Source - SMW
Mining group Xtract Resources said it had agreed to acquire ProsepectOre, the owner of the Bushranger copper-gold project in Australia, for £1.25m in shares.

Bushranger was located in the Lachlan Fold belt in New South Wales state.

Extract said several geophysical and geochemical targets, with characteristics of porphyry style mineralisation, were ready for drill testing.

'This acquisition represents entry into an asset with an inferred resource of over 350,000 tonnes of contained copper,' executive chairman Colin Bird said.

'The deposit is open ended in both directions and the propensity for future discovery is good.'

At 1:08pm: (LON:XTR)  Xtract Resources Plc  share price was +0.1p at 1.53p

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