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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Stockwork Hill | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 10/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-10-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Stockwork Hill deposit at the Kharmagtai project. Drilling results incl. 294m @ 0.47% Cu, 0.85g/t Au from 466m. Well‐funded copper and gold exploration company, Xanadu M | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Well‐funded copper and gold exploration company, Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to provide complete assay results for diamond drill holes KHDDH418 and KHDDH419 from the Stockwork Hill deposit at Kharmagtai (see Xanadu’s ASX announcement – 18 September 2017; Figures 1 and 2), where drilling has successfully identified extensions of high-grade mineralisation along strike and below the current resource. The Stockwork Hill deposit consists of composite porphyry intrusions hosting high-grade gold-rich porphyry copper mineralisation approximately 800m long, 400m wide and extending to a depth of at least 600m (Figure 3). Diamond drill holes KHDDH418 and KHDDH419 have confirmed the discovery of two new zones of mineralisation which are outside the current resource at Stockwork Hill. Drill hole KHDDH418 targeted offset copper-gold mineralisation referred to as the Northern Step-down Target. KHDDH418, intersected 76m of continuous stockwork mineralisation (Figure 3 and 4) from a depth of 585m grading 0.50% Cu and 0.44g/t Au (0.78% eCu), which included 34m @ 0.6% Cu and 0.75g/t Au (1.13% eCu) from 621 (Tables 1 and 2). A strongly mineralised diorite intrusion encountered in the lower portion of KHDDH418 and below the External Scrutinizer Fault confirms the Northern Stockwork zone of the Stockwork Hill Deposit extends approximately 200m to the north of current resource model. | |
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