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Xanadu Mines Ltd.
Summary
| Project: | Oyut Ulaan | |
|---|---|---|
| Deposit: | Oyut Ulaan | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 7/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-7-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Oyut Ulaan deposit at the Oyut Ulaan project. Drilling results incl. 79.5m @ 0.21g/t Au, 0.26% Cu from 198.5m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is plea | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to announce that diamond drill hole OUDDH089 at its 90% owned Oyut Ulaan copper-gold project has intersected a significant zone of high-grade massive sulphide mineralisation within a broad zone (up to 79.5m) of porphyry-related alteration and mineralisation (Figure 1). The 6.2m wide zone of massive sulphide mineralisation at Target 10 returned 4.24% Cu and 1.9g/t Au (5.45% CuEq) from a depth of 128m and included 0.9m grading 22.10% Cu and 8.27g/t Au (27.37% CuEq) from 129m. The intercept resulted from systematic drill testing of high priority targets lying under shallow cover within the Oyut Ulaan project. This high-grade porphyry-related massive sulphide mineralisation is open in all directions (Figure 2). Xanadu’s Chief Executive Officer, Dr Andrew Stewart, said “We are very encouraged by the intersection of massive sulphide mineralisation associated with the upper part of a zone of porphyry related mineralisation. The recent drilling represents the highest-grade copper mineralisation discovered to date within the Oyut Ulaan project and support Xanadu’s interpretation that the Oyut Ulaan district has the potential to be a significant copper-gold system”. Additionally, diamond drill hole OUDDH088 at the Tourmaline Breccia prospect which was designed to test the eastern strike extension to high-grade mineralisation (refer to ASX release dated 9 June 2016) and continuity of breccia mineralisation, intersected 66m of continuous tourmaline breccia from surface. This broad interval included 19m grading 4.15% Cu from a depth of 20.4m of high-grade chalcocite-chalcopyrite cemented breccia (Figure 3). Mineralisation remains open at depth and to the southwest and northeast (Figure 4). | |
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