Xtract Resources Provides Silverking Project Exploration Update
Why we think this is neutral
The RNS announcement provides an update on the exploration activities at the Silverking Project, including the completion of the Phase 1 drilling program and the notable intercepts. However, it does not contain any of the mandatory news types, such as contract news, order news, trading update, or annual results. Therefore, the sentiment is assessed as neutral.
Key Points
- Completion of Phase 1 drilling program at Silverking Project in Zambia
- Notable downhole intercepts including 23m @ 1.49% Cu & 18.96g/t Ag and 9m @ 4.68% Cu & 38.67g/t Ag
- Channel sample at Kopje prospect yielded 4.3m @ 2.55% Cu & 30.40g/t Ag
- Preparatory work underway for 2,000m of drilling over the Kopje Prospect
Summary
Xtract Resources Plc has provided an exploration update on the Silverking Project located in the Mumbwa District of the Central Province of Zambia. The Phase 1 drill programme focused on the Main Body and its immediate extensions has been completed, with holes SKIDD013 to SKIDD019 yielding notable downhole intercepts including 23m @ 1.49% Cu & 18.96g/t Ag and 9m @ 4.68% Cu & 38.67g/t Ag. The company also reported a channel sample across an old working at the Kopje prospect that yielded 4.3m @ 2.55% Cu & 30.40g/t Ag. Preparatory work is underway to provide access and drill pads for an estimated 2,000m of drilling over the Kopje Prospect.