Xtract Resources Plc has launched a diamond drilling program at the Silverking project in Zambia, in collaboration with Oval Mining Limited. This initiative aims to gather data for future mine development, potentially establishing a high-grade open-pit operation. The company currently enjoys a market cap of £4.28 million and a consensus “Buy” rating for its stock.
Xtract Resources Plc has initiated a diamond drilling program at the Silverking project, located in Zambia. This program is designed to advance the project by testing the depth and mineralized width of the primary copper pipe, as well as assessing additional mineral structures. The initiative is part of a joint venture with Oval Mining Limited, providing Xtract the opportunity to earn up to a 70% ownership in the venture.
The drilling activities are expected to yield significant data that could inform future mining development strategies. Successful results could lead to the establishment of a high-grade open-pit operation, thereby strengthening Xtract’s competitive stance within the copper mining industry. Xtract Resources is dedicated to the exploration and development of mineral resources with a focus on copper mining projects in Zambia, including the Silverking copper mine.
Xtract Resources has reported an average trading volume of 796,920 and currently holds a market capitalization of £4.28 million. The consensus rating for XTR stock is categorized as a “Buy,” indicating positive market sentiment for the company’s prospects.
Xtract Resources has embarked on a significant drilling program at the Silverking project in Zambia, which is aimed at enhancing the company’s capabilities in copper mining. The initiative, in partnership with Oval Mining Limited, allows for substantial ownership potential, contributing to Xtract’s future development goals. The positive technical sentiment surrounding the stock reinforces confidence in the company’s ongoing projects.
Original Source: www.tipranks.com
