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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Kharmagtai | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 10/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Kharmagtai deposit at the Kharmagtai project. Drilling results incl. 411.6m @ 0.54% Cu, 0.79g/t Au from 0m. Well‐funded copper-gold exploration company, Xanadu Mines Ltd | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Well‐funded copper-gold exploration company, Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”), is pleased to report further success with its accelerated exploration programme at Kharmagtai (Figure 1). 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 continue to be encouraged by the results of our ongoing extensional resource drilling around the established resources at Kharmagtai. Hole KHDDH421, successfully confirmed our interpretation of a shallow west-northwest plunge to a high‐grade zone of copper and gold mineralisation at depth. We are excited that our systematic drilling programme has again confirmed that there is real potential for significant extensions to the Resources. Detailed paragenetic and structural work has defined the critical controlling structures and drilling continues to target additional high-grade off-sets with further results from Copper Hill expected in November.” Drill hole KHDDH421 targeted the down-plunge extensions of Copper Hill deposits and has returned significant intercepts below a depth of 200m (Tables 1 and 2; Figures 2 to 4). It is believed that the deeper intercept of 112m @ 0.49% Cu and 0.48 g/t Au (0.8% eCu) from 224m including 38m @ 0.71% Cu and 0.48g/t Au (1.01% eCu) from 292m, was a near miss to the high-grade depth extensions of Copper Hill (Figure 5). This hole has added substantial confidence to the structural and geological modelling. Further drilling is underway and results will be released in November. | |
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