25 September 2017
Xtract Resources Plc
("Xtract" or the "Company")
Manica Alluvial Update
The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide a further update on the Manica alluvial mining contractors' progress towards operations commencing on the Manica concession.
· Omnia Mining have deposited approximately 25,000 tonnes of alluvial materials on the plant stockpile ready for processing
· Omnia Mining have pre-stripped a considerable amount of overburden in advance of the alluvial face
· Process Plant is in position and all items have been run and tested. A single water pipeline remains to be installed
· Sino Minerals have exposed a considerable amount of alluvial materials prior to their extraction
· Sino Minerals are approaching their commitment by the installation of three smaller plants. All of these plants are on site and will be assembled over the coming weeks
· Some revenue expected for September 2017, with rapid build-up from both contractors during October 2017
Colin Bird, Chairman said: "I am pleased to be able to report that both contractors are aggressively pursuing their production goals. September 2017 should see Omnia Mining in production with Sino Minerals commencing production mid-October 2017. Unlike a hard rock operation, an alluvial operation demands less complex start up procedures and I am hopeful for steady state production by the end of October 2017.
During the recent weeks a number of new initiatives have been initiated and are actively being pursued. The thrust of these initiatives is area consolidation, accelerated hard rock production and re-evaluation of existing exploration sites."
Further details are available from the Company's website which details the company's project portfolio as well as a copy of this announcement: www.xtractresources.com
Photographs will be added to the Company's website as the project develops.
This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse.
Xtract Resources Plc
Colin Bird, Executive Chairman
+44 (0)20 3416 6471
+44 (0)207628 3369
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Email: [email protected]
+44 (0)207 382 8300
This information is provided by RNS