Xtract Resources Phase 2 at Bushranger Copper Project

 The drilling phase of the first section of Phase 2 is almost over. Xtract have today released, (finally) a map of the drill locations giving us the chance to assess the initial success of the visuals and what we can expect from the assays.

I've included a table, which I keep, as I think it helps to give a more rounded view of the holes and what to expect from the assays.

As you can see some holes, such as Hole 7, include huge sections of Massive Sulphides (700-800m). Many of the holes have materially expanded the resource in all directions.

A completely new section to the east has been intersected on several occasions.

Hole 14 is a real unknown as it hit over 600m of mineralisation in a completely new porphyry target, possibly a sheared twin zone.

There will be many AIM companies bragging about hitting 500m or more of VMS (massive sulphides), It looks like we got there first with far more to spare.

Over the coming 6-8 weeks, Xtract will get regular assay results which we can directly feed into expansions of the current JORC. All of which will add considerable copper and tonnage to the open pit model, increasing the NPV and lower costs considerably.

Key aspects to look out for from the assays will be the copper grades outside the good-strong zones, the open pit requires 0.15 CUEQ. The shallowness of the copper grades. The grading in the newly discovered zones. Any copper-gold in hole 14 will be exceptional for Xtract as this only touched the very outside of the entirely new, potentially larger, porphyry zone.