Drill programme planning Western Foreland Zambia
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The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide an update on exploration taking place on Licences 29123-HQ-LEL, 30458-HQ-LEL, 30459-HQ-LEL, 21850-HQ-LEL and 21851-HQ-LEL located in NW Zambia within both the Western Foreland and Fold & Thrust Belt domains.
Highlights
The following work has been completed to date:
- Detailed mapping and ground truthing undertaken in prospective terrain within the Western Foreland domain where lithological units are most likely to foster redox fronts and therefore potential for Kamoa-Kakula style mineralisation.
- Follow up investigations and reconnaissance carried out within the Fold & Thrust Belt ("FTB") domain identifying the origins of surface artisanal mining activity and other copper showings and targeting mineralised rafts typical in the FTB.
- Selecting and prioritising drill collar positions for follow up drilling on all Xtract's NW Zambian licences.
- Compilation of all permits and approvals and the updating of local chiefdoms, facilitated by Cooperlemon Consultancy, Xtract's partner in the Licences.
Colin Bird, Executive Chairman said: "Our work on the NW Zambia exploration licences has been very progressive to the point that we have identified initial drill targets which we expect to commence drilling before the end of the third quarter this year.
The licences are centrally positioned relative to the Western Foreland geological architecture. Field work greatly added to our previous information base, and we are optimistic about our targets and the general licence area.
The Zambian Western Foreland continues to be a strong focus for the international mining industry, and we are pleased to have gained such a highly prospective position in the belt. We will keep investors appraised of the results of our field work as it progresses."
Qualified Person
Technical Glossary
| "Kamoa-Kakula style" | Ultra-high grade copper deposits occurring on the contact between ancient basement and younger Katangan aged rocks as in the Western Foreland area of the DRC. |
| "Fold and Thrust Belt" | A series of mountainous foothills adjacent to an orogenic belt, which forms due to contractional tectonics |
| "Mineralised rafts" | Mineral deposits/occurrences in a higher stratigraphic position that may be detached from deposits deeper in the stratigraphic column |
| "Redox front" | Oxidation/reduction reaction occurring in the weathering zone along the water table |
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