Bushranger Copper/ Gold Project Drilling Programme – Further Update
The Board of Xtract Resources Plc (“Xtract” or the “Company”) provide a further update on the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt (“LFB”), New South Wales, Australia.
Phase One Drilling Programme Plan at the Racecourse Mineral Resource – Bushranger Project
The Xtract Phase One drilling programme at the Racecourse Mineral Resource has been designed to follow up on the very encouraging results obtained by Anglo American Exploration Australia Pty Ltd (“Anglo”) in 2014 and 2015 (refer to RNS released on 01 June 2020). The objective of the programme is to continue to extend the highest-grade copper-gold intersections to the north-west, beyond the limits of previous drilling and to investigate the copper-gold zonation within the Racecourse Mineral Resource. The initial phase of drilling will comprise three Priority 1 drill holes for 2,290m. Providing encouraging results are received from the Priority 1 drill holes, a further six Priority 2 holes will potentially be drilled for an additional 3,995m. At 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, the Racecourse Mineral Resource within the Bushranger Project, is one of the largest undeveloped porphyry copper-gold deposits in the Lachlan Fold Belt.
Further information is available from the Company’s website which details the company’s project portfolio as well as a copy of this announcement: www.xtractresources.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. The person who arranged for the release of this announcement on behalf of the Company was Colin Bird, Director.
