Business
Bushranger drilling programme - further update
Bushranger drilling programme - further update.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8901L\n Xtract Resources plc\n 15 January 2021\n \n \n \n \n \n \n \n For immediate release\n \n \n 15 January 2021\n \n \n \n \n \n Xtract Resources Plc\n \n \n (\"Xtract\" or the \"Company\")\n \n \n Bushranger Copper/ Gold Project Drilling Programme - Further Update\n \n \n \n \n \n The Board of Xtract Resources Plc (\"Xtract\" or the \"Company\") is pleased to provide a further update on the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt (\"LFB\"), New South Wales, Australia. \n \n \n \n \n \n Highlights \n \n \n \n \n \n · \n Drilling of the first of three holes on the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, has now progressed to a depth of 804m in drill hole BRDD-20-001\n \n \n · \n Copper mineralisation commenced in drill hole BRDD-20-001 at a depth of 110m and has become stronger as the hole has continued to the current depth of 804m\n \n \n · \n The copper mineralisation is predominantly disseminated chalcopyrite (copper sulphides) within a strongly altered quartz-feldspar porphyry intrusive body\n \n \n · \n Drilling operations are continuing to progress at a significant pace with drill hole BRDD-20-001 advancing at a rate of 80-90m per 24-hour period\n \n \n · \n As well-developed copper mineralisation in drill hole \n BRDD-20-001 \n is continuing towards the original planned hole depth of 815m, \n drilling will continue until the mineralisation is drilled through\n \n \n · \n The Phase One drilling programme will comprise three diamond drill holes for a total of 2,290m, with the objective of extending the copper-gold mineralisation beyond the current boundary of the Mineral Resource of 71Mt @ 0.44% Cu & 0.064g/t Au, at a 0.3% cut-off, which has been classified as Inferred in accordance with JORC (2012)\n \n \n \n \n \n \n Colin Bird, Executive Chairman said:\n \n \"The hole is continuing in strong mineralisation of various styles to the current depth, which is very encouraging for the scale of the porphyry system at Racecourse. We will continue to drill until we bottom out of the zone.\"\n \n \n \n \n \n \n Hole BRDD-20-001\n \n \n Drilling Results to Date\n \n \n \n \n \n ...