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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Zaara | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 6/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-6-2018: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Zaara deposit at the Kharmagtai project. Drilling results incl. 750m @ 0.22% Cu, 0.18g/t Au from 340m. 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 a drilling update for 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 pleased with the rapid progress at the new Zaraa copper-gold discovery. While Zaraa is in the early stages of exploration we have already defined a significant sized body of mineralisation and work will continue to expand this exciting new discovery. These latest high-grade results at depth combined with our recent discovery of the near-surface expression of the of the system where it was expected, validates our undercover targeting methods and the importance of these techniques as key exploration tools in unlocking the potential of the large porphyry district. With a significant drop in the head-grade of operating copper mines, the looming supply-demand gap and the lack of advanced copper projects we believe Kharmagtai to be the most attractively valued gold project globally. The current diamond drill program will now focus on delineating the near surface oxide gold enrichment zone and target the highest-grade primary portions of this new Zaraa porphyry system.” | |
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