Resource Data

Xtract Resources reports latest data from Bushranger

Xtract Resources Friday, updated the market on independent laboratory analyzes for drill hole BRDD-021-016, along with two other completed holes, on the second phase of the diamond drilling program of the copper exploration project- or Bushranger.

The publicly traded company said hole BRDD-21-016 returned “promising” intersections of copper and gold mineralization near the southern limits of the racetrack’s currently estimated inferred mineral resource.

Analysis results included 14 meters at 0.39% copper equivalent at a depth of 250 meters, in a wider area of ​​142 meters at 0.21% copper equivalent at 170 meters.

High gold values, being 40 meters at 0.23 grams of gold per tonne from 596 meters, under the main porphyry body of the racetrack, as well as a coincident induced polarization anomaly, suggest that a body Secondary porphyry could occur deep below the main central porphyry intrusion.

Xtract says drill hole BRDD-021-026 tested the extension of mineralization at depth on the west side of the central portion of the Racecourse deposit.

Based on a preliminary log and subject to laboratory analysis, chalcopyrite mineralization of varying strength occurred over an interval of 282.5 meters from 367 meters downhole.

Drill hole BRDD-021-027, meanwhile, was the second hole in the drill program, drilled with a west azimuth, and interpreted to have passed near the high-grade “crown” at the top of the intrusion.

Based on a preliminary log and subject to laboratory analysis, the hole intersected a 371 meter downhole interval of visible copper mineralization of varying strength, at a depth of 97 meters.

“The results from hole BRDD-21-016 again showed good sequences of copper grade, with mineralization over an interval of 142 m, of interest was a secondary gold zone intercepted at 596 m, which assayed up to 8m at 0.66 grams of gold per tonne, ”said Executive Chairman Colin Bird.

“Mineralization in hole 16 has been intersected at depth and below the crown, although it appears that gold is showing up at deeper levels.

“Recent drill results suggest copper mineralization extends further south than indicated by the mineral resource model and the results further encourage us to move the deposit further south or even discover new systems. porphyritic. “

As of 1:55 p.m. GMT, shares of Xtract Resources were down 1.79% to 5.5p.


Source link