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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Stockwork Hill | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 9/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-9-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Stockwork Hill deposit at the Kharmagtai project. Drilling results incl. 234m @ 1.04g/t Au, 0.57% Cu from 466m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is ple | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to provide an update on its ongoing exploration programme at Kharmagtai (Figures 1 and 2), where drilling is targeting extensions of high-grade coppergold mineralisation adjacent to and beneath the current resources. Xanadu’s MD & CEO, Dr Andrew Stewart, said “The quality of Kharmagtai continues to be demonstrated by these positive drill results. The latest drilling, which is targeting high-grade mineralisation at Stockwork Hill, reaffirms our belief in the potential for this mineral system to host a large scale high-grade copper-gold deposit. The Stockwork Hill discovery remains open in virtually all directions.” “What really excites our geology team is that the host breccia contains fragments of mineralised porphyry providing strong evidence of a deeper undiscovered porphyry system below these targets. While the increasing presence of bornite sulphide mineralisation indicates we are getting closer to the core of the system. We look forward to drilling beneath the zone of chalcopyrite-gold breccia mineralisation testing for the breccia complex transition downward into another mineralised porphyry at depth.” Current drill holes KHDDH418 and KHDDH419 both intersected broad zones of mineralisation outside the current resource at Stockwork Hill (Figure 3). Diamond drill hole KHDDH418, designed to test the northern (down-dip) extension to high-grade mineralisation and continuity of breccia mineralisation, intersected 600m of continuous tourmaline breccia from 323m, which contained 210m of mineralisation grading 0.36% Cu and 0.38/t Au (0.60 CuEq) from 333m (Figure 3). This broad interval included 102m of high-grade chalcopyrite cemented breccia grading 0.53% Cu and 0.56g/t Au (0.88 CuEq) from 385m (Figure 4). The results indicate that discrete zones of higher-grade mineralisation continue several hundred metres below the current Resource and that mineralisation remains open at depth and in several directions. | |
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