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Xanadu Mines Ltd.
Summary
| Project: | Red Mountain | |
|---|---|---|
| Deposit: | Red Mountain | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 2/23/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-2-2018: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Red Mountain deposit at the Red Mountain project. Technical report of the property including exploration. This is an independent technical report on Xanadu Mines Ltd’s (“ | |
| Resources: | x | |
| CP/QP: | [Overall Report]: James H Lally, Rodney W Graham (Mining Associates Pty Ltd.) | |
| ABSTRACT: | This is an independent technical report on Xanadu Mines Ltd’s (“Xanadu”) Red Mountain property (“Red Mountain” or “the Property”) in Mongolia prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI43-101). Red Mountain is located in the Omnogovi Province, or aimag of Mongolia approximately 400 km south of Ulaanbaatar and 200 km north of the Chinese border. 90% of Red Mountain is owned by Xanadu’s subsidiary company, Vantage LLC, with the remaining 10% held by a privately owned Mongolian company. The region contains several major mineral deposits such as Oyu Tolgoi, Tsagaan Suvarga and Kharmagtai, as shown in the figure below. With the exception of Kharmagtai, Mining Associates is unable to verify the information on these deposits. The information is not necessarily indicative of the mineralization on the Red Mountain property that is the subject of this technical report. Mineral exploration at Red Mountain commenced in the 1960s, with joint Russian-Mongolian teams undertaking regional assessment of the South Gobi. Reconnaissance work defined outcropping mineralization and some evidence of ancient workings (pitting and slag). In 2003 Ivanhoe Mines Mongolia (IMMI) acquired the Property and undertook extensive exploration including geological mapping and rock-chip sampling (1957 grab samples). Based on encouraging results IMMI drilled sixteen shallow diamond drill holes (4041 m) targeting outcropping mineralization at Stockwork Porphyry, Diorite Porphyry and Breccia Pipe prospects (Wilson et al, 2003). | |
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