West Perth, WA / February 26, 2018 / JMN Wire / Xanadu Mines Ltd (ASX: XAM) (“Xanadu” or “Company”) is pleased to provide an update on exploration activities currently being undertaken at its flagship Kharmagtai copper and gold project located in the South Gobi region of Mongolia (Figures 1 and 2). The accelerated exploration programme continues to target extensions of high-grade copper and gold mineralisation along strike and below the current resources (Figure 3).
Xanadu’s MD & CEO, Dr Andrew Stewart, said: “What really sets our geology team apart from other explorers is our porphyry copper expertise, which is demonstrated in this new round of results where extensional drilling has significantly increased the footprint of the Kharmagtai porphyry system and where we continue to add high grade tonnes to the existing resource. We are particularly excited in the latest scout drilling at Target 19 where we have intersected broad zones of new copper porphyry mineralisation 1.5 kilometres west of the large White Hill deposit. This could provide another shallow, low strip ratio discovery within the district.”
Highlights
- Stockwork Hill Deposit
- New drilling confirms high-grade extensions below the current resource with KHDDH448 returning:
- Increasing bornite mineralisation down hole indicates drilling is nearing the higher-grade core of deposit
- Stockwork Hill and White Hill systems begin to coalesce at depth significantly increasing resource potential.
- Newly Drilled Target 19 returns significant porphyry mineralisation
- Drilling of Target 19 confirms new shallow porphyry copper discovery 1.5 km west of White Hill KHDDH435 returned 213.4m @ 0.23% Cu & 0.17g/t Au (0.34% eCu) from 86m: including 130.3m @ 0.29% Cu & 0.22g/t Au (0.43% eCu) from 130m including 16m @ 0.47% Cu & 0.39g/t Au (0.72% eCu) from 200m
- Mineralisation at Target 19 remains completely preserved at depth indicating significant resource potential
- Results continue to confirm the Kharmagtai project as a district scale trend with potential to host further significant copper-gold discoveries.
- Red Mountain Project
- Exploration drilling of high-grade gold and copper targets at Red Mountain to resume in March.
