Xtract Resources (GB:XTR) has released an update.
Xtract Resources Plc has entered into a collaboration agreement with Chilibwe Mining Limited to explore and develop a sizeable exploration licence in Zambia. Under the agreement, Xtract will assist in preparing a work programme and obtaining project funding, earning a 25% stake in the project without any initial funding commitment. The licence area is strategically located near major mining operations and has historical exploration data that Xtract is currently evaluating.
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