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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Zaara | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 5/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-5-2018: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Zaara deposit at the Kharmagtai project. Drilling results incl. 606m @ 0.32g/t Au, 0.36% Cu from 458m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is pleased to pr | |
| 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 drilling results from the new Zaraa porphyry discovery at its flagship Kharmagtai copper and gold project located in the South Gobi region of Mongolia (Figures 1 and 2) Xanadu’s Managing Director & Chief Executive Officer, Dr Andrew Stewart, said “We are extremely excited by the first drill hole into the Zaraa porphyry discovery. This drill hole has intersected over 800 metres of near-continuous copper and gold mineralisation making it the longest exploration drill intercept of gold and copper mineralisation recorded since Xanadu began drilling at the Kharmagtai Project in 2014. Drill hole KHDDH462 extends the Kharmagtai mineralised system and demonstrates yet again the incredible potential to add to the presently defined copper and gold resources. While Kharmagtai already is one of the world's most exciting new copper and gold discoveries, hole KHDDH462 is consistent with our long-held view that the Kharmagtai mineralised system contains significantly more gold and copper than we have delineated to date under JORC standards. We are particularly pleased to see this outstanding intersection in hole KHDDH462, right where our geological modelling predicted. “Our strategy is clear: to add tonnes and grade to the existing resources by discovering additional high-grade deposits within the Kharmagtai Cu-Au project. With our aggressive and systematic drill program we are delivering on this strategy. The discovery of Zaraa reinforces the exploration potential of the Kharmagtai porphyry district.” | |
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