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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Kharmagtai | |
| Location: | Mongolia | |
| Commodities: | Gold | |
| Date: | 3/10/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-3-2020: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Kharmagtai deposit at the Kharmagtai project. Drilling results incl. 117.0m @ 0.58g/t Au, 0.68% Cu from 555m. Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (“Xanadu” or “the Comp | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (“Xanadu” or “the Company”) is pleased to report that diamond drill hole KHDDH526, located to the immediate east of the Stockwork Hill deposit on the Company’s Kharmagtai porphyry copper and gold project in the south Gobi region of Mongolia (Figures 1 and 2), has intersected a significant new zone of mineralisation outside the defined resources. This new discovery significantly increases the potential strike of the Stockwork Hill Deposit. Three drill holes have been completed at Stockwork Hill; all holes were designed to extend the known high-grade mineralisation. KHDDH525 was planned to bring the recently discovered bornite zone at Stockwork Hill towards surface (refer to Xanadu’s ASX/TSX announcement dated 28 February 2019; Targets 1 and 2 in Figure 3). This hole has encountered a shallow zone of bornite at 193m which is encouraging. The main zone of mineralisation was encountered between 600m and 900m and assays are pending. KHDDH526 was planned to extend the high-grade tourmaline breccia zone at Stockwork Hill to the east of Billy’s Basalt Shear, the previous limit to mineralisation (Target 3 in Figure 3, 4 and 5). Three key observations highlighted the potential for a significantly larger zone of tourmaline breccia at Stockwork Hill. | |
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