Xtract Resources reports significant copper findings at Zambian project

LONDON - Xtract Resources Plc (AIM:XTR) announced Monday that drilling at its Silverking copper-silver project in Zambia has tripled the known surface expression of high-grade mineralization to over 260 meters in strike length.

The phase one drill program delivered several significant copper intercepts, including 24.1 meters at 5.99% copper and 40.2 g/t silver, and 54.1 meters at 3.18% copper and 40.3 g/t silver, according to the company’s unaudited interim results for the six months ended June 30, 2025.

The mining exploration company, which has projects in Zambia, Morocco and Australia, reported that the drilling data is expected to support development of an in-house mineral resource estimate for Silverking, which together with metallurgical studies will inform potential mine planning.

A ground VTEM survey identified a second mineralized structure parallel to the main Silverking orebody, with drilling returning 9 meters at 4.68% copper and 38.67 g/t silver.

The company also reported progress at its Western Foreland project in Zambia, where initial drilling confirmed the presence of prospective stratigraphic units with potential to host high-grade copper mineralization similar to the Kamoa-Kakula deposit.

In Morocco, Xtract has increased its stake in Wildstone SARL to 80% from the initial 50% acquired in February, with plans to develop antimony operations across 20 non-contiguous licenses in central Morocco.

For the six-month period, Xtract reported a net loss of £1.17 million compared to a loss of £0.16 million in the same period last year. The company had cash of £0.94 million as of June 30, down from £2.17 million at the end of 2024.

The financial and operational updates were provided in a press release statement from the company.

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