Xtract Resources Launches Diamond Drilling at Silverking Copper Project in Zambia
London-listed Xtract Resources has commenced a diamond drilling program at its Silverking project (Licence 26673-HQ-LEL) in Zambia’s Mumbwa district, Central Province. The program aims to advance project development by assessing mineralisation potential and expanding exploration.
Silverking operates under an option and joint venture agreement with Oval Mining, allowing Xtract to earn up to a 70% stake in the Silverking copper mine and its surrounding exploration licence.
Key Drilling Objectives
The drilling campaign seeks to:
- Assess the depth extension of the high-grade main pipe.
- Determine the true mineralised width of the main pipe, where historical drilling ended within mineralised zones.
- Analyze wall rock alteration around the high-grade copper sulphide body to evaluate the potential for bulk tonnage copper mineralisation.
- Explore a second pipe structure, where past drilling failed to intersect the target.
- Identify sources of magnetic anomalies near the main pipe, which could indicate additional mineralised offshoots.
- Test a newly identified anomaly, recently incorporated into the expanded licence area.
- Generate spatial data for a preliminary estimate of cumulative mineralisation tonnage, aiding development planning.
Advancing Mine Development
Xtract’s executive chairperson, Colin Bird, emphasized the project’s advantage due to historical small-scale mining, which extracted high-grade, near-surface copper mineralisation.
“We have had the opportunity to study the mineralised body, understand its geological structure, and apply this knowledge across the licence to identify similar targets,” Bird stated.
The first drill hole will determine the depth and shape of the main pipe, guiding potential mine development. Xtract envisions a high-grade open-pit operation, with underground extensions considered if mineralisation extends beyond practical open-pit depths.
“Our approach will be driven by grade, tonnage, and orebody morphology, ensuring an efficient and economically viable development plan,” Bird concluded.
