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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Altan Burged | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 1/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Altan Burged deposit at the Kharmagtai project. Drilling results incl. 220m @ 0.64g/t Au, 0.15% Cu from 42m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is please | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to announce that the first diamond drill hole following up shallow bedrock drilling has discovered a new porphyry named Altan Burged (Golden Eagle) within the Kharmagtai copper-gold district, in the South Gobi region of Mongolia (Figure 1), by intersecting a broad zone of near surface gold-rich porphyry copper mineralisation. Diamond drill hole KHDDH395 intersected 220m grading 0.64g/t Au and 0.15% Cu from 42m, which includes a shallow zone of supergene gold enrichment of 26m grading 2.27g/t Au from a depth of 42m. The newly discovered Altan Burged porphyry is located approximately 2.5km east of the Altan Tolgoi, Tsagaan Sudal and Zesen Uul copper-gold deposits. The gold-rich Altan Burged porphyry was discovered in December 2016 as part of the highly successful bedrock drilling programme (see Xanadu’s ASX announcement – 22 December 2016). The intersection in KHDDH395 represents a significant development for Xanadu’s ongoing exploration efforts within the Kharmagtai district. While exploration of this emerging porphyry centre is still at an early stage, the width, intensity of alteration and porphyry stockwork mineralisation and tenor of the gold mineralisation intersected is very encouraging. | |
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