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Xtract Resources said it had collected positive assay results from preliminary sampling of mine tailings at the Kalengwa copper project in Zambia.
Sampling yielded an average grade of 1.03% cooper and 4.44 parts per million of silver.
'This is a very pleasing result confirming copper grades in tailings over a large sample population, similar to results reported in archive information,' executive chairman Colin Bird said.
'We are currently undertaking metallurgical test work aimed at assessing the optimal method of copper recovery through mineral processing, upgrading or separation at site.'
'Work is continuing at Kalengwa to enhance local infrastructure to facilitate the planned operation.'
'We intend in the near term to undertake drilling to assess primary ore potential to the north and south of the former open pit.'
At 2:54pm: (LON:XTR) Xtract Resources Plc share price was +0.05p at 1.23p