Xtract Resources Initiates Drilling Program at Silverking Project, Zambia

Xtract Resources Plc has initiated a diamond drilling program at the Silverking project in Zambia, in collaboration with Oval Mining Limited. The program aims to test the mineralized copper pipe and evaluate other structures, with the potential to establish a high-grade open pit operation. Xtract holds a market cap of £4.28 million and focuses on copper mining projects in Zambia.

Xtract Resources Plc has initiated a diamond drilling program at its Silverking project in Zambia, which is intended to propel the project’s development. The focus includes assessing the depth and mineralized width of the primary copper pipe, as well as evaluating other geological structures. This undertaking is part of a joint venture with Oval Mining Limited, through which Xtract aims to secure up to a 70% stake in the project.

The drilling program is anticipated to yield crucial data to inform future mine development strategies, potentially facilitating the establishment of a high-grade open pit operation. Success in this initiative may significantly bolster Xtract Resources’ standing within the copper mining sector.

In terms of company overview, Xtract Resources Plc specializes in the exploration and development of mineral resources, with a primary emphasis on copper mining projects in Zambia, particularly the Silverking mine. The company operates with an average trading volume of 796,920 and currently holds a market capitalization of £4.28 million.

In conclusion, Xtract Resources Plc has embarked on a significant drilling program at the Silverking project, aiming to enhance its development and strengthen its market position within the copper mining industry. Through its joint venture with Oval Mining Limited and the targeted drilling objectives, the company is poised to gather essential data for future operational advancements. Xtract’s ongoing efforts emphasize its commitment to the exploration of valuable mineral resources, particularly in Zambia.

Original Source: www.tipranks.com