Name of the Mine
Silverking mine.

Location  
Mumbwa district, Central Province, Zambia. 

Mine Owner/s  
Silverking Mining Joint Venture. Oval Mining is the mining licence holder and operator; Xtract Resources holds 35%; and Cooperlemon Consultancy is the project stakeholder. Xtract also holds 70% of the separate Silverking Exploration Joint Venture.

Brief Description  
Silverking is an early-stage producing copper/silver operation exploiting near-surface oxide and sulphide mineralisation from the historic Silverking breccia pipe. Initial production started in July 2026, establishing Silverking as Xtract's first producing copper asset in Zambia. Mixed oxide-sulphide run-of-mine ore is processed through the joint venture's flotation plant, which is being commissioned and progressively ramped up. The operator is targeting an optimised throughput of 28 t/h and a copper concentrate grade of about 28%.

Brief History  
The historic Silverking mine was established in the 1890s and is recognised as one of Zambia's earliest copper mines, although detailed production records are unavailable. Local artisanal mining continued after the early operation. 
Glencore International, operating locally as Mopani Copper Mines, resumed strategic exploration in 2012 and intersected high-grade copper and silver at the main breccia pipe, but did not advance the project. 

Xtract completed two drilling phases in 2025, materially expanding the known mineralised footprint. In February 2026, Xtract entered the mining joint venture with Oval Mining and Cooperlemon. Openpit development, plant construction and commissioning followed, with initial concentrate production announced on July 9, 2026.

Primary Metals/Minerals  
Copper.

Secondary Metals/Minerals  
Silver.

Geology/Mineralisation  
Silverking lies in a region considered prospective for iron oxide/copper/gold mineralisation. 

The mine’s mineralisation is characterised by deep levels of intense oxidation, breccia, vein and stockwork hosted copper mineralisation and is distinguished by high-grade supergene enrichment, also diagnostic of the nearby Kitumba deposit.

Modelling identifies a bornite-rich vertical core from about 60 m to at least 140 m depth, enclosed by a chalcopyrite-rich envelope about 200 m × 110 m and projected to about 170 m depth. Chalcocite-bornite vein systems crosscut the main body, while oxide-sulphide mineralisation extends from surface to about 60 m over the deposit centre and to 135 m north-west of the core. Mineralisation remains open at depth. A second, subparallel mineralised body has been identified at the Kopje prospect.

Reserves  
None confirmed.

Resources  
No publicly reported Joint Ore Reserves Committee-compliant mineral resource estimate is stated. 

Drilling has confirmed high-grade copper/silver mineralisation over more than 260 m of strike and downhole widths of up to 25 m. Reported intersections include 24.1 m grading 5.99% copper and 40.2 g/t silver, 29.7 m grading 4.15% copper and 42.9 g/t silver, and 54.1 m grading 3.18% copper and 40.3 g/t silver.

Type of Mine
Operating openpit, with an underground mine planned.

Mining Method  
Near-surface ore is being extracted from an openpit using drilling and blasting. Xtract plans to develop a decline to about 140 m below surface to access the high-grade sulphide core, leaving a crown pillar between the openpit and underground workings. Final underground mine planning will be informed by deeper drilling, which is planned to test mineralisation to about 350 m vertical depth.

Major Infrastructure/Equipment  
Infrastructure includes the openpit and associated earthworks; road access; worker accommodation; connections to government power; a flotation plant upgraded to target 28 t/h; and a tailings facility. The plant is treating mixed oxide-sulphide ore. Oxide ore can also be treated at a nearby plant, while sulphide ore is intended for the joint venture's own plant.

Prospects  
Production is being progressively ramped up as mining advances towards a higher proportion of sulphide ore and plant commissioning transitions towards sustained operation. Xtract plans deeper drilling to test the open depth extension of the main body and support the proposed decline. 

Contact Details 
Xtract Resources Plc
Tel +44 20 3416 6471
Email info@xtractresources.com
Website https://xtractresources.com/