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(XTR) Xtract Resources Share Chat

Discussion in 'General Share Chat (XTR)' started by Steamy, Jul 22, 2015.

  1. Groucho

    Groucho Member

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    12 August 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Bushranger Drilling Continuation and Licence Renewal Grant


    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to report on the continuing progress of the Phase Two diamond drilling programme with the completion of the third and fourth holes at the Bushranger copper-gold porphyry exploration project in New South Wales, Australia, as well as positive news on the renewal of the Racecourse exploration licence.


    Highlights

    · The third and fourth angled holes of the Phase Two programme have been completed, confirming the occurrence of wide zones of copper mineralisation on both the western and eastern flanks of the Racecourse porphyry intrusion

    · Hole BRDD-21-009 passed through the main (western) zone with visible chalcopyrite copper mineralisation over a 236.2m downhole interval from 171.5m to 407.7m and a further 132.9m interval from 587.0m to 719.9m in the eastern zone

    · Hole BRDD-21-010 intersected chalcopyrite mineralisation over a 356m downhole interval from 159m to 515m (main western zone) and also over a 168m interval from 600m to 768m (eastern zone)

    · Logging and splitting of core from hole BRDD-21-008 has been completed and samples prepared for dispatch to the analytical laboratory; similar work is progressing satisfactorily on the remaining holes

    · Drilling of the fifth and sixth holes of the programme (BRDD-21-011 & BRDD-21-012) is already well under way

    · The Company was pleased to be informed by the New South Wales licensing authority that it is proposed to renew the exploration licence covering the Racecourse deposit and adjoining prospects for a further three years until June 2024

    Colin Bird, Executive Chairman said: "We are pleased to announce that a further two holes have been completed at Racecourse confirming extensive mineralised zones which remain to be assayed. The intercepts cover both sides of the conceptual open pit and, as such, the new results are potentially very exciting. The next two holes are already well in progress.

    We are also very pleased that the New South Wales authorities have indicated their intention to grant renewal of the Racecourse exploration licence to June 2024. This will allow us to undertake all the work necessary to define the conceptual open pit and to identify further deposit extensions, as well as investigating other prospects within the licence area."


    Phase 2 Drilling Progress

    Two further holes have been completed at Racecourse from the same drill pads utilised for the first two holes. Both holes were drilled at -80 degrees towards the east-northeast and each drilled through two copper-mineralised zones on the western and eastern flanks of the Racecourse porphyry intrusive.

    Hole BRDD-21-009 was drilled to 735.4m final depth, passing through the main (western) zone with visible chalcopyrite copper mineralisation over a 236.2m downhole interval from 171.5m to 407.7m. Copper mineralisation in the eastern zone was encountered over a 132.9m interval from 587.0m to 719.9m. Chalcopyrite occurs mainly as disseminations and fracture/vein fill, associated with pyrite and pyrrhotite.

    BRDD-21-010 was drilled to 769m depth, with chalcopyrite observed over a 356m interval from 159m to 515m (main western zone) and also over a 168m interval from 600m to 768m downhole (eastern zone). The strongest mineralisation in the hole was logged from 340m to 358m, with mineral style similar to that reported for hole BRDD-21-009.

    Both rigs have now moved and have commenced drilling on the next two holes of the programme.

    Detailed core logging and cutting are continuing at site to prepare samples for laboratory analysis, with the first batch of samples from BRDD-21-008 ready for dispatch.


    Exploration Licence Renewal

    Licence number EL5574, which covers the Racecourse deposit, and EL8585 have been in the renewal process and the Company has been informed by the New South Wales licensing authority that it proposes to renew both licences for a further three-year period until 4 June 2024 and 5 June 2024 respectively. The renewal will preserve Xtract's rights to the Racecourse deposit and allow time to evaluate more fully the development potential of Racecourse and other targets within the licence block.

    The New South Wales mineral licensing system allows the opportunity for subsequent renewals, usually subject to the relinquishment of part of the licence area.


    Phase 2 Drilling Programme at the Racecourse Mineral Resource - Background

    The Bushranger porphyry copper-gold project is located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. The current JORC (2012)-compliant Inferred Mineral Resource on the Racecourse deposit is estimated as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, without inclusion of data from the Phase One drilling programme which was recently concluded and reported.

    The Phase Two programme is designed primarily to follow up on the results obtained by Anglo American Exploration Australia Pty Ltd ("Anglo") in 2014 and 2015 and to define further the shallower part of the Resource with a view to possible development of a large open pit. A total of approximately 8,000m of drilling is planned in the first block of 13 holes using two drill rigs, focussing primarily on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area.
     
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  2. Groucho

    Groucho Member

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    Screenshot_20210812_142011.jpg
    https://audioboom.com/posts/7922925...olin-bird-executive-chairman-xtract-resources

    LSE - CaveatEmptor RE: Vox interview with CB
    Good to hear, though, that an area has been cleared in Kalengwa and that material is being shipped to a local processor- so income due to flow in the short term...

    Also good to hear that, by the end of the year, we will have $500,000-$600,000 income per month from the hard rock in Manica, in addition to the income from Zambia.

    Confirmation that ongoing exploration at Bushranger will be totally funded from company income is also welcome news.

    So, a nice little hattrick coming up from CB and Xtract - the only shame is that the game is having to go into extra time before we can see the goals being scored.
     
    Last edited: Aug 12, 2021
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  3. Groucho

    Groucho Member

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    19 August 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Further Drilling Progress Update at Bushranger

    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to report on the continuing progress of the Phase Two diamond drilling programme with the completion of the fifth and the sixth holes at the Bushranger copper-gold porphyry exploration project in New South Wales.

    Highlights

    · The fifth and sixth angled holes of the Phase Two programme have been completed, further confirming the occurrence of wide zones of mineralisation at the Racecourse exploration target

    · Hole BRDD-21-011 was completed at 673.3m, having intersected 512m of visible copper mineralisation from 110m, including two intervals of stronger mineralisation over 43m and 162m lengths in the main (western) zone and one stronger mineralised interval in the eastern zone over a 49m length.

    · Hole BRDD-21-012 was completed at 498.4m after intersecting a 187m interval of visible copper mineralisation from 204m-391m, with a stronger 74m zone of mineralisation intercepted from 204m to 278m.

    · Logging and splitting of core from hole BRDD-21-007 has been completed and samples have been dispatched to the analytical laboratory, with work continuing on the remaining holes

    · Drilling of the seventh and eighth holes of the Phase Two programme is well underway and is targeting the continuation of mineralisation to the southeast at the Racecourse deposit as well as testing a strong IP geophysical anomaly discovered by the recent MIMDAS survey

    Colin Bird, Executive Chairman said:

    "Both these holes were within the conceptual pit shell and as such continue to confirm our prognosis for the potential for an expanding large open pit. As the programme continues, we will be testing the limits of the shell, and as we drill test the recently generated geophysics the potential for further expansion exists.

    Our programme is on schedule regarding the assay turnaround and I am confident we will have the first results in mid-September."

    Phase 2 Drilling Progress

    Drilling has continued at the Racecourse exploration project with the completion of two further diamond drillholes BRDD-21-011 & BRDD-21-012. The two holes were stepped to the east from the previous two holes and were targeted within the conceptual pit shell. Both holes intersected wide zones of visible mineralisation in the western flanks of the porphyry and hole BRDD-21-011 intersected mineralisation in the eastern zone of the porphyry intrusive.

    Hole BRDD-21-011 was drilled -60 degrees to the east-northeast and reached a final depth of 673.3m. The hole passed through 512m of visible chalcopyrite copper mineralisation from 110m, with two zones of stronger mineralisation noted within the main (western) part of the deposit within intervals 130m-173m and 282m-444m. The eastern flank of the deposit was intersected with a 49m wide zone of visible mineralisation between 573m-622m.

    Hole BRDD-21-012 was drilled -50 degrees to the east-northeast and reached a final depth of 498.4m. A 187m zone of mineralisation was intersected from 204m in the main (western) zone, with a 74m wide zone of stronger mineralisation occurring between 204m-278m depth.

    Sampling has completed on drillhole BRDD-21-007 with samples prepared for dispatch to the laboratory, and logging and sampling continues on the remaining drillholes.

    Phase Two drilling has continued with the commencement of the next two drillholes which are targeting the extension of mineralisation at the Racecourse target along strike to the southeast. One of these drillholes will test the upper part of the main zone of mineralisation and the second the south-eastern IP target zone.

    Phase 2 Drilling Programme at the Racecourse Mineral Resource - Background

    The Bushranger porphyry copper-gold project is located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. The current JORC (2012)-compliant Inferred Mineral Resource on the Racecourse deposit is estimated as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, without inclusion of data from the Phase One drilling programme which was recently concluded and reported.

    The Phase Two programme is designed primarily to follow up on the results obtained by Anglo American Exploration Australia Pty Ltd ("Anglo") in 2014 and 2015 and to define further the shallower part of the Resource with a view to possible development of a large open pit. A total of approximately 8,000m of drilling is planned in the first block of 13 holes using two drill rigs, focussing primarily on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area.
     
    Last edited: Aug 19, 2021
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  4. Groucho

    Groucho Member

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    2 September 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Further Drilling Progress Update at Bushranger

    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to report progress on angled holes BRDD-21-013 and 014 of the Phase Two diamond drilling programme at the Bushranger copper-gold porphyry exploration project in New South Wales.


    Highlights

    · Hole BRDD-21-014, sited to test a new IP geophysical target to the southeast of the Racecourse Indicated Mineral Resource, intersected a wide alteration zone with pyrrhotite/pyrite mineralisation and associated copper sulphides

    · Preliminary data from a drone-mounted magnetic survey indicates that BRDD-21-014 may be located within the margin of a new segment of the Racecourse porphyry system, with detailed modelling of the survey results and drillhole data to direct further drilling on this target

    · Hole BRDD-21-013, drilled at -50 degrees within the south-eastern part of the conceptual Racecourse open pit, was completed at 855.5m having intersected intervals of chalcopyrite mineralisation over about 305m length from 84m depth

    · Logging and splitting of core from holes BRDD-21-007, 008 and 009 has now been completed and samples have been dispatched to the analytical laboratory, with work continuing on the remaining holes

    · Processing/modelling of the drone-mounted magnetic survey at Racecourse will continue, with a focus on the new south-eastern target indicated by hole BRDD-21-014


    Colin Bird, Executive Chairman said:

    "These most recent holes help to confirm our prognosis for a large open pit in that hole BRDD-21-013 intersected the first copper mineralisation quite near surface, extending over a substantial interval of more than 300m.

    BRDD-21-014 encountered a wide interval of sulphide mineralisation suggesting that the airborne geophysics programme has identified a new zone or possibly a sheared zone from the Racecourse deposit. Recently received magnetic survey results suggest that the hole was on the margin of a new system and as such we are excited about the further potential. These two holes will be modelled and the continuing Phase 2 drilling programme will focus on open pit extensions and further testing of this newly emerging zone."


    Phase 2 Drilling Progress

    Hole BRDD-21-014 was sited to the southeast beyond the limit of the current Racecourse Inferred Mineral Resource and the conceptual open pit area to test a new MIMDAS IP target not investigated by previous drilling at Racecourse. The hole was drilled at -55 degrees towards the northeast and reached a final depth of 816.5m. It intersected what appears to be a new segment of the Bushranger porphyry complex, with significant widths of pyrrhotite-pyrite mineralisation and associated copper sulphides.

    Preliminary results received for a drone-mounted airborne magnetic survey in the area suggest that the hole may have cut the margin of the new zone and the final processed magnetic data will be utilised to assist with planning further holes, in tandem with full log and assay data from BRDD-21-014.

    The second rig at Bushranger has completed hole BRDD-21-013 within the south-eastern part of the conceptual open pit. The hole was collared at -50 degrees drilling towards the northeast and progressed to a final depth of 855.5m. The main mineralised target zone was intersected at about 84m downhole depth and ran through intervals of moderate to strongly developed copper mineralisation to about 389m depth. After passing through a zone of unaltered and unmineralised black shales, the hole hit a further deep zone of weak potassic alteration with pyrrhotite, pyrite and associated chalcopyrite copper mineralisation at around 800m.

    Detailed logging and sampling of drill core continues at site, with core from BRDD-21-007, 008 and 009 now at the assay laboratory.

    Following completion of hole BRDD-21-014, the first drill rig has now moved to the northwest and commenced drilling BRDD-21-015.

    Phase 2 Drilling Programme at the Racecourse Mineral Resource - Background

    The Bushranger porphyry copper-gold project is located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. The current JORC (2012)-compliant Inferred Mineral Resource on the Racecourse deposit is estimated as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, without inclusion of data from the Phase One drilling programme which was recently concluded and reported.

    The Phase Two programme is designed primarily to follow up on the results obtained by Anglo American Exploration Australia Pty Ltd ("Anglo") in 2014 and 2015 and to define further the shallower part of the Resource with a view to possible development of a large open pit. A total of approximately 8,000m of drilling is planned in the first block of 13 holes using two drill rigs, focussing primarily on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area.
     
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  5. Groucho

    Groucho Member

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  6. Groucho

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    Screenshot_20210914_073507.jpg
    Screenshot_20210914_073436.jpg

    Eureka drill plan and deposit outline
    http://www.rns-pdf.londonstockexchange.com/rns/6325L_1-2021-9-13.pdf

    Eureka EX-022 drill cross-section
    http://www.rns-pdf.londonstockexchange.com/rns/6325L_2-2021-9-13.pdf


    Eureka Project background

    Mineralisation at Eureka comprises chalcopyrite, chalcocite and malachite as coarse replacements and veins within sedimentary rocks along a north-west oriented structural trend. A shallow open pit mine was developed at Eureka by a local operator in 2008 within a strong, 3km long copper-gold soil anomaly, when about 1,000 tonnes of ore at 3% Cu was reportedly recovered. However, it is evident that the open pit was not sufficiently deep to develop the core of the deposit. Phase 1 drilling by Xtract was carried out in 2020 to confirm and extend the deposit as originally defined by limited historic drilling. Intercepts up to 32m @ 1.58% Cu, including 19.0m @ 2.08% Cu (Hole EX-01) were cored in this drill programme. The Phase 2 drilling programme was planned to provide infill grade information and extend the strike of the deposit.
     
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  7. Groucho

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    Last edited: Sep 14, 2021
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  8. Groucho

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    14 September 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Further Drilling Progress Update at Bushranger

    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to report continuing progress on the Phase Two diamond drilling programme at the Bushranger copper-gold porphyry exploration project in New South Wales with the completion of BRDD-21-015 and BRDD-21-016.


    Highlights

    · Hole BRDD-21-015 was targeted at the Northwest extent of the interpreted mineralised zone and was completed at 780.5m depth having intersected 566m of visible chalcopyrite mineralisation from 204m depth

    · The modelled resistivity low at 400m was interested accurately in hole BRDD-21-015 with a zone of more intense mineralisation from 399m depth within the interpreted high-grade crown of the intrusion

    · Hole BRDD-21-016 was targeted in the Southeast extent of the interpreted mineralised zone and was completed at 645.5m depth, visible chalcopyrite was intersected over a 492.5m interval from 93m depth, which includes two stronger zones of mineralisation from 162m to 302m and 430m to 525m

    · Both of these holes were designed to test the intrusion at shallower depths than the earlier Phase 1 drilling at the north-western and south-eastern extents of the Racecourse interpreted mineralised zone and the intersection of visible chalcopyrite mineralisation has further confirmed the prospectivity of the project

    · Logging and core splitting of the existing Phase Two drill-core is on-going

    · Drilling is underway on BRDD-21-017 which is targeting a resistivity low on the Northeast side of the intrusion and has intersected visible chalcopyrite from 118m depth


    Colin Bird, Executive Chairman said:

    "I am very pleased with the results of these two holes, both of which intersected long runs of mineralisation of varying strengths. Hole 15 intersected a long run of mineralisation in an area of low resistivity within the interpreted high-grade crown of the intrusion and we are pleased that this interception has demonstrated prospectivity at shallower depths. Hole 16 intersected two limbs and strong mineralisation in the proximity of the crown and has provided extensions of the mineralisation to the southeast. I am pleased that we report that hole number 17 has commenced and we have already intersected mineralisation at 118m."


    Phase 2 Drilling Progress

    Drilling has continued at the Racecourse exploration project with the completion of two further diamond drillholes BRDD-21-015 & BRDD-21-016.

    Hole BRDD-21-015 was drilled at -55 degrees towards the ENE above previous drillholes BRDD-21-002 and BRDD-21-003 from the Phase 1 programme, and tested the high-grade mineralised crown and resistivity low anomaly within the northwest extent of the interpreted mineralised zone. The hole was drilled to a depth of 780.5m and intersected a 566m interval of visible chalcopyrite copper mineralisation from 204m depth to 770m depth, a stronger zone of visible mineralisation was intersected within altered volcanics over a 271m interval from 399m within the interpreted high-grade crown of the intrusive body, which also coincides with the modelled resistivity low at 400m depth.

    Hole BRDD-21-016 was collared close to existing drillhole BRDD-21-013 and designed to test the southeast extent of the interpreted mineralised zone by drilling at a steeper dip of -70 degrees and towards azimuth 090 degrees (BRDD-21-013 drilled at a dip of -60 degrees towards azimuth 070 degrees). The occurrence of 492.5m intersection of visible mineralisation from 93m depth has confirmed the extension of mineralisation to the Southeast by up to 40m on the hangingwall and 100m on the footwall. Within the zone of visible chalcopyrite, two zones of stronger visible mineralisation were encountered over a 140m intercept from 162m depth, and a 95m intercept from 430m depth, interpreted to represent both limbs of the mineralisation in proximity to the crown.

    Phase Two drilling has continued with the commencement of hole BRDD-21-017 which is targeting a resistivity low in the Northeast extent of the porphyritic intrusion and has intersected visible chalcopyrite mineralisation from 118m depth so far.
     
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  9. Groucho

    Groucho Member

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    20th September 2021


    Xtract Resources Plc

    ("Xtract" or the "Company")

    Eureka Copper Project - Phase 2 drilling final assay results


    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide an update on the final assay results from the Phase 2 drilling programme at the Eureka copper-gold deposit on small scale mining licence number 22134-HQ-SML ("Eureka Licence") located in the Central part of The Republic of Zambia ("Eureka Project").


    Highlights

    · Final assays from the Phase 2 drilling programme at Eureka confirm a shallow, near-vertical, structurally-controlled copper deposit over approximately 300m of strike, still open to the west-northwest and containing pockets of exceptionally high-grade copper

    · New assay results include:

    o 22m @ 2.53% Cu from 7m depth, including 14m @ 3.71% Cu from 14m depth in vertical hole EX-023 sited 30m northwest of the historic shallow open pit

    o 2m @ 5.04% Cu from 40m depth within a wider zone of 21m @ 0.84% Cu from 38m depth in angled hole EX-014 sited 70m beyond the historic pit boundary

    · A second, 'stratabound-style' of chalcopyrite mineralisation dipping at 45 degrees to the southwest has been confirmed by angled hole EX-025 which assayed 3.05% Cu over 3m from 149m depth (or 4.43% Cu over 2m). This is an extension of a mineral style first seen about 40m up-dip in hole EX-02 (4m @ 2.35% Cu, 0.53g/t Au).

    · The stratabound copper zone remains unconstrained by drilling down-dip and along strike

    · Further drilling is planned to test both target types at Eureka


    Colin Bird, Executive Chairman said:"The latest results reinforce our confidence in extending the small-scale open pit towards the West, and in conjunction, the results are demonstrating the potential for a deeper mineralised system. Hole EX-025 showed a different style of mineralisation with a much shallower dip and warrants further investigation. There have been many suggestions that the Eureka project could be an IOCG occurrence and we will investigate this with deeper holes.

    In essence, we are pursuing two very viable targets in the extended open pit and have the potential for deep IOCG ore. We have made much more progress in this particular area than previous explorers and as such have unlocked an exciting exploration & development opportunity."



    Phase 2 Diamond Drilling Programme

    The Phase 2 diamond drilling programme was designed to both test the deposit strike extension and to provide additional information on deposit width and grade to support open pit mine planning.

    As reported previously, 21 shallow holes were drilled in Phase 2, designated EX-08 to EX-028 and totalling 1,584.6m, mostly angled to the northeast to cross the near-vertical mineralised zone. Assaying of half core was carried out at the ISO-accredited SGS analytical laboratory in Kalulushi, Zambia.

    Selected assay intervals for the 5 new holes sampled are tabulated below, including for completeness the significant assays previously announced for the other sampled holes. True width in angled holes is approximately two thirds of the downhole width, except for EX-025 which is true width.

    see RNS for detailed drilling results

    The angled holes were drilled to track the deposit along strike and to depth, as well as providing critical assay interval data. Vertical holes were drilled to provide information on depth to the top of the mineralisation (stripping requirement) as well as grade information for mine planning purposes.

    Among the highlights of the new results are EX-023 (vertical hole) with 22m @ 2.53% Cu from 7m depth, including 14m @ 3.71% Cu from 14m depth. This hole is located about 30m northwest of the limit of the shallow historic open pit, confirming that high copper grades continue in this direction beyond the pit boundary. Also, some 70m northwest of the old pit, angled hole EX-014 intersected a 2m zone of 5.04% Cu from 40m depth within a wider zone of 21m @ 0.84% Cu from 38m depth.

    An interesting feature of the drilling is the intersection of a deeper 'stratabound-style' zone of chalcopyrite mineralisation in angled hole EX-025 which assayed 3.05% Cu over 3m from 149m depth (or 4.43% Cu over 2m). This is an extension of a mineral style first seen about 40m up-dip in hole EX-02 (4m @ 2.35% Cu, 0.53g/t Au). This zone dips at about 45 degrees to the southwest and remains open further down-dip and potentially along strike.

    Overall, the results confirm continuity of the shallow mineralised zone over about 300m of strike, with pockets of exceptionally high copper grades in a partially oxidised supergene zone. Drilling to the northwest suggests that the deposit strike appears to swing towards west-northwest. It is planned to undertake further drilling to track this extension.

    The stratabound-style mineralisation represents a second target of considerable interest to Xtract which will be further drill-tested.


    Eureka Project background

    Mineralisation at Eureka comprises chalcopyrite, chalcocite and malachite as coarse replacements and veins within sedimentary rocks along a north-west oriented structural trend. A shallow open pit mine was developed at Eureka by a local operator in 2008 within a strong, 3km long copper-gold soil anomaly, when about 1,000 tonnes of ore at 3% Cu was reportedly recovered. However, it is evident that the open pit was not sufficiently deep to develop the core of the deposit. Phase 1 drilling by Xtract was carried out in 2020 to confirm and extend the deposit as originally defined by limited historic drilling. Intercepts up to 32m @ 1.58% Cu, including 19.0m @ 2.08% Cu (Hole EX-01) were cored in this drill programme as announced on 31 March 2020. The Phase 2 drilling programme was planned to provide infill grade information and extend the strike of the deposit.
    https://www.voxmarkets.co.uk/rns/announcement/dd6e05d0-f425-483b-889b-5c220ada9485/
     
    Last edited: Sep 20, 2021
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  10. Groucho

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    22 September 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Further Bushranger Phase 2 Drilling Programme update


    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide the geological results from drill hole BRDD-21-017 from the Phase 2 diamond drilling programme at the Racecourse Copper-Gold Deposit on the Bushranger Project, located in the Lachlan Fold Belt ("LFB") of New South Wales, Australia.


    Highlights

    · Drill hole BRDD-21-017 was completed at a total depth of 621.60m and tested the eastern contact of the porphyry, which has been little drill tested to date, and intersected a 607m interval of visible chalcopyrite mineralisation from a shallow downhole depth of 11m.

    · The hole passed through a 150m zone of stronger visible chalcopyrite mineralisation from 159m depth.

    · A second, 31m wide zone of stronger visible mineralisation was intersected from a downhole depth of 479m - this second zone opens up the possibility to define further mineral resources on the eastern side of the central porphyry intrusion.

    Colin Bird, Executive Chairman said:"BRDD-21-017 is particularly interesting as it is the first drill hole in this drilling campaign to test for mineralisation on the eastern contact of the porphyry and two extensive mineralised zones were intersected which provide the potential for near surface ore to add to the conceptual open pit."


    Bushranger Phase 2 Drilling Program

    Drill hole BRDD-21-0017 was drilled at -55 degrees to the E-NE and was designed to test a strong resistivity low anomaly within the inferred higher-grade "crown", in the up-dip extension of the Racecourse inferred mineral resource. At depth, it was also hoped that the hole would test for significant intersections of copper mineralisation on the eastern side of the central porphyry intrusion.

    The drill hole passed through a significant zone of mineralisation, with a 607m interval of visible chalcopyrite mineralisation intersected from 11m depth. A 150m zone of stronger mineralisation was intersected from 159m to 309m depth which corresponds with the up-dip position of the higher-grade "crown", and has the potential to extend higher-grade mineralised material to shallower depths. This zone of stronger mineralisation also showed a strong correlation with the modelled resistivity low anomaly, further confirming our hypothesis that areas of modelled low resistivity could be associated with more intense areas of copper sulphide mineralisation.

    The second zone of stronger copper mineralisation, from 479m - 510m, occurs on the eastern side of the central porphyry intrusion, and opens up the potential to define a new Inferred Mineral Resource on the eastern side of the central porphyry intrusion. A new mineral resource in this position, would add to the existing Racecourse Inferred Mineral Resource, which occurs predominantly on the western side of the central porphyry intrusion.

    Please see the following web links for the Racecourse Inferred Mineral Resource drill hole location plan and the drill holes relative to the IP anomalies:

    Bushranger Prospect Drill Hole Location Plan
    http://www.rns-pdf.londonstockexchange.com/rns/5169M_1-2021-9-21.pdf


    Phase 2 Drilling Programme at the Racecourse Mineral Resource - Background

    The Bushranger porphyry copper-gold project is located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. The current JORC (2012)-compliant Inferred Mineral Resource on the Racecourse deposit is estimated as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, without inclusion of data from the Phase One drilling programme which was recently concluded and reported.

    The Phase Two programme is designed primarily to follow up on the results obtained by Anglo American Exploration Australia Pty Ltd ("Anglo") in 2014 and 2015 and to define further the shallower part of the Resource with a view to possible development of a large open pit. A total of approximately 8,000m of drilling is planned in the first block of 13 holes using two drill rigs, focussing primarily on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area.
     
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  11. Groucho

    Groucho Member

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    23/09/2021
    Zak Mir talks to Colin Bird, Executive Chairman Xtract Resources about the company's portfolio in Africa and Australia, and how the various assets fit together within the mining and exploration company.
    https://audioboom.com/posts/7947383-traders-cafe-with-zak-mir-colin-bird-xtract-resources

    LSE - RE: Vox
    Great podcast. Should bring some attention. Hearing immediate milestones on Africa projects was great. Insight into hole 17 at Bushranger was appreciated. Thanks for putting it in (mainly) understandable terms. Wake up market!

    LSE - RE: Vox
    Based on that podcast, I think that Colin believes that the SP should be at least 6p already, just based on the exploration results to date - and still with all that copper and gold income in the pipeline. I honestly believe we will see double figures this year - and I can't wait to open that bottle of champagne!
     
    Last edited: Sep 23, 2021
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  12. Groucho

    Groucho Member

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    Screenshot_20210928_072759.jpg
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  13. Groucho

    Groucho Member

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    6917761A-3C4A-4A3D-A1FF-C09926425A41.jpeg
    https://embeds.audioboom.com/posts/7949971/embed/v4

    LSE - RE: Traders Cafe

    From the interview with Zak: "The big anomaly is probably as big as Racecourse itself"

    8/9 week turnover for assays not 6 as expected. Busy labs.
    Drilling 100m @day.
    Mid next week hope to have a new pit shape model to update market.

    Team working like Bilio
     
    Last edited: Sep 28, 2021
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  14. Groucho

    Groucho Member

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    LSE - RE: Midweek Takeway with Colin

    Really good in depth interview best yet a must watch. Has blown my mind in terms of scale now with the main bigger body to the south east. CB quoting now a billion tonnes!
    So much more discussed

     
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  15. Groucho

    Groucho Member

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  16. Groucho

    Groucho Member

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    Screenshot_20211005_071334.jpg
    Screenshot_20211005_071359.jpg
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  17. Groucho

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    7 October 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Completion of Drill Holes BRDD-21-018 and BRDD-21-019

    Bushranger Copper-Gold Project Phase 2 Drilling Programme


    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide the geological results from drill holes BRDD-21-018 and BRDD-21-0189 from the Phase 2 diamond drilling programme at the Racecourse Copper-Gold Deposit on the Bushranger Project, located in the Lachlan Fold Belt ("LFB") of New South Wales, Australia.


    Highlights

    · Drill holes BRDD-21-018 and BRDD-21-019 have both completed to final depths of 732.6m and 693.6m respectively.

    · Drill hole BRDD-21-018 was drilled to test for extensions of the known mineralisation along-strike to the northwest associated with a resistivity low anomaly

    · BRDD-21-018 intersected a 709.6m interval of trace to moderate visible copper porphyry-associated copper (chalcopyrite) mineralisation from a downhole depth of 23m until the end of hole. Moderate strength copper mineralisation occurred from a downhole depth of 253m until 450m, a downhole interval of 197m, with the strongest mineralisation occurring between 415m and 484m downhole depth, a downhole interval of 69m.

    · Drill hole BRDD-21-019 was drilled to extend the copper mineralisation intersected in Xtract hole BRDD-21-008 (184m @ 0.51% CuEq - refer to RNS 28 September 2021) and historical BRD009 which intersected 169m @ 0.39% Cu from 317m down hole depth (refer to RNS 1 June 2020).

    · BRDD-21-019 intersected a thick interval of visible trace to moderate copper porphyry-associated copper (chalcopyrite) mineralisation from a downhole depth of 201m until of 670m, a downhole interval of 469m. Moderate strength copper mineralisation occurred from a downhole depth of 270m until 356m, a downhole interval of 86m.


    Colin Bird, Executive Chairman said: "It is very pleasing to see that drill holes BRDD-21-018 and BRDD-21-019, which were designed to follow up our recent best ever intersection of high-grade copper mineralisation in hole BRDD-21-008 (184m @ 0.51% CuEq - refer to RNS 28 September 2021), have both intersected significant thicknesses of moderate intensity copper mineralisation. As we grow our knowledge of the Racecourse mineral system, we are better able to predict the orientation and location of the more intense copper mineralisation, allowing us to have a good sequence of promising intersections. We await with interest the assay results for holes BRDD-21-018 and BRDD-21-019."


    Please see the following web links for the Racecourse Inferred Mineral Resource drill hole location plan and the drill holes relative to the IP anomalies:

    Bushranger Prospect Drill Hole Location Plan
    http://www.rns-pdf.londonstockexchange.com/rns/3472O_1-2021-10-7.pdf

    Racecourse Prospect Cross Section for Drill Hole BRDD-21-019
    http://www.rns-pdf.londonstockexchange.com/rns/3472O_2-2021-10-7.pdf


    Geological Results of Drill Holes BRDD-21-018 and BRDD-21-019

    Drill hole BRDD-21-0018 was drilled with the objective of extending the known Racecourse Prospect copper mineralisation to the northwest and test the source of a resistivity low anomaly, identified from an IP survey completed in May 2021, which was postulated to be due to an increase in the intensity of chalcopyrite and pyrrhotite mineralisation, in the "crown" position at the top of the porphyry intrusive system.

    The drill hole is the most northwesterly drill hole completed on the project to date and is beyond the current limit of the Racecourse Inferred Mineral Resource. Drill hole BRDD-21-018 was drilled at an inclination of -50 degrees towards the ENE and was completed at a depth of 732.6m. The hole intersected a thick interval of trace to moderate visible porphyry-associated copper (chalcopyrite) mineralisation from a downhole depth of 23m until the end of hole at a depth of 732.6m, a downhole interval of 709.6m. Moderate strength copper mineralisation occurred from a downhole depth of 253m until 450m, a downhole interval of 197m, with the strongest mineralisation between 415m and 484m downhole depth, a downhole interval of 69m. The result from drill hole BRDD-21-018 confirms that the Racecourse copper mineralisation extends to the northwest beyond the limit of the Inferred Mineral Resource and is open to the northwest.

    Drill hole BRDD-21-018 occurs 425m to the northwest of drill hole BRDD-21-008, which has delivered the best intersection at the Racecourse Prospect to date (184m @ 0.51% CuEq - refer to RNS 28 September 2021). Drill hole BRDD-21-020 is currently being drilled to follow up on the intersection in drill hole BRDD-21-018.

    Drill hole BRDD-21-019 was drilled to extend the copper mineralisation intersected in BRDD-21-008 about 100m towards the northwest. The hole was drilled above historical drill hole BRD009 which intersected 169m @ 0.39% Cu from 317m down hole depth (refer to RNS 1 June 2020). Drill hole BRDD-21-019 was drilled at an inclination of -58 degrees towards the NE and was completed at a depth of 693.60m. The drill hole intersected a thick interval of trace to moderate porphyry-associated visible copper mineralisation from a downhole depth of 201m until a downhole depth of 670m, a downhole interval of 469m. Moderate strength copper mineralisation occurred from a downhole depth of 270m until 356m, a downhole interval of 86m.

    The results from both drill holes BRDD-21-018 and BRDD-21-019 suggest that the low resistivity anomalies detected by the May 2021 IP geophysical survey do correlate well with areas of increased sulphide mineralisation.


    Phase Two Drilling Programme at the Racecourse Mineral Resource - Background

    The Bushranger porphyry copper-gold project is located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. The current JORC (2012)-compliant Inferred Mineral Resource on the Racecourse deposit is estimated as 71Mt @ 0.44% Cu and 0.064g/t Au, at a 0.3% Cu cut-off, without inclusion of data from the Phase One drilling programme which was recently concluded and reported.

    The Phase 2 drilling program at the Racecourse Mineral Resource is designed to follow up on the very encouraging results obtained from the Phase 1 Racecourse drilling program which was concluded in April 2021 and historical drill results recorded by Anglo American Exploration Australia Pty Ltd ("Anglo") in 2014 and 2015. A total of approximately 8,000m of drilling is planned in the first block of 13 holes using two drill rigs.
    Screenshot_20211007_102708.jpg Screenshot_20211007_102736.jpg
     
    Last edited: Oct 7, 2021
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  18. Groucho

    Groucho Member

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    Traders Cafe with Zak Mir: Colin Bird, Executive Chairman, Xtract Resources
    Oct 8, 12:31 PM
    https://audioboom.com/posts/7957017...olin-bird-executive-chairman-xtract-resources


    LSE - RE: Vox markets

    Colin sounds very very keen to get stuck into that SE anomaly. So I don’t expect if will be long until we hear something concrete on that. Certain it will form a part of the Phase 2 Part 2 drilling programme. I think if copper mineralisation is confirmed in SE anomaly that could be a massive new SP catalyst. Perhaps a toe dip into Footrot too (pun intended)

    All in all could things be more promising? Don’t think so….


    RE: Vox markets
    Colin sounds very excited ! Drill zones open-ended and everything to play for !!
    Lovely Jubbly !!
     
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  19. Groucho

    Groucho Member

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    13th October 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Bushranger drilling and licence update


    The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to announce that approval has been received from the Resources Regulator in New South Wales ("NSW"), for a further 13 drill holes to be drilled as a part of the Phase 2 Drilling Programme at the Racecourse Prospect on the Bushranger Project, located in the highly prospective Lachlan Fold Belt ("LFB") of New South Wales, Australia. As previously announced exploration Licence ("EL") 5574 has been renewed until 4 June 2024. A further renewal for EL5574 can be submitted in 2024.


    Highlights

    · The NSW Resources Regulator has approved a further 13 drill holes for an estimated 9,385m to be drilled as a part of the ongoing Phase 2 Drilling Programme at the Racecourse Prospect

    · The 13 approved drill holes will allow Xtract to continue to extend the known copper mineralisation at the Racecourse Prospect to the northwest and southeast, and to test several large Induced Polarisation ("IP") resistivity anomalies outside of the currently estimated Racecourse Inferred Mineral Resource

    · As previously announced in August, EL5574, the main licence for the Bushranger Copper Project, has been renewed until 4 June 2024, and a further renewal for EL5574 can be submitted in 2024


    Colin Bird, Executive Chairman said: "We are very pleased that we have received the formal permissions for the new drilling that will allow us to extend our programme and test the encouraging geophysics generated in the southeast of the licence over the remainder of this year.

    It is also comforting to have the exploration licence extension until June 2024. This is a significant amount of time for us to continue our exploration and feasibility study programmes, and take the project to the next stages."


    Please see the following web links for the location of EL5574 on the Bushranger Project and the locations of the 13 approved additional Phase 2 drill holes at the Racecourse Prospect:

    Bushranger Project EL5574 Location Plan
    http://www.rns-pdf.londonstockexchange.com/rns/8649O_1-2021-10-12.pdf

    Drill Holes Approved by NSW Resources Regulator for Phase 2 Racecourse Project Drilling Programme
    http://www.rns-pdf.londonstockexchange.com/rns/8649O_2-2021-10-12.pdf

    Drill Holes Approved by NSW Resources Regulator and IP Data
    http://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf


    Approval of Additional Holes for Phase 2 Drilling Programme at the Racecourse Prospect

    The Phase 2 Racecourse drilling programme is ongoing and to date 15 diamond drill holes have been completed for over 10,000 metres drilled. Assay results have been received for two drill holes (BRDD-21-007, BRDD-21-008).

    In order to continue to extend the known copper mineralisation at Racecourse, with the objective of increasing the overall currently estimated Mineral Resource and testing several high priority IP anomalies, approval was requested from the NSW Resources Regulator to drill a further 13 holes for an estimated 9,385m at the Racecourse Prospect. Approval has now been obtained to drill these additional 13 drill holes as a part of the ongoing Phase 2 drilling programme at the Racecourse prospect for the period ending 21 December 2021. The Racecourse Phase 2 drilling programme is currently expected to conclude by about 2021 year-end.


    Renewal of EL5574 - Bushranger Project

    As announced on 12 August 2021, the Company was informed that the NSW Government proposed to renew Exploration Licence 5574, the main tenement which covers the Racecourse Inferred Mineral Resource, for the period until 4 June 2024. Following Xtract's confirmation to the NSW Government to accept the renewal of EL5574, on 21 September 2021 the NSW Government provided formal written confirmation that the NSW Mines Minister had renewed EL5574 until 4 June 2024 subject to Xtract continuing to meet the General Conditions usual for mineral exploration in NSW.
     
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  20. Groucho

    Groucho Member

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    14 October 2021

    Xtract Resources Plc

    ("Xtract" or the "Company")

    Manica Gold Update


    The Board of Xtract Resources Plc ("Xtract" or the "Company") announces the preliminary unaudited results for all alluvial and hard rock mining contractors for the Manica Concession for the three-month period ended 30 September 2021 (the "Period").


    Highlights

    · Total mining contractor gold production of 49.34Kg for the quarter, equivalent to approximately 1,586 ounces including initial hard rock production from Guy Fawkes of 170 equivalent ounces of gold

    · Total of 13.60Kg (equivalent to approximately 437 ounces) attributable to Explorator

    · Value of Explorator share of gold produced US$784,998

    · Gold sales in period of 152 ounces

    · Combined attributable revenue to Explorator from gold sales and other income for the Period amounted to US$373,781

    · Guy Fawkes development continued during the period and Fair bride progressed


    Colin Bird, Executive Chairman said: "The quarter ended 30 September 2021, was the third best period for production since we commenced alluvial mining at Manica and production in September 2021 was 46% higher any other previous month. Our policy is to have a number of sites operated by different contractors and continue on this basis into 2022. The Fair Bride and Guy Fawkes hard rock projects are both advancing satisfactorily, and we look forward to increased production from Guy Fawkes in the final quarter and initial production from Fair Bride towards the end the of 2021."


    Production summary

    Preliminary unaudited results for alluvial and hard rock mining contractors for the Manica Concession for the three-month periods ended September 2021, 30 June 2021, 31 March 2021 and 31 December 2020 and are set out in the table below. In addition to the information included in the table, the table below provides a further breakdown of costs between operational costs, production tax and land resettlement costs. To date, the Company has only reported results from alluvial operations. The quarter ended 30 September 2021 is the first quarter which includes results from hard rock operations. The Company's current focus is to continue to progress the Fair Bride hard rock operation.

    Screenshot_20211014_071038.jpg
     
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