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Xtract Resources first drill results on Bushranger Project show mineralisation forms 'very substantial' copper-gold mineral system
StockMarketWire.com
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Mining group Xtract Resources has reported receiving the first drill assay results on the Bushranger copper-gold exploration project, which 'confirm mineralisation for almost a kilometre down-plunge'.
The group said that the assay results from the first drill hole of the phase one drilling programme at the Racecourse Mineral Resource deposit on the Bushranger Project returned an overall intersection of 920m at 0.3% Cu, 0.02g/t Au and 1.45g/t Ag (0.33% CuEq) from 110m.
The assay results confirm that the mineralisation at Racecourse forms a 'very substantial' copper-gold mineral system and that there is significant potential to expand the Mineral Resource.
Executive chairman Colin Bird said: 'The assay results from the first hole at the Racecourse deposit are exciting in that they confirm mineralisation for almost a kilometre down-plunge. The overall grade of 0.33% CuEq is very pleasing and I am particularly encouraged by the grade uniformity over the entire intercept.'
He added: 'Results from the remaining holes will give us more information about the thickness and across-strike continuity of the mineralisation.
'The assay results from the initial hole compare very favourably with results reported from Alkane's Boda project and the bias towards copper at Racecourse is welcome, as it is a metal forecast to be in strong demand for years to come.'
At 9:48am: (LON:XTR) Xtract Resources Plc share price was 0p at 1.15p
Story provided by StockMarketWire.com
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