Business
Eureka Project Update
Eureka Project Update.
About this update from Xtract Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4828I Xtract Resources plc 09 August 2019 \n\n \n \nFor immediate release\n9 August 2019\n \nXtract Resources Plc\n(\"Xtract\" or the \"Company\")\nEureka Project Update \n \nThe Board of Xtract Resources Plc (\"Xtract\" or the \"Company\") is pleased to announce that the Company's technical consultants have provided an informal report to the Company on the integration of the previous exploration databases and undertaken an interim review of drill targets over the Eureka project on the copper-gold small scale mining licence number 22134-HQ-SML (\"Licence\") located in the Central part of The Republic of Zambia (\"Eureka Project\").\n \nHighlights\n \n· Historic data overview confirms targets for fast-track drilling\n· Two copper (+ gold) soil anomalies highlighted, the largest extending for 3km\n· Main anomaly peaks at 1,315ppm Cu, 540ppb Au in vicinity of previous worked shallow open pit mine\n· Drilling review indicates mineralisation in Eureka pit area remains open, with particular focus to the southeast and to depth \n· Parallel soil anomaly coincides with Eureka West target where undrilled high-grade copper mineralisation is exposed in trial pit \n· Several further geophysical targets not tested\n· Near-term drill targets selected subject to surveying of historic drill hole collars and preparatory ground work \n \nColin Bird, Executive Chairman said: \"We are pleased by the outcome of the interim review of the extensive exploration dataset that we have acquired for Eureka. The more we examine the historic information the more we are convinced that the strong structural and geochemical trends, along with significant drill intercepts and past mining history, can be indicators of substantial copper-gold orebodies on the property. Our exploration programme will be directed towards large scale oxide deposits, with sulphides at deeper levels. Initial shallow drilling will test the presence and configuration of these copper bodies. The occurrences of gold is encouraging and is in line with our belief that there is potential iron oxide copper gold (IOCG), Olympic Dam style mineralisation. \n \nOur strategy is different to...