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Xtract Resources ( (GB:XTR) ) has issued an update.
Xtract Resources Plc has completed the Phase 2 drilling program at the Silverking Project in Zambia, achieving significant progress in understanding the Main Body and the Kopje prospect. The drilling results include promising mineralization findings, such as visible malachite and native copper stringers, which align with the company’s mineralization model. This advancement allows Xtract to proceed with preliminary pit shell design and further exploration to develop a Mineral Resource Estimate. The completion of this phase also meets the expenditure commitments required to increase Xtract’s interest in the project, potentially enhancing its market position and offering growth opportunities for stakeholders.
More about Xtract Resources
Xtract Resources Plc operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in copper mining and exploration activities, with a significant project located in the Mumbwa District of the Central Province of Zambia. Xtract Resources has a strategic joint venture with Oval Mining Limited, allowing it to earn a substantial interest in the Silverking copper mine and its exploration license.
Average Trading Volume: 889,905
Technical Sentiment Signal: Hold
Current Market Cap: £8.26M
For a thorough assessment of XTR stock, go to TipRanks’ Stock Analysis page.