- Mining group Xtract Resources has completed drilling the final hole of the phase one drilling programme at the Racecourse Inferred Mineral Resource on the Bushranger copper-gold exploration project in New South Wales, Australia.

The company said that angled hole BRDD-21-006 at the Racecourse has been completed at 990.15m depth, concluding phase one, and that the drill rig will now stand down pending commencement of the planned phase two drilling programme.

Executive chairman Colin Bird said: 'This is a good way to finish the Phase One drilling programme. All the completed holes passed through the potassic alteration zone with apparently good mineralisation.

'We are now busy with analysis of the raw data acquired and are building up a 3-D model to assist with planning of the Phase Two drilling programme.'

Bird added: 'The geophysical programme has commenced - on completion we will understand much more about mineralisation trends and the potential of the Racecourse porphyry system.'

At 1:20pm: [LON:XTR] Xtract Resources Plc share price was 0p at 1.15p

Story provided by