Business
Bushranger drilling and licence update
Bushranger drilling and licence update.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8649O\n Xtract Resources plc\n 13 October 2021\n \n \n \n \n \n \n \n For immediate release\n \n \n 13th October 2021\n \n \n \n \n \n Xtract Resources Plc\n \n \n (\"Xtract\" or the \"Company\")\n \n \n Bushranger drilling and licence update\n \n \n \n \n \n The Board of Xtract Resources Plc (\"Xtract\" or the \"Company\") is pleased to announce that \n 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\n , located in the highly prospective Lachlan Fold Belt (\"LFB\") of New South Wales, Australia. As previously announced exploration Licence (\"EL\") 5574 \n has been renewed until 4 June 2024. A further renewal for EL5574 can be submitted in 2024. \n \n \n \n \n \n Highlights \n \n \n \n \n \n · \n 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 \n \n \n · \n 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\n \n \n · \n 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 \n \n \n \n \n \n \n Colin Bird, Executive Chairman said:\n \n \"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. \n \n \n \n \n \n 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.\" \n \n \n \n \n \n Please see the following web links for the location of EL5574 on the Bushranger Project and the locations of t...