West Perth, WA / January 24, 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 copper and gold mineralisation along strike and below the current resources (Figure 3).
Xanadu’s MD & CEO, Dr Andrew Stewart, said “We believe Kharmagtai represents one of the most promising copper and gold discoveries being explored globally at present. Recent step-out drilling around the maiden shallow resources at Copper Hill, Stockwork Hill and White Hill has delivered some exceptional results. This new drilling has defined significant extensions to high-grade mineralisation at all three deposits, which is sure to extend resources. With the expansion of the drilling fleet at Kharmagtai to four drill rigs, we plan to maintain our dual drill strategy of expanding known mineralisation through exploration of tourmaline breccia hosted mineralisation below and along strike from the current resources and drill test all shallow high-priority porphyry copper-gold and gold targets undercover.”
Highlights
- Stockwork Hill drilling confirms high-grade extensions
- KHDDH436 intersected 252.2m @ 0.34% Cu and 0.49g/t Au (0.65% eCu) from 632.2m
- incl 135.8m @ 0.47% Cu and 0.75g/t Au (0.95% eCu) from 632.2m;
- incl 36m @ 0.67% Cu and 0.97g/t Au (1.29% eCu) from 684m;
- KHDDH436 intersected 252.2m @ 0.34% Cu and 0.49g/t Au (0.65% eCu) from 632.2m
- Copper Hill deposit showing growth potential of high-grade core at depth
- KHDDH434 intersected 329.5m @ 0.42% Cu and 0.46g/t Au (0.71% eCu) from 2.5m
- incl 55m @ 1.15% Cu and 1.81g/t Au (2.3% eCu) from 132m;
- and 46.7m @ 0.48% Cu and 0.53g/t Au (0.82% eCu) from 228
- KHDDH434 intersected 329.5m @ 0.42% Cu and 0.46g/t Au (0.71% eCu) from 2.5m
- White Hill step-out drilling returns broad zone of new mineralisation
- Drilling continues to target extensions of high-grade copper and gold mineralisation
- New magnetic data analysis aids undercover targeting and highlights three large targets
- Significant ramp-up of drilling at Kharmagtai with four drill rigs currently active
