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Xtract Resources PLC - Australia, Mozambique and Zambia-focused gold producer, exploration and development company - Announces an updated mineral resource estimate for the Racecourse prospect on the Bushranger Copper-Gold project located in central New South Wales in Australia. Says after the completion of the drilling programme, independent consultants Measured Group Party Ltd, updated the historic inferred mineral resource estimate to 512 metre tonnes at 0.22% CuEq, at a cut-off of 0.1% CuEq. This contains 1.1 metre tonnes of copper equivalent metal and classified as indicated and inferred in accordance with JORC.
Chair Colin Bird comments: ‘Now that the updated Racecourse mineral resource estimate has been completed, we are working on the maiden mineral resource for the Ascot prospect, which we expect will significantly increase the overall mineral inventory on the Bushranger project.’
From July 2021 until July this year, Xtract completed a Phase 2 diamond drilling programme at the Racecourse and Ascot prospects on the Bushranger project. A total of 49 drill holes were completed for 32,695 metres of drilling.
Current stock price: 2.96 pence each, down 11% on Wednesday in London
12-month change: down 43%
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