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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | White Hill | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-11-2017: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its White Hill deposit at the Kharmagtai project. Drilling results incl. 850m @ 0.20g/t Au, 0.32% Cu from 0m. Well‐funded copper-gold exploration company, Xanadu Mines Ltd ( | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Stewart (Internal) | |
| ABSTRACT: | Well‐funded copper-gold exploration company, Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to provide complete assay results for diamond drill hole KHDDH430 from the White Hill deposit at Kharmagtai (Figures 1 and 2) where drilling is targeting extensions of copper and gold mineralisation along strike and below the current resources. Xanadu’s MD & CEO, Dr Andrew Stewart, said “We are excited by this new drilling beneath the maiden White Hill resource as it has extended the zone of mineralisation but more significantly, it has intersected bornite and extensive potassic alteration which could be the precursor to the discovery of a higher-grade system adjacent to the established resources”. New geological interpretations of the White Hill deposit have identified a zone of undrilled down-dip mineralisation which could add a significant volume of mineralisation to the Kharmagtai resource base. Drill hole KHDDH430 was designed to expand mineralisation south of, and down-dip of the current resource. This hole has added over 380m of previously unknown mineralisation. Importantly, this new zone of mineralisation is higher-grade than the majority of mineralisation within White Hill. 3D magnetic inversions at White Hill show a compelling picture of a deep seated magnetic anomaly, interpreted to be a mineralised polyphase intrusive stock, feeding the shallower mineralisation at White Hill (Figure 6). Further drilling is underway to test for high grade bornite mineralisation within the potassic zone beneath White Hill. | |
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