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Xtract Resources says drilling confirms Eureka deposit potential
StockMarketWire.com
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Mining group Xtract Resources said drilling had confirmed a strike extension at the Eureka copper-gold deposit in Zambia.
A phase-two drilling programme confirmed strike extension of the Eureka mineralised zone to the north-west, now at 300 metres and still open, the company said.
Three holes assayed so far from a pit development reconnaissance programme had return the best copper grades to date beneath the current open pit, averaging 4.42% copper over 27 metres.
'From drilling it would appear that the previously postulated bifurcation of the deposit towards the north-west does not exist and that a single continuous deposit is present,' executive chairman Colin Bird said.
'We are also pleased with the extent of the copper oxides which have the potential to produce much sought-after material for the local market.'
'The very high results in EX-022 give encouragement to test that area at depth, as the mineralisation could be indicative of an IOCG 'blow'.'
'We plan to remobilise the drill rig to further test deposit extensions while planning a larger pit than had previously been envisaged.'
At 8:49am: (LON:XTR) Xtract Resources Plc share price was 0p at 1.15p
Story provided by StockMarketWire.com
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