Colin Bird, Executive Chairman, Xtract Resources plc (XTR.L) Exclusive Interview.
Colin Bird, Executive Chairman said: "The assay results from the first hole at the Racecourse deposit are exciting in that they confirm mineralisation for almost a kilometre down-plunge. The overall grade of 0.33% CuEq is very pleasing and I am particularly encouraged by the grade uniformity over the entire intercept. Results from the remaining holes will give us more information about the thickness and across-strike continuity of the mineralisation. The assay results from the initial hole compare very favourably with results reported from Alkane's Boda project and the bias towards copper at Racecourse is welcome, as it is a metal forecast to be in strong demand for years to come. I am also encouraged by the spread of molybdenum values throughout the drill interval - while these might not represent a financial credit to the project, they are good evidence for extensive development of porphyry systems in the region.