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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Copper Hill | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 9/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Copper Hill deposit at the Kharmagtai project. Drilling results incl. 180m @ 1.84g/t Au, 0.95% Cu from 0m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased t | |
| 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 provide an update on the accelerated exploration programme at Kharmagtai (Figure 1), where drilling is targeting near-surface porphyry copper-gold deposits and the continuity of mineralisation below the current resources within this largely under-explored porphyry copper-gold district. Xanadu’s MD & CEO, Dr Andrew Stewart, said “We are very encouraged by these results. The Company has spent a considerable amount of time and resources building an extremely comprehensive geological, geochemical and geophysical dataset in three dimensions. Painstaking as this base data gathering was, the early results are bearing fruit. We completed property wide drilling through shallow cover to gather core samples for geology and geochemistry and on top of our high resolution magnetic survey have recently complete a very close spaced gravity survey. These techniques have provided us with many excellent shallow targets to drill and a much better understanding of previous high grade areas where we are now targeting extensions.” “We have three rigs drilling at present to test shallow targets for the discovery of new porphyry centres and to extend high grade areas. We are planning a steady stream of news flow as we carry out this accelerated programme and these early results provide us with confidence in the fact that we spent the time to collect and interpret the extensive datasets to refine our targeting.” | |
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