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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Kharmagtai | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 7/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-7-2018: Xanadu Mines Ltd. announces a Supporting Acquisition report for its Kharmagtai deposit at the Kharmagtai project. Summary of property in support of TSX listing. This is an independent technical report on Xanadu Mines Ltd’s (“Xanadu”) Kharmagtai | |
| Resources: | (Resource): 46Mt @ 0.42% Cu, 0.51g/t Au (Ind.), 157Mt @ 0.32% Cu, 0.28g/t Au (Inf.) | |
| CP/QP: | [Resources]: Andrew Vigar (Mining Associates Pty Ltd.) | |
| ABSTRACT: | This is an independent technical report on Xanadu Mines Ltd’s (“Xanadu”) Kharmagtai property (“Kharmatgai” or “the Property”) in Mongolia prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Kharmagtai is located in the Omnogovi Province of southern Mongolia, approximately 420 km southeast of the capital, Ulaanbaatar. 90% of Kharmagtai is owned by Xanadu’s joint venture company, Mongol Metals LLC. Through expenditure, Xanadu has earned 85% of Mongol Metals LLC, equal to a 76.5% beneficial interest in the whole Property. This area of Mongolia contains several major mineral deposits as shown in the figure below. Mining Associates is unable to verify the information on these deposits shown below and the information is not necessarily indicative of the mineralization on the Kharmagtai property that is the subject of this technical report. Copper mineralization was first recognised at Kharmagtai by Russian-Mongolia exploration teams in 1979 and a limited programme of surface trenching and diamond core drilling followed. Exploration by QGX (previously Quincunx) in the late 1990’s identified copper-gold mineralization at three main centres: Stockwork Hill, White Hill and Copper Hill. Ivanhoe Mines Mongolia (IMMI) joint ventured into the project in 2002. Between 2002 and 2006 IMMI carried out extensive surface geochemistry and geophysics, excavated 119 trenches (65,636 m) and drilled 208 RC (27,747 m) and 172 diamond drill holes (54,269 m). This work defined Mineral Resources at Stockwork Hill, White Hill and Copper Hill. Between 2007 and 2011 Asia Gold (AGC: a subsidiary of Ivanhoe) assumed control of | |
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