en.Wedoany.com Reported - London-listed company Xtract Resources Plc ("Xtract") announced on July 9, 2026, that it has officially commenced initial production at the Silverking copper-silver project in Mumbwa District, Central Province, Zambia. The project is operated through a joint venture with Oval Mining Limited and Cooperlemon Consultancy Limited, which hold a small-scale mining license.
According to the company's disclosure, joint venture partner Oval Mining, as the operator, has begun processing mixed oxide-sulfide ore through the joint venture's flotation plant. Oval recently upgraded the plant to increase capacity, with a target optimized throughput of 28 tons per hour. The fifth blast at the open pit has been completed. In terms of run-of-mine grades, copper grades in the upper zone of the ore body range from 0.80% to 1.1%, while silver grades range from 11 grams per ton to 68 grams per ton. Concentrate grades currently fluctuate between 20% and 35% copper content, with a target optimized grade of 28%. Reagent optimization is ongoing to stabilize concentrate grades and improve overall copper recovery.
The geological model of the Silverking deposit is based on 895 diamond core samples, 131 trench section analyses, and 281 blast hole section analyses. Drilling has delineated a high-grade bornite vertical pillar extending from a depth of 60 meters to at least 140 meters, surrounded by a chalcopyrite halo expected to extend to approximately 170 meters depth. Two major chalcocite-bornite vein systems crosscut the main ore body, with potentially mineable widths. Mineralization remains open at depth, with drill hole SKIDD018 intercepting a 4-meter section grading 7.67% copper and 63.5 g/t silver at 228 meters, supporting plans for further drilling to approximately 350 meters vertical depth. The company is evaluating a decline option based on the internal deposit model to access the deep high-grade core area.
Xtract Resources Executive Chairman Colin Bird expressed his great satisfaction with the successful start of operations at the Silverking project and the production of the first concentrate. He noted that production is ramping up, and the plant's demonstrated ability to recover oxides is encouraging. The team is continuing reagent optimization work to improve overall copper recovery.
As an early-stage mining operation, the Silverking project still faces operational risks in terms of plant performance and ore grades. Steady-state production levels cannot be guaranteed until optimization is complete. The commencement of initial production marks an important step in Xtract Resources' strategic positioning in Zambia's copper belt. With the continued progress of open-pit mining and plant commissioning, the project is expected to add a new source of supply to the global copper supply chain.
