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Ascot Prospect Maiden Mineral Resource
Ascot Prospect Maiden Mineral Resource.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n 19 December 2022\n \n \n \n \n \n \n \n \n \n Xtract Resources Plc\n \n \n \n (\"Xtract\" or the \"Company\")\n \n \n \n Ascot Prospect Maiden Mineral Resource\n \n \n \n \n \n \n \n \n The Board of Xtract Resources Plc (\"Xtract\" or the \"Company\") is pleased to announce the maiden Mineral Resource Estimate for the Ascot Prospect, on the Bushranger Copper-Gold Project in central New South Wales, Australia, following the discovery of a new porphyry system at the Ascot Prospect in December 2021. The maiden Ascot Inferred Mineral Resource adds a further approximately 190,000 tonnes of copper equivalent metal to the 1.1Mt reported previously at the Bushranger Project.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n \n ·\n A maiden Inferred Mineral Resource Estimate for the Ascot Prospect at the Bushranger Project is reported by independent consultants\n Measured Group Pty Limited (\"Measured Group\") as 87\n Mt @ 0.22% CuEq*, at a cut-off of 0.1% CuEq, containing 0.19Mt of copper equivalent metal and classified as Inferred in accordance with JORC (2012)\n \n \n ·\n The Ascot Prospect copper-gold mineralisation and the Racecourse Prospect copper-gold mineralisation to the north (refer to RNS 23 November 2022), together contain approximately 1.3Mt of contained copper-equivalent metal\n \n \n ·\n The copper-gold mineralisation at the Ascot Prospect comes to surface and contains a higher-grade section of 34Mt @ 0.33% CuEq, reported at a cut-off of 0.2% CuEq\n \n \n ·\n When combined with the shallower higher grade zone previously reported for Racecourse, this gives a total of 225Mt @ 0.33% CuEq of potentially open pittable mineralisation for the Bushranger Project\n \n \n ·\n With the maiden Mineral Resource defined for the Ascot Prospect and the updated Mineral Resource estimated for the Racecourse Prospect, Xtract has now engaged independent consultants, Optimal Mining\n Solutions (Pty) Ltd of Australia\n , to update the July 2021 open pit mining study for the Bushranger Project, to determine the economics of a 25Mtpa open pit mining operation, utilising the Mineral Resources at both the Racecourse and Ascot prospects\n \n \n ·\n The Ascot Prospect remains open down-dip and to the south, where an untested IP geophysical anomaly occurs...