Ferro-alloys.com：Recently, Xtract Resources announced that it has recently raised 5 million pounds to further develop its mining projects in Australia and Zambia. Executive Chairman Colin Bird explained that the company chose to raise funds because the first stage of the drilling in the Bushranger copper-gold project in New South Wales, Australia, had a gratifying effect. Drilling results show that the depth of mineralization far exceeds the company's expectations, and the number of drill holes needs to be increased to further control the size of the ore body, the grade of copper, and the grade of gold.
In addition, the additional funds will also be used to accelerate the development of the Eureka project in Zambia, which is expected to begin drilling in the next few weeks. Addison Mining Services has submitted the ore body profile of the Eureka project, and the specific mining plan will be finalized depending on the drilling results.