples like BODA [North wards] have drilled deeper, hence why the XTR RNS of 2 Dec 2020 said they were looking for extensions to Racecourse, Bushrangers, NSW, Australia.

The drill results would be of interest and here*s hoping? One cant tell until the hole/s are drilled further down ie deeper.

DYOR.

News, Fri, 4 Dec 2020.

I saw this tweet by Share-Talk, 7 hrs ago, Wed 2 Dec 2020:

"XTR Manica project in Mozambique. This centers around the Guy Fawkes concession being advanced by a new Chinese group with the possibility of production by end Dec 2020. While expectations are that in Australia drilling can also start soon."

https://twitter.com/Share_Talk/status/1334045225019465730

My Comment:
I am here for the Bushranger project [Xtract] and I am not as nuanced in the other projects. However, posting in case anyone is interested and can ask Share_Talk more about their tweet.

News, Wed, 2 Dec 2020.

Xtract Bushrangers, NSW, Australia - Phase 1 drilling programme RNS today, Wed 2 Dec 2020.
"Drilling is scheduled to start 1st week of Dec, 2020."

"Testing the potential extensions to the North West of the Racecourse Mineral Resource which had in 2018 as 71MT @0.44% Cu & 0.064g/t au at a 0.3% cu cut-off and has been classified as Inferred in accordance with JORC [2012]."

"Phase 1 will follow up drill intersections such as 159m @0.4% cu & 0.2g/t au..& 169m @0.4%cu
and 0.1g/t au."

["Located in the Lachlan Fold Belt, New South Wales, Australia*s only world class copper-gold province."]

News, Wed, 2 Nov 2020.

Ref: From "AquaeSulis01, Mon , 30 Nov 2020 at 19:19 with thanks. Click the reply button to view his post on Molopo Farms Complex and the geology.

Power Metal Resources: M o l o p o F a r m s Complex , Boswana [JV]
"Geophysical Modelling of the Molopo Farms Complext in Southern Boswana.."-ASD Walker, British Geological Soc. [Type this title into the search engine to read]

Pg 14:
"..an alternative exploration target are the steeply dipping, dyke-like ULTRAMAFIC & mafic bodies parallel to major shear interpreted as Solidified FEEDER zones. According to models developed for the genesis of magmatic Ni Cu + PGE Sulphide deposits in Voisey Bay, Labrador, at Norilsk in Russia and elsewhere, the FEEDER conduit is regarded as a particularly favourite site for mineralisation."
[Refer to the POW RNS of 30 Nov 2020: "Boswana Molopo Farms Complex Drilling Update"]
[This is just to illustrate what the terms means given that there is past historical data on Molopo Farms Complex and where POW are currently drilling.]
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Geology Charlie [Geo from SI Capital tweeted with charts] on 30 Nov 2020:
"POW Why are layered intrusions so interesting? episodic events in ULTRAMAFIC settings allow for geochemical settings to form, creating Ni-Cu-PGE forming events & is observed is some of the world*s largest magmatic deposits." https://twitter.com/GeologyCharlie/status/1333379047074754561
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To add to AquaeSulis01 above post [Click reply and his post is in the thread ].
"Nickel has typical concentrations of 1-450 mg/kg in most natural soils. However, SERPENTINE SOILS developed on ULTRAMAFIC ROCKS naturally contain high concentrations usually in the range of 0.1%-3% Ni. - Brookes, 1987, Kabata-Pendias & Pendias 1992. To read and check, kindly call up this title.
Acquae mentioned Serpertine in his post which is also in the POW 30 Nov 2020 RNS.
The POW RNS of 30.11.20 also mentioned Ultramafic rocks.

"1st hole produced 167m of ultramafic rocks.
2nd hole already produced 260m ultramafic rocks-potential to host nickel & PGM*s.
Targeting massive nickel sulphide PGM mineralisation."-Brand Comm, 30 Nov 2020
https://twitter.com/BrandMultiComms/status/133337898607279185 30.11.2020
[Please also check the POW 30.11.20 RNS on Molopo Farms Drilling Update. ASSAYS awaited.]

News, Wed 2 Dec 2020.
DYOR.

The proposed date for Rincorn IPO is on Thur, 10 Dec 2020 per Hotcopper RCR [Rincorn]
Link: https://hotcopper.com.au/asx/rcr [The info on the IPO proposed date is at the top]
Australian ticker for Rincorn RCR

Rincorn is an investee co of Gunsynd.

It is exploring in Hasties & Westin*s, Western Australia which is near or nearer to Newcrest*s Telfer and Greatland Gold*s Havieron.

All the info - see earlier posts.

News - Wed, 2 Dec 2020

Hellooooo. Anyone home? Think I recall now that it may be royalties or such like. A happy outcome for the Sonora Lithium project in Mexico which the Chinese partner has described as we believe its a world-class lithium project.

Fri, 13 Nov 2020.