Xtract Resources PLC - miner with projects in Mozambique and Zambia - Updates following completion of third hole of Phase One diamond drilling programme at Racecourse Mineral Resource on Bushranger porphyry copper-gold exploration project in Lachlan Fold Belt, New South Wales, Australia. Says angled hole BRDD-21-003, the third hole of the planned drilling programme, was completed at 975.5 metres, having drilled through the altered and mineralised porphyry system from 240 metres to the base of hole.
Chalcopyrite copper mineralisation was first observed at 119 metres and became more persistent from 240 metres, with the best mineralised interval coinciding with the central alteration zone over a 227 metres length from 598 metres to 825 metres.
Colin Bird, chair 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."
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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