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Forget your sleepy Sunday afternoons; there’s a mining buzz brewing in Zambia that’s got investors’ pulses racing. AIM-listed Xtract Resources has struck a rich vein of copper at its Silverking project, and the latest drilling results are nothing short of electrifying.
According to Xtract’s no-nonsense chairperson, Colin Bird, a fresh batch of assay results has effectively doubled the high-grade mineralisation zone to a hefty 160 metres. This isn’t just a little bump; it’s a significant expansion of what already looked like a promising copper and silver deposit.
Xtract is currently in the process of sinking its teeth into the Silverking project, aiming for a juicy 70% stake from Oval Mining. The recent drill results have confirmed the presence of substantial widths of high-grade copper, often glinting with valuable silver – the kind of news that sends shivers of excitement down a geologist’s spine.
But the clever chaps at Xtract aren’t just focused on the prime cuts. They’re also exploring how to squeeze value from the lower-grade rock surrounding the high-grade ore. Think of it as finding gold dust in the tailings. Metallurgical boffins are now tinkering with gravity-based methods – spirals and jigs, no less – to see if they can economically upgrade this less concentrated material into a pre-concentrate. The idea is to create a richer feedstock for final processing at a central hub.
Bird, ever the straight-shooter, suggests this could be a game-changer. If they can successfully treat the lower-grade stuff, it could mean a significant jump in the amount of ore they can process and, crucially, the total copper they can pull out of the ground. More copper equals more ka-ching!
“We’re not stopping here,” declared Bird. “Our drills will keep biting into the earth until we hit the edge of this mineralisation. At the same time, we’re sending drills deeper – down to around 400 vertical metres – to see just how far this copper treasure chest extends.”
The metallurgical investigations have also been beefed up, with Xtract teaming up with engineers who have apparently achieved “very exciting” results using good old-fashioned gravity to boost the copper content of the lower-grade material.
“This could be significant,” Bird elaborated, hinting at the bigger picture. “Our high-grade ore often comes with a lower-grade halo, and if we can treat that effectively, it’s like finding extra pockets in your favourite pair of trousers – more copper for the taking. We’ll keep the market informed as the assay results keep rolling in.”
So, while you’re pondering your Sunday roast, Xtract Resources is digging deep in Zambia, unearthing a copper bounty that could have a significant impact on their fortunes – and perhaps even the global copper market. Watch this space; the Silverking story is just getting interesting.
