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Xanadu Mines Ltd.
Summary
| Project: | Kharmagtai | |
|---|---|---|
| Deposit: | Zephyr, Zaara | |
| Location: | Mongolia | |
| Commodities: | Copper-Gold | |
| Date: | 4/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-4-2018: Xanadu Mines Ltd. announces an Exploration/Drilling Update report for its Zephyr, Zaara deposit at the Kharmagtai project. Drilling results incl. 785.9m @ 0.12g/t Au, 0.21% Cu from 2m. Xanadu Mines Ltd (ASX: XAM – “Xanadu” or “Company”) is plea | |
| 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 review of recent exploration activities at its flagship Kharmagtai copper and gold project located in the South Gobi region of Mongolia (Figures 1 and 2), where drilling is targeting additional porphyry copper-gold deposits under shallow cover. .Xanadu’s Executive Director & Chief Executive Officer, Dr. Andrew Stewart, said “We have started 2018 with very strong exploration results. Significant high-grade extensions have been added to the existing resources and our ever-improving understanding of the undercover geology at Kharmagtai has resulted in several new discoveries. We have now tested eight of the 19 large-scale porphyry targets recently identified and five have produced significant intervals of porphyry alteration and mineralisation. Zaraa represents the latest target tested and we are extremely excited by the first diamond drill results. It is a new porphyry centre and early indications are the system has the grade and scale to represent a significant new discovery.” “Our strategy is clear: the best way to add tonnes and grade to the existing resources is by discovering additional high-grade deposits within the Kharmagtai Licence Area. With four rigs currently drilling around the clock we are delivering on this strategy and the discovery of Zaraa reinforces the amazing exploration potential of the Kharmagtai porphyry district.” | |
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