Xtract Resources (XTR)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.85p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.35
  • 52 Week Low: 0.80
  • Currency: UK Pounds
  • Shares Issued: 856.38m
  • Volume: 987,503
  • Market Cap: £7.28m
  • RiskGrade: 1,021

Xtract on track with second drilling phase at Racecourse

By Josh White

Date: Monday 12 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Xtract Resources updated the market on plans for the second phase diamond drilling programme and the results of additional geophysical surveying at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project in the Lachlan Fold Belt of New South Wales (NSW), Australia on Monday.
The AIM-traded company said the programme was on track to start around 15 July, as the necessary approvals had now been received from the state authorities in NSW.

A total of about 8,000 metres of drilling was planned in the first phase of 13 holes using two drill rigs, primarily focussing on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area.

Xtract said a report on the modelling of various open pit scenarios, commissioned from external mining consultants, was expected shortly, with the new drilling to complement that study.

In addition, further processing of the MIMDAS induced polarisation survey data had confirmed a "substantial" sub-parallel chargeability zone to the southeast of Racecourse, covering an area at least as large as the original Racecourse anomaly.

That, it said, could represent an extensive mineralised system on the eastern side of the central porphyry intrusion, with initial drill testing of that target also planned in the second phase.

"All logistics and preparations for the phase two drilling programme are in place - we are planning to commence drilling around 15 July, with the first part of phase two comprising about 8,000 metres of drilling," said executive chairman Colin Bird.

"The geophysics programme has been very successful in highlighting the potential for additional shallow and deep mineralisation at Racecourse.

"The initial part of the drill programme will focus on the shallower part of the system with the objective to confirm and expand current models for a large open pit."

At 0957 BST, shares in Xtract Resources were up 1.43% at 3.67p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

XTR Market Data

Currency UK Pounds
Share Price 0.85p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.35
52 Week Low 0.80
Volume 987,503
Shares Issued 856.38m
Market Cap £7.28m
RiskGrade 1,021

XTR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
29.50% above the market average29.50% above the market average29.50% above the market average29.50% above the market average29.50% above the market average
73.68% above the sector average73.68% above the sector average73.68% above the sector average73.68% above the sector average73.68% above the sector average
Price Trend
79.43% below the market average79.43% below the market average79.43% below the market average79.43% below the market average79.43% below the market average
48.78% below the sector average48.78% below the sector average48.78% below the sector average48.78% below the sector average48.78% below the sector average
Income Not Available
Growth
53.93% above the market average53.93% above the market average53.93% above the market average53.93% above the market average53.93% above the market average
32.08% above the sector average32.08% above the sector average32.08% above the sector average32.08% above the sector average32.08% above the sector average

XTR Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:07 200,000 @ 0.89p
15:40 7,042 @ 0.80p
14:30 99,007 @ 0.81p
14:18 71 @ 0.80p
12:22 215,000 @ 0.89p

XTR Key Personnel

CFO Joel Silberstein

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