Xtract Resources acquires antimony licenses in Morocco

LONDON - Xtract Resources Plc (AIM:XTR) announced Tuesday the acquisition of two exploration licenses in Morocco through its 80% owned subsidiary, Wildstone SARL, following completion of due diligence.

The Amghas Licenses, covering 32 square kilometers in Morocco’s Khenifra Province, were acquired for $105,000 and are valid for three years, expiring in June and July 2026 respectively.

The licenses include a former antimony mine that operated until the late 1950s. According to the company’s press release, the site contains multiple high-grade antimony sulphide veins visible at surface and in underground workings.

Xtract has begun the process to reinstate mining license status at Amghas, initiating a baseline study and Environmental Impact Assessment as part of statutory requirements.

Historical mining at the site reportedly focused on extracting extremely high-grade veins exceeding 40% antimony content, potentially leaving behind disseminated mineralization that could contribute to a larger resource.

The company stated that structural mapping has identified mineralized structures extending over several kilometers, connecting with historic workings and expanding exploration potential.

Exploration work has commenced with the goal of establishing a mineral resource estimate prior to potential mine reinstatement. The company plans to conduct underground channel sampling to assess antimony grades within exposed veins and surrounding rock.

Xtract’s senior geological team will join Wildstone’s local geologists to establish an evaluation program for the Amghas license and surrounding Wildstone licenses.

Antimony is classified as a critical metal with growing international demand.

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