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Xanadu Mines Ltd.
Summary
| Project: | Oyut Ulaan | |
|---|---|---|
| Deposit: | Oyut Ulaan | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 6/30/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-6-2016: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Oyut Ulaan deposit at the Oyut Ulaan project. Drilling results incl. 9.5m @ 21.06g/t Au, 0.16% Cu from 0m. Xanadu Mines Ltd (ASX: XAM – “Xanadu”) is pleased to announce t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Xanadu Mines Ltd (ASX: XAM – “Xanadu”) is pleased to announce that a broad spaced reconnaissance diamond drilling program was successfully completed at its Oyut Ulaan project located within the Dornogovi Province of southern Mongolia (Figure 1). The objective of this first pass diamond drilling program was to test the continuity and thickness of gold mineralisation immediately below previously reported surface trenching (see Xanadu’s ASX announcements – 18 April 2016, 28 April 2016 and 9 June 2016). The small program tested four areas of gold mineralisation identified by trenching that occur within a large area of prospective mineralisation that is 4.5km long and 300m wide (Stockwork Zone, Bavuu Zone, Diorite Zone and Hulan Zone; Figures 2 and 3). Newly completed diamond drill hole OUDDH043 at the Diorite Prospect intersected 9.5m grading 21.06 g/t Au from surface which included 3m grading 47 g/t Au from a depth of 2m in within a discrete sub-vertical structure hosting hematitic-quartz veins with coarse visible gold (Figure 4 and 5). Follow-up diamond drill hole OUDDH044 intersected 6m grading 15.43 g/t Au from surface. Two new diamond drill holes at the Stockwork Zone, OUDDH045 and OUDDH46 both intercepted significant intervals of gold mineralisation hosted by pyritic quartz veins, which occur as multiple stacked arrays. To intersect gold mineralisation at all the holes drilled into the four Prospects is considered a significant success. | |
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