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Xtract Resources makes good progress with Chepica development

Jan Nelson, chief executvie, described the progress this quarter as “excellent.”
Xtract Resources makes good progress with Chepica development
Two new gold reefs on the Colin prospect had been opened up

Xtract Resources (LON:XTR) is on track hit its tonnage target for the final quarter of the year at the Chepica gold mine in Chile.

Jan Nelson, chief executive, said two new gold reefs on the Colin prospect had been opened up, while the development of the Chepica prospect had reached a depth of 90m.

A total of 5,770 tonnes has been milled to date, out of a planned 11,999t this quarter, with a further 6,480t stockpiled on the surface.

Drilling, meanwhile is continuing at Colin and Xtract expects to upgrade the resource early next year

Nelson described the progress this quarter as “excellent.”

“Our new development plan is on target and we have now not only fully developed the two reefs on 5 level at the Colin prospect, but we have also opened up reefs on 4 and 6 level.

“Together with the tons that the reef development and the stoping of the two reefs on 5 level will generate we are confident of achieving our tonnage target for the quarter.“

Elsewhere, work was also progressing well Manica acquisition and on the O'Kiep, Caroulsberg and Concordia Copper Dumps, said Nelson.

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