Business
Completion of phase one drilling at Bushranger
Completion of phase one drilling at Bushranger.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5102U\n Xtract Resources plc\n 06 April 2021\n \n \n \n \n \n \n \n For immediate release\n \n \n 6 April 2021\n \n \n \n \n \n Xtract Resources Plc\n \n \n (\"Xtract\" or the \"Company\")\n \n \n Completion of Phase One Drilling at the Bushranger Copper-Gold Project \n \n \n \n \n \n The Board of Xtract Resources Plc (\"Xtract\" or the \"Company\") is pleased to provide an update on completion of the final hole of the Phase One diamond drilling programme at the Racecourse Inferred Mineral Resource (JORC 2012) on the Bushranger copper-gold exploration project, located in the Lachlan Fold Belt (\"LFB\") of New South Wales, Australia.\n \n \n \n \n \n \n \n \n \n \n \n Highlights \n \n \n \n \n \n · \n Angled hole BRDD-21-006 at Racecourse has been completed at 990.15m depth, concluding the Phase One drilling programme\n \n \n · \n The hole encountered typical porphyry-style copper mineralisation from 170m to 950m depth, passing through the 310m wide potassic alteration zone with well-developed chalcopyrite-pyrite-pyrrhotite mineralisation from approximately 570m to 880m down-hole\n \n \n · \n The drill rig will now stand down pending commencement of the planned Phase Two drilling programme\n \n \n · \n Assay results from hole BRDD-21-002 onwards are expected to be received in batches over the coming weeks and will be reported as they are received and collated \n \n \n · \n A MIMDAS deep IP geophysical survey is currently in progress to assist with defining extensions of the Racecourse deposit down-plunge and along strike\n \n \n · \n The drillhole assay data and the geophysical survey results will be entered to an updated 3-D deposit model that will assist in guiding the Phase Two drilling programme\n \n \n \n \n \n \n Colin Bird, Executive Chairman said:\n \n \n \"This is a good way to finish the Phase One drilling programme. All the completed holes passed through the potassic alteration zone with apparently good mineralisation. We are now busy with analysis of the raw data acquired and are building up a 3-D model to assist with planning of the Phase Two drilling programme. The geophysical programme has commenced - on completion we will understand much more about mineralisation trends and the potential of the Racecourse porphyry system. We are very pl...