Bushranger Copper/ Gold Project Drilling Programme – Further Update
The Board of Xtract Resources Plc (“Xtract” or the “Company”) is pleased to provide further news 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.
· Drilling of the first of three holes on the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, has now progressed to a depth of 975m in drill hole BRDD-20-001
· Copper mineralisation in the hole was first noted at a depth of 110m and the hole has been mineralised continuously to the current depth of 975m, 160m past the original planned finishing depth
· As the hole continues to encounter strong visible copper mineralisation, it will be extended until the zone is drilled through
· The copper mineralisation is predominantly disseminated chalcopyrite (copper sulphides) within a strongly altered quartz-feldspar porphyry intrusive body
· The Phase One drilling programme will comprise three diamond drill holes for a total of 2,290m, with the objective of extending the copper-gold mineralisation beyond the current boundary of the Mineral Resource of 71Mt @ 0.44% Cu & 0.064g/t Au, at a 0.3% cut-off, which has been classified as Inferred in accordance with JORC (2012)
Colin Bird, Executive Chairman said: “The hole continues to be strongly mineralised well past the planned hole depth, which is very encouraging for the scale of the porphyry system at Racecourse. We will continue to drill until we bottom out of the zone.”
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