The Board of Xtract Resources Plc announced that the second drill hole, drilled into the newly discovered Ascot Prospect, on the Bushranger porphyry copper-gold project in New South Wales Australia, has delivered a significant intersection of copper and gold confirming Ascot as a high potential discovery. Drilling is ongoing to define the extents of the Ascot intrusion and to better understand the distribution of copper and gold mineralisation. Drill hole BRDD-21-035 intersected several intervals of copper and gold mineralisation over a wide 520m downhole zone from 166m to 686m depth, confirming the Ascot prospect as a new discovery of high potential, located 1.5km to the south-east of the existing Racecourse deposit.

BRDD-21-035 delivered a best interval of 64m at 0.58% CuEq from 552m, within a broader zone of 164m at 0.34% CuEq from 552m; The mineralisation intersected in BRDD-21-035 is amongst the widest and highest-grade copper-gold intersections recorded to date on the Bushranger Project. The Ascot prospect appears to be enhanced in gold compared to the Racecourse deposit, suggesting that Ascot is a separate mineralised porphyry intrusion to Racecourse, further enhancing its potential. Drilling is ongoing at Ascot with the objective of defining the extents of the mineralisation and the distribution of copper and gold associated with the intrusion.

Drilling and a MIMDAS geophysical survey is also being planned for the 1.5km section between Racecourse and Ascot to determine how the two intrusions relate spatially; Drill holes BRDD-21-018 and BRDD-21-022 testing the north-western extension of the Racecourse porphyry body at depth, returned wide intervals of copper mineralisation, including: 170m at 0.22% CuEq from 528m in BRDD-21-018 including 12m at 0.41% CuEq from 648 meter. 144m at 0.28% CuEq from 522m in BRDD-21-022. BRDD-21-017, targeting an outlying IP anomaly to the north-east of the main Racecourse porphyry, intersected sporadic copper mineralisation up to 0.19% Cu.