Xtract Resources Plc (XTR.L) Completion of Third Hole of Drilling Programme - Interview

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide information on completion of the third hole of the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger porphyry copper-gold exploration project located in the Lachlan Fold Belt ("LFB"), New South Wales, Australia.

Highlights

· Angled hole BRDD-21-003, the third hole of the planned drilling programme, was completed at 975.5m, having drilled through the altered and mineralised porphyry system from 240m to the base of hole.

· Chalcopyrite copper mineralisation was first observed at 119m and became more persistent from 240m, with the best mineralised interval coinciding with the central alteration zone over a 227m length from 598m to 825m.

· The core will now be logged, split and sampled in preparation for laboratory analysis for copper, gold and other elements.

· The drill rig will be moved to drill the fourth hole of the programme to test the deposit further to the west and down-plunge.

Colin Bird, Executive Chairman said: "We are very pleased with the most recent hole and are gaining considerable insight into the geometry and extent of the mineralised system at the Racecourse deposit. The copper-bearing interval in this hole was considerably longer than anticipated, suggesting the possibility that the deposit may be significantly larger than first thought. We await assay results and, in the meantime, the drill rig will be moved to drill the fourth hole of the programme to the west and down-plunge of the previous holes."

Drilling Summary

Hole BRDD-21-003, the third hole of the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, was drilled to test the width and grade of the porphyry mineralisation higher in the deposit than the previous two holes in order to assist in defining the 3-dimensional shape and orientation of the porphyry system. The hole was drilled at -60 degrees towards the north-northwest to a finishing depth of 975.5m.

https://www.share-talk.com/completion-of-third-hole-of-drilling-programme-interview/