Colin Bird, Executive Chairman of Xtract Resources plc (LON:XTR) Operations Upate
April 3, 2020
Zak Mir talks with Colin from Xtract about the drilling update on Eureka and Kajevu Copper Prospects, Zambia announced this week
Eureka Licence is located in the Central part of The Republic of Zambia ("Eureka Project") and copper-gold small scale mining licence number 8370-HQ-SML located at Kajevu, Kasempa, North Western Province in the Republic of Zambia
Colin Bird, Executive Chairman said: "These significant intercepts from the Eureka drilling program are very encouraging and represent some of the better drilling results emerging from new Zambian exploration activities. The presence of gold puts some doubt on the occurrences being traditional copper belt mineralisation with more similarity to the upper Katanga series which is found in Zambia but more common in the DRC. The immediate plan is to identify an oxide resource for short term oxide production, whilst embarking on an exploration programme for a greater target.
The licence area has a number of anomalies not tested by this programme or with similar highly prospective possibilities. Positive results from these areas could lead to a large-scale copper resource. The Kajevu licence appears to be limited in potential and will not be further pursued. We look forward to the conclusion of the rains and, after further modelling, building in the results of this programme and testing other targets."