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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Kharmagtai | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 3/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-3-2019: Xanadu Mines Ltd. announces a Resource Estimation report for its Kharmagtai deposit at the Kharmagtai project. Exploration Targets for project. Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (“Xanadu” or “the Company”) is pleased to report that prelimin | |
| 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 preliminary testwork on diamond core from shallow oxide gold mineralisation at the Kharmagtai copper-gold project in Mongolia has returned excellent results (Figure 1). Gold mineralisation at Golden Eagle is hosted in the oxide cap above a deeper and significantly larger copper-gold porphyry (Xanadu’s ASX announcement – 16 January 2017). A new Exploration Target and metallurgical tests confirm the presence of significant, leachable oxide gold at Golden Eagle, one of eight zones known to contain significant shallow oxide gold mineralisation. A review of the shallow gold potential of the Kharmagtai lease has been conducted with the aim of assessing the potential for a low-cost, high-value gold project to deliver cash into the early stages of a larger scale copper-gold development. Eight gold targets across the lease have been reviewed in detail and exploration targets developed for each of these prospects. This work informs a decision point for drilling and further metallurgical work. These targets include sparsely drilled oxide gold above the existing resources at Copper Hill and Stockwork Hill, oxide gold potential above Golden Eagle, disseminated free gold and electrum within Golden Eagle and numerous carbonate base metal epithermal gold veins previously drilled while targeting porphyry mineralisation (Table 8). The location of each target is summarised in Figure 5. | |
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