https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sun, 21 Oct 2018 19:03:09 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Xanadu Mines to list today on the Toronto Stock Exchange ]]> https://www.proactiveinvestors.com.au/companies/news/207326/xanadu-mines-to-list-today-on-the-toronto-stock-exchange-207326.html Xanadu Mines Ltd (ASX:XAM) (FRA:02X) (TSX:XAM) will start a new era as its securities begin trading today on the Toronto Stock Exchange with first toll of the bell in Canada.

The company views the listing as a milestone and expects the move will bolster its international profile and understanding of its potential in North America.

READ: Xanadu Mines directors demonstrate confidence in company’s Mongolian copper-gold strategy

Xanadu managing director & CEO Dr Andrew Stewart said: ”We are very pleased to be listed on the TSX now, as well as the ASX, as it will allow the company to develop a broader awareness of our significant porphyry copper-gold discovery in Mongolia’s south Gobi on two of the best resource exchanges globally.

“The listing constitutes an important milestone for Xanadu, providing a local trading platform for existing and new Canadian shareholders and investors.

“The listing will further build the profile of the Company and understanding of its potential among North American investors.”

READ: Xanadu Mines commences drilling to boost project economics

The listing comes at a busy time for Xanadu.

Stewart said: “Our TSX Listing is timely given the substantial amount of activity planned, including the resource upgrade and preliminary economic assessment on our Kharmagtai Project which is due quarter 4, 2018.”

READ: Xanadu Mines attracts $10 million for copper-gold project in Mongolia

Kharmagtai is in the prolific South Gobi region which also hosts the Oyu Tolgoi Copper-Gold Project where open-pit mining is being carried out and the large underground mine is in development.

Xanadu’s flagship Kharmagtai project is one of the most promising porphyry copper-gold projects in Asia and hosts three porphyry deposits within a largely under-explored porphyry copper-gold district.

Kharmagtai has a JORC-compliant resource of 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

Xanadu also has an expanding portfolio of exploration projects, including Red Mountain in the south and Yellow Mountain in the north.

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Wed, 17 Oct 2018 19:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207326/xanadu-mines-to-list-today-on-the-toronto-stock-exchange-207326.html
<![CDATA[News - Xanadu Mines director supports copper-gold strategy with on-market purchase ]]> https://www.proactiveinvestors.com.au/companies/news/205002/xanadu-mines-director-supports-copper-gold-strategy-with-on-market-purchase-205002.html Xanadu Mines Ltd (ASX:XAM) director Hannah Badenach has demonstrated his confidence in the company’s Mongolian copper-gold strategy by acquiring shares on-market.

The acquisition of 100,000 shares valued at $12,500 has increased Badenach’s total shareholding to 1,410,738 shares (indirect interest).

Xanadu controls one of the most promising porphyry copper-gold projects in Asia with the Kharmagtai Copper-Gold Project in Mongolia’s South Gobi region.

 

It also has an expanding portfolio of exploration projects including Red Mountain in the south and Yellow Mountain in the north.

Kharmagtai is the flagship asset which hosts a JORC-compliant resource of 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

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Mon, 17 Sep 2018 17:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205002/xanadu-mines-director-supports-copper-gold-strategy-with-on-market-purchase-205002.html
<![CDATA[News - Xanadu Mines directors demonstrate confidence in company’s Mongolian copper-gold strategy ]]> https://www.proactiveinvestors.com.au/companies/news/203736/xanadu-mines-directors-demonstrate-confidence-in-companys-mongolian-copper-gold-strategy-203736.html Xanadu Mines Ltd (ASX:XAM) directors Andrew Stewart and Darryl Clark have demonstrated their confidence in the company’s Mongolian copper-gold strategy by purchasing shares on-market.

Managing director and CEO Stewart has acquired 137,000 shares worth more than $19,860 and now holds more than 4.292 million shares.

Independent non-executive director Clark has purchased 200,000 shares for a total value of $25,000 and now holds more than 1.921 million shares.

 

Xanadu controls one of the most promising porphyry copper-gold projects in Asia with the Kharmagtai Copper-Gold Project in Mongolia’s South Gobi region.

It also has an expanding portfolio of exploration projects including Red Mountain in the south and Yellow Mountain in the north.

Kharmagtai is the flagship asset which hosts a JORC-compliant resource of 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

READ: Xanadu Mines commences drilling to boost project economics

Xanadu has recently started infill and resource definition drilling designed to increase the resource estimate in order to support project development.

The updated resource will be used to complete a preliminary economic assessment (PEA), expected to be released early in the December quarter.

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Wed, 29 Aug 2018 08:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203736/xanadu-mines-directors-demonstrate-confidence-in-companys-mongolian-copper-gold-strategy-203736.html
<![CDATA[News - Xanadu Mines commences drilling to boost project economics ]]> https://www.proactiveinvestors.com.au/companies/news/203349/xanadu-mines-commences-drilling-to-boost-project-economics-203349.html Xanadu Mines Ltd (ASX:XAM) has commenced infill and resource definition drilling at its Kharmagtai Copper Gold Project in the South Gobi region of Mongolia.

Drilling is designed to significantly increase the JORC resource estimate in order to support project development.

The updated resource will be used to complete a preliminary economic assessment (PEA), expected to be released early in the December quarter.

READ: Xanadu Mines’ drill result brings Zaraa copper-gold deposit closer to open pit range

Xanadu’s managing director and CEO Dr Andrew Stewart said: “Following the very significant discovery of the fourth porphyry centre at Zaraa, we believe the Kharmagtai project is approaching a near-term development opportunity and it’s now time to take the Kharmagtai project to the next stage.

“Our number one objective at Kharmagtai is to fast-track resource drilling designed to significantly upgrade the Kharmagtai Mineral Resource estimate and to complete a preliminary economic assessment (PEA) of a very low strip ratio, higher grade open pit ‘starter’ project contained within a larger resource.

“I am confident that Kharmagtai will further improve its status as the premier large-scale undeveloped copper-gold project in Asia.”

Xanadu’s focus is to maximise the development potential of the Kharmagtai deposit in the shortest possible time frame. 

Potential of recent Zaraa discovery being evaluated

Drilling and the PEA are focused on the three main deposits – Copper Hill, White hill and Stockwork Hill.

The fourth deposit and recent discovery, Zaraa, is being assessed in parallel with the drilling and related development plan.

The objective at Zaraa is to demonstrate that this large-scale porphyry has both open pit and underground potential.

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Wed, 22 Aug 2018 12:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203349/xanadu-mines-commences-drilling-to-boost-project-economics-203349.html
<![CDATA[Media files - Xanadu Mines developing Kharmagtai 'as a standout project globally' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9988/xanadu-mines-developing-kharmagtai-as-a-standout-project-globally--9988.html Tue, 31 Jul 2018 17:05:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9988/xanadu-mines-developing-kharmagtai-as-a-standout-project-globally--9988.html <![CDATA[News - Xanadu Mines’ drill result brings Zaraa copper-gold deposit closer to open pit range ]]> https://www.proactiveinvestors.com.au/companies/news/200524/xanadu-mines-drill-result-brings-zaraa-copper-gold-deposit-closer-to-open-pit-range-200524.html Xanadu Mines Ltd’s (ASX:XAM) latest drill results have brought the Zaraa copper-gold discovery of the Kharmagtai project in Mongolia closer to being in open pit range.

Results from hole KHDDH469 have brought Zaraa mineralisation within 330 metres vertically of surface and Xanadu is confident additional shallow drilling can further advance its aim.

The hole returned a near continuous intercept in excess of 920 metres of copper and gold mineralisation and ended in porphyry mineralisation at 1,399.5 metres.

READ: Xanadu Mines attracts $10 million for copper-gold project in Mongolia

Xanadu’s managing director and CEO Dr Andrew Stewart, said: “We are extremely pleased with progress at the Zaraa discovery.

“After our initial drill holes showed Zaraa to be a very large-scale system with high-grade potential, our program has turned to bringing Zaraa to surface.”

KHDDH469 assayed 441.6 metres at 0.35% copper and 0.35 g/t gold from 378.9 metres, including 333.4 metres at 0.42% copper and 0.41 g/t gold, or 0.74% copper equivalent, from 414 metres.

There was another 480.3-metre intersection from 832.3 metres that assayed 0.30% copper and 0.25 g/t gold, including 117.2 metres at 0.49% copper and 0.39 g/t gold from 988 metres.

Ground magnetic data for the Kharmagtai project with Zaraa in the centre.

READ: Xanadu Mines assays 750 metres of copper-gold in new holes from Zaraa discovery

Stewart said: “KHDDH469 entered consistent and strong mineralisation at a depth of 330 metres vertically from surface.

“Drill hole KHDDH469 is one more step towards defining the size, shape and grade of Zaraa.

“The objective is to first define a large-scale open pit resource, then step deeper towards the higher-grade underground potential.”

Sporadic mineralisation from 100 metres

In the hole, sporadic porphyry mineralisation was recorded from 100 metres in depth, or about 80 metres vertically, with 52 metres at 0.26% copper equivalent.

As well as bringing Zaraa 200 metres closer to the surface, the hole also expanded the system 220 metres to the northeast and 170 metres to the southwest.

Diamond drilling planned

About 5,000 metres of diamond drilling is planned to bring the known mineralisation at Zaraa to the basement surface, which is 20 metres from the current land surface.

This will also drill this shallow zone to spacings sufficient for a maiden resource estimate, focusing on large-scale open-pit potential.

Stewart said: “This blind discovery is the result of a high-quality and systematic exploration program using good geology and a scientific exploration approach.

“We believe there remains excellent potential for more large-scale discoveries across the Kharmagtai district.

“We will continue to take a systematic approach throughout 2018 to assess the four deposits we have identified so far - Copper Hill, Stockwork Hill, White Hill and Zaraa - as well as testing other shallow exploration targets.”

Similarities with Golden Eagle

There are some close similarities between the surface expression of Zaraa and that of Golden Eagle, 800 metres to the east-southeast.

The Zaraa experiences are being used to re-interpret Golden Eagle data to help define potential depth extensions and drilling is being planned to test this system.

“Following the discovery of our fourth porphyry centre at Zaraa we believe the Kharmagtai project is approaching a near-term development opportunity,” Stewart added.

“Our objective at Kharmagtai now is to work on a new mineral resource estimate for a low strip ratio, high-quality standalone open-pit project and quickly demonstrate economic viability.”

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Wed, 11 Jul 2018 10:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200524/xanadu-mines-drill-result-brings-zaraa-copper-gold-deposit-closer-to-open-pit-range-200524.html
<![CDATA[News - Xanadu Mines attracts $10 million for copper-gold project in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/199178/xanadu-mines-attracts-10-million-for-copper-gold-project-in-mongolia-199178.html Xanadu Mines Ltd (ASX:XAM) has successfully completed a share placement to domestic and international institutional and sophisticated investors to raise $10 million at 17 cents per share.

The company received strong support from existing shareholders and demand from new investors, driven by the recent exploration success at its flagship Kharmagtai copper-gold project in Mongolia.

READ: Xanadu Mines assays 750 metres of copper-gold in new holes from Zaraa discovery

Xanadu chief executive officer Dr Andrew Stewart said: “The placement enables us to further strengthen our share register and balance sheet, allowing Xanadu to complete the resource drilling program at Kharmagtai unencumbered, and provide an updated mineral resource estimate before the end of 2018.

“Xanadu will also progress testing of high-priority targets to make new discoveries and grow existing deposits.

“Xanadu believes being fully funded to complete this exciting phase places the company in a very advantageous position to maximize the benefits from the high demand and high prices for copper and gold.”

The company’s recent high-grade subsections from drilling at the Zaraa copper-gold porphyry discovery at Kharmagtai includes 30.4 metres at 0.95% copper and 0.80 g/t gold.

These new results follow a discovery hole which intersected 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres.

The Zaraa discovery comes at a time when global consumers are searching for projects to fulfil future demand for copper, which is set to increase with the proliferation of electric vehicles.

Xanadu will now complete resource drilling at the Kharmagtai Open Pit and proceed with a scoping study, continuing exploration at the Kharmagtai and Red Mountain projects in Mongolia.

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Wed, 20 Jun 2018 11:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199178/xanadu-mines-attracts-10-million-for-copper-gold-project-in-mongolia-199178.html
<![CDATA[News - Xanadu Mines to lift cash position following porphyry discovery ]]> https://www.proactiveinvestors.com.au/companies/news/198741/xanadu-mines-to-lift-cash-position-following-porphyry-discovery-198741.html Xanadu Mines Ltd (ASX:XAM) recently made a porphyry discovery at its flagship Kharmagtai copper and gold project located in the South Gobi region of Mongolia.

READ: Xanadu Mines assays 750 metres of copper-gold in new holes from Zaraa discovery

To continue to advance the next steps, Xanadu is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until Friday 15 June 2018, or earlier if an announcement is made to the market.

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Wed, 13 Jun 2018 10:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198741/xanadu-mines-to-lift-cash-position-following-porphyry-discovery-198741.html
<![CDATA[News - Xanadu Mines assays 750 metres of copper-gold in new holes from Zaraa discovery ]]> https://www.proactiveinvestors.com.au/companies/news/198497/xanadu-mines-assays-750-metres-of-copper-gold-in-new-holes-from-zaraa-discovery-198497.html Xanadu Mines Ltd (ASX:XAM) has received assays from the second and third holes drilled at the Zaraa copper-gold porphyry discovery within the Kharmagtai Copper-Gold Project, Mongolia.

KHDDH466 intersected 750 metres at 0.22% copper and 0.18 g/t gold from 340 metres.

KHDDH467 intersected 370.7 metres at 0.36% copper and 0.25 g/t gold from 918.3 metres.

High-grade subsections from the two holes included 30.4 metres at 0.95% copper and 0.80 g/t gold.

These new results follow the recent discovery hole, KHDDH462 which intersected 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres.

Unlocking the potential of this porphyry district

Xanadu’s managing director and CEO 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.

Drilling focused on near-surface oxide gold

Stewart added: “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.”

READ: Xanadu Mines drill results suggest Zaraa copper-gold discovery outcrops

Earlier this week Xanadu drilled out shallow copper and gold mineralisation at its Zaraa porphyry discovery.

Assays included 9 metres at 6.6 g/t gold and 0.18% copper from 24 metres and 4 metres at 2.42 g/t gold and 0.07% copper from 27 metres.

Notably, this early drilling shows gold-rich oxide mineralisation above the Zarraa copper-gold porphyry discovery.

Near-surface mineralisation supports the project’s potential to be developed given mining can begin earlier nearer to the surface and then move towards deeper mineralisation.

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Fri, 08 Jun 2018 10:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198497/xanadu-mines-assays-750-metres-of-copper-gold-in-new-holes-from-zaraa-discovery-198497.html
<![CDATA[News - Xanadu Mines drill results suggest Zaraa copper-gold discovery outcrops ]]> https://www.proactiveinvestors.com.au/companies/news/198227/xanadu-mines-drill-results-suggest-zaraa-copper-gold-discovery-outcrops-198227.html Xanadu Mines Ltd (ASX:XAM) has drilled out shallow copper and gold mineralisation at its Zaraa porphyry discovery within the flagship Kharmagtai Copper Gold Project in Mongolia.

New assays include 9 metres at 6.6 g/t gold and 0.18% copper from 24 metres and 4 metres at 2.42 g/t gold and 0.07% copper from 27 metres.

Notably, this early drilling shows gold-rich oxide mineralisation above the Zarraa copper-gold porphyry discovery.

The recent discovery hole, KHDDH462 intersected 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres.

Near-surface mineralisation supports potential mine development

Xanadu’s managing director and CEO Dr Andrew Stewart said: “New shallow bedrock drilling results confirm our belief that the Zaraa copper-gold discovery has the potential to outcrop at the basement surface some 18 metres below the present-day land surface and these shallow high-grade intercepts which are hosted in a strongly silicified and clay altered diorite porphyry represent the upper oxide zone above the Zaraa porphyry system.

“Delineating the Zaraa discovery closer to surface will aid in future development.

“Initial widely spaced drilling and geophysics indicates that the new Zaraa discovery represents a very large copper-gold system.

“Based upon the current data, Zaraa appears to be a northeast trending, steeply dipping porphyry system approximately 400 metres wide and up to 1.5 kilometres long.”

News expected to continue in months ahead

Stewart added: “Ongoing drilling continues to test for both lateral continuity to the shallow oxide mineralisation and depth extensions to the mineralisation.

“The current program will provide a steady flow of news for shareholders in the months ahead.”

READ: Xanadu Mines expands new Zaraa porphyry discovery with two new holes

Assays are pending for two additional diamond drill holes that have been completed at Zaraa, expanding mineralisation towards the southwest.

KHDDH466 was drilled one kilometre southeast of discovery drill hole and entered mineralisation at 340 metres down hole for 720 metres of moderate to strong porphyry mineralisation.

KHDDH467 entered mineralisation at 460 metres down hole for 875 metres of porphyry mineralisation including 250 metres of strong porphyry mineralisation.

Final assays from both holes are expected within the next week.

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Tue, 05 Jun 2018 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198227/xanadu-mines-drill-results-suggest-zaraa-copper-gold-discovery-outcrops-198227.html
<![CDATA[News - Xanadu Mines shares purchased by director and director’s spouse ]]> https://www.proactiveinvestors.com.au/companies/news/197329/xanadu-mines-shares-purchased-by-director-and-directors-spouse-197329.html Xanadu Mines Ltd (ASX:XAM) has received on-market buying support from director Michele Muscillo and director Hannah Badenach’s spouse.

Both lots of the purchases occurred last week and were completed using on-market trades.

These two director purchase events follow buying from the chairman, managing director and a non-executive director last week.

READ: Xanadu Mines directors support Mongolian copper-gold strategy with on-market share purchases

Last week, Xanadu intersected further copper in the second and third holes at the Zaraa porphyry discovery at its flagship Kharmagtai Copper-Gold Project in Mongolia.

The recent discovery hole at Zaraa intersected 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres.

READ: Xanadu Mines expands new Zaraa porphyry discovery with two new holes

Two new holes have been drilled and the first batch of assays from the drill core is expected to be received in the last week of May.

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Mon, 21 May 2018 12:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197329/xanadu-mines-shares-purchased-by-director-and-directors-spouse-197329.html
<![CDATA[News - Xanadu Mines directors support Mongolian copper-gold strategy with on-market share purchases ]]> https://www.proactiveinvestors.com.au/companies/news/197241/xanadu-mines-directors-support-mongolian-copper-gold-strategy-with-on-market-share-purchases-197241.html Xanadu Mines Ltd (ASX:XAM) directors have demonstrated their confidence in the company’s Mongolian copper-gold strategy through on-market purchases of shares with a total value of almost $54,000.

Chairman Kevin Tomlinson, managing director and chief executive officer Andrew Stewart and independent non-executive director Darry Clark have each made purchases this week.

READ: Xanadu Mines focused on large new copper-gold discovery in Mongolia

Tomlinson acquired almost 104,600 shares on May 17 worth almost $19,800 and now holds 394,547 shares.

Stewart purchased almost 118,000 shares on-market on May 17 with a total value of more than $22,000 and now holds more than 4.148 million shares.

Clark purchased one lot of 30,000 shares on May 15 with $5,100 and another 30,000 on May 18 worth $6,450.

He now holds more than 1.721 million shares in the copper-gold explorer.

Shares up 10%

Shares are up almost 10% today to 23 cents and have risen from just above 16 cents at the start of the week.

READ: Xanadu Mines expands new Zaraa porphyry discovery with two new holes

Just this week Xanadu announced that it intersected further copper in the second and third holes at the Zaraa porphyry discovery at its flagship Kharmagtai Copper-Gold Project.

One hole intersected 720 metres of visual copper mineralisation and the other is at 1,120 metres depth in high-density porphyry veining and strong chalcopyrite mineralisation.

Drilling is underway at Zaraa to further refine potentially shallower mineralisation for follow-up diamond drilling.

READ: Xanadu Mines delivers 928.4 metre copper-gold intersection, largest to date at Kharmagtai

The Kharmagtai project hosts three porphyry deposits within a largely under-explored porphyry copper-gold district.

Zaraa, the focus of aggressive exploration, is showing strong early potential to add to the project’s JORC-compliant resource at the Stockwork Hill, White Hill and Copper Hill deposits.

1.5 million pound copper resource

At March 2015 the resource measured 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

Kharmagtai is in the prolific South Gobi region that also hosts the Oyu Tolgoi Copper-Gold Project where open-pit mining is being carried out and the large underground mine is in development.

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Fri, 18 May 2018 11:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197241/xanadu-mines-directors-support-mongolian-copper-gold-strategy-with-on-market-share-purchases-197241.html
<![CDATA[News - Xanadu Mines expands new Zaraa porphyry discovery with two new holes ]]> https://www.proactiveinvestors.com.au/companies/news/197050/xanadu-mines-expands-new-zaraa-porphyry-discovery-with-two-new-holes-197050.html Xanadu Mines Ltd (ASX:XAM) has intersected further copper mineralisation in the second and third holes at its new Zaraa porphyry discovery at its flagship Kharmagtai Copper Gold Project in Mongolia.

As recently outlined, the discovery hole, KHDDH462 intersected 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres.

New holes KHDDH466 intersected 720 metres of visual copper mineralisation, and KHDDH467 is currently at 1,120 metres depth in high density porphyry veining and strong chalcopyrite mineralisation.

READ: Xanadu Mines delivers 928.4 metre copper-gold intersection, largest to date at Kharmagtai

Xanadu’s managing director and CEO Dr Andrew Stewart said: “The early intersection of strong porphyry veining and visible copper sulphide mineralisation in several drill holes confirms Zaraa is an important new discovery within the Kharmagtai district.

“The broad intersections of porphyry veining and mineralisation combined with geophysics suggests that Zaraa represents a significant copper-gold porphyry system with the potential to deliver a step-change for the project.

“Copper and gold grades appear to have increased towards the southwest and some solid geological modelling has highlighted the potential shallow level expression of mineralisation less than 200 metres towards the north of the current drilling.”

New drilling testing for near-surface mineralisation

Shallower drilling is currently underway to further refine potentially shallower mineralisation for follow up diamond drilling.

Stewart added: “The current drill strategy is designed test the true scale of the Zaraa porphyry centre and test for near surface expression of this potentially large system.

“The discovery of Zaraa reinforces the exploration potential of the rapidly-growing Kharmagtai porphyry district.”

Assays expected starting this month

KHDDH466 was terminated at 1,090 metres in weakly mineralised porphyry for which assays are expected in the last week of May. 

KHDDH467 has extended mineralisation 280 metres towards the southeast and final assays are expected during early June.

An emerging cluster of porphyry deposits at Kharmagtai

The Kharmagtai project hosts three porphyry deposits within a largely under-explored porphyry copper-gold district.

Zaraa, the focus of aggressive exploration, is showing strong early potential to add to the project’s JORC resource at the Stockwork Hill, White Hill and Copper Hill deposits.

As of March 2015, the JORC resource measured 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

 

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Wed, 16 May 2018 10:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197050/xanadu-mines-expands-new-zaraa-porphyry-discovery-with-two-new-holes-197050.html
<![CDATA[News - Xanadu Mines delivers 928.4 metre copper-gold intersection, largest to date at Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/news/196595/xanadu-mines-delivers-9284-metre-copper-gold-intersection-largest-to-date-at-kharmagtai-196595.html Xanadu Mines Ltd (ASX:XAM) has received the largest intercept of continuous mineralisation drilled to date at the Kharmagtai Copper-Gold Project in Mongolia’s prolific South Gobi region.

The intersection of 928.4 metres at 0.30% copper and 0.27 g/t gold from 458 metres is from hole KHDDH462 at the new Zaraa porphyry discovery.

Potential for very large mineral systems

It indicates strong potential to add to Kharmagtai’s 2015 JORC resource of 203.4 million tonnes at 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

Managing director Dr Andrew Stewart said: “KHDDH462 is a pivotal drill hole for Xanadu Mines.

“KHDDH462 represents the largest intercept of continuous mineralisation drilled at Kharmagtai and the best intercept drilled outside the existing resources to date.

“This demonstrates Kharmagtai’s potential for very large mineral systems.

“With both active drill holes currently in mineralisation, the next month will be an exciting time for Xanadu and Kharmagtai.”

The Kharmagtai district with the Zaraa holes in the centre, east of the current resource.

READ: Xanadu Mines focused on large new copper-gold discovery in Mongolia

The 928.4 metre intersection included 613.9 metres at 0.37% copper and 0.33 g/t gold from 557 metres.

Within this was a higher grade 69-metre interval from 825 metres at 0.51% copper and 0.45 g/t gold.

The hole ended at 1,386.4 metres within plus-0.26% copper equivalent mineralisation.

READ: Xanadu Mines intersects over 800 metres of near-continuous copper and gold

Drilling continues at Zaraa with two diamond step-out scissor holes underway, 100 metres along strike from KHDDH462.

One of these entered mineralisation at 420 metres, 200 metres earlier than expected, and is currently at 891 metres while the other entered mineralisation at 361 metres and is at 825 metres.

 

 

Stewart adds: “Our strategy is clear: to add tonnes and grade to the existing resources by discovering additional high-grade deposits within the Kharmagtai Copper-Gold Project.

“With our aggressive and systematic drill program we are delivering on this strategy.

“The discovery of Zaraa reinforces the exploration potential of the fast-growing Kharmagtai porphyry district.”

Further work planned

3D induced polarisation (IP) data over the discovery area highlights the phyllic alteration zone associated with the mineralisation drilled in KHDDH462.

This IP data shows a very large alteration system, interpreted to form a cap over the strike length of Zaraa.

Following completion of the first three drill holes, larger step-out holes will be drilled.

The aim of these will be to bring the Zaraa mineralisation to surface and to aid in delineating the size and shape of the porphyry system.

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Wed, 09 May 2018 09:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196595/xanadu-mines-delivers-9284-metre-copper-gold-intersection-largest-to-date-at-kharmagtai-196595.html
<![CDATA[News - Xanadu Mines focused on large new copper-gold discovery in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/196394/xanadu-mines-focused-on-large-new-copper-gold-discovery-in-mongolia-196394.html Xanadu Mines Ltd (ASX:XAM) has three projects located within two of Mongola’s porphyry copper belts.

Its flagship asset is the 76.5% owned Kharmagtai Copper Project in the South Gobi region of Mongolia where the company is aggressively drilling out a major new copper-gold discovery.

While the exploration focus is rightfully on Kharmagtai, Xanadu also owns the advanced Red Mountain Copper Gold Project and early stage Yellow Mountain Copper Project.

An emerging cluster of porphyry deposits at Kharmagtai

The Kharmagtai project hosts three porphyry deposits within a largely under-explored porphyry copper-gold district.

During April, Xanadu discovered another porphyry centre, Zaraa, with the first hole intersecting 800 metres of mineralisation.

Zaraa, the focus of aggressive exploration, is showing strong early potential to add to the project’s JORC resource at the Stockwork Hill, White Hill and Copper Hill deposits.

As of March 2015, the JORC resource measured 203.4 million tonnes grading 0.34% copper and 0.33 g/t gold for 1.5 million pounds of copper and 2.2 million ounces of gold.

Porphyry copper deposits typically occur in clusters and recent exploration at Kharmagtai has revealed the project could host multiple additional porphyry-style deposits.

READ: Xanadu Mines intersects over 800 metres of near-continuous copper and gold

The discovery diamond hole KHDDH462 drilled at the Zaraa porphyry was terminated in mineralisation at 1,386.4 metres depth.

The hole intersected over 800 metres of near-continuous copper and gold mineralisation making it the longest exploration intersection of gold and copper recorded by Xanadu at Kharmagtai.

Xanadu’s managing director and CEO Dr Andrew Stewart said: “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 Copper-Gold Project."

As at early-May 2018, two diamond rigs were drilling two step out holes to the discovery hole at Zaraa.

Wider step-out holes will be drilled aiming to discover copper-gold mineralisation closer to surface and to aid in delineating the size and shape of the porphyry system.

19 porphyry targets to test at Kharmagtai

Four new porphyry centres have now been discovered by Xanadu under shallow cover east of the existing resources.

The current strategy is to test all 19 targets identified before focusing exploration on the highest quality porphyry centres.

Growing global demand for new copper projects

The emerging Kharmagtai project is being advanced during a period of growing demand for new copper projects.

Market commentators continue to point to struggling supply from current operations and a weak pipeline of new projects coming online.

BMO Capital Markets in April 2018 said the world’s top copper operations in 2007 are producing 10-15% less today than 2007 and the trend is expected to continue.

Demand for copper is expected to remain strong given China’s infrastructure goals will require copper and it is an important metal in electric vehicles.

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Fri, 04 May 2018 12:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196394/xanadu-mines-focused-on-large-new-copper-gold-discovery-in-mongolia-196394.html
<![CDATA[Media files - Xanadu Mines moves to expand copper resources as global supply shortfall threatens ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9186/xanadu-mines-moves-to-expand-copper-resources-as-global-supply-shortfall-threatens-9186.html Wed, 02 May 2018 18:20:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9186/xanadu-mines-moves-to-expand-copper-resources-as-global-supply-shortfall-threatens-9186.html <![CDATA[News - Xanadu Mines intersects over 800 metres of near-continuous copper and gold ]]> https://www.proactiveinvestors.com.au/companies/news/196198/xanadu-mines-intersects-over-800-metres-of-near-continuous-copper-and-gold-196198.html Xanadu Mines Ltd (ASX:XAM) has received deeper results from its discovery diamond drill hole at the new Zaraa porphyry within its flagship Kharmagtai Copper-Gold Project in Mongolia.

Assays have now been received down to 1,064 metres depth in the discovery hole which was terminated in mineralisation at 1,386.4 metres.

The latest batch of assays increases the intersection to 606 metres at 0.36% copper and 0.32 g/t gold from 458 metres including 507 metres at 0.39% copper and 0.36 g/t gold.

Final assays are expected in the second week of May.

READ: Xanadu Mines discovers new copper porphyry centre at Kharmagtai project in Mongolia

Xanadu’s managing director and CEO 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.”

One of the world's most exciting new copper and gold discoveries

Stewart added: “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 Copper-Gold 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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Wed, 02 May 2018 10:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196198/xanadu-mines-intersects-over-800-metres-of-near-continuous-copper-and-gold-196198.html
<![CDATA[News - Xanadu Mines discovers new copper porphyry centre at Kharmagtai project in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/195311/xanadu-mines-discovers-new-copper-porphyry-centre-at-kharmagtai-project-in-mongolia-195311.html Xanadu Mines Ltd (ASX:XAM) has discovered a new copper porphyry centre at its Kharmagtai Copper-Gold Project in Mongolia’s South Gobi region which hosts the large Oyu Tolgoi project.

A hole targeting a buried porphyry system has encountered some 600 metres of porphyry-style mineralisation at the target, which has been named Zaraa.

Shares rose by up to 11% intra-day to 20.5 cents.

READ: Xanadu Mines extends copper-gold footprint at Mongolian project

This hole is at a depth of 1,200 metres and remains in mineralisation with visible copper-bearing sulphides.

The top 770 metres of the hole returned 316 metres at 0.32% copper and 0.27 g/t gold from 458 metres.

Within this intersection were 217 metres from 557 metres at 0.4% copper and 0.33 g/t gold, and 108 metres from 645 metres at 0.47% copper and 0.42 g/t gold.

READ: Xanadu Mines demonstrates excellent gold recovery in tests from Mongolian copper-gold project

Executive director and chief executive officer 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.

19 large-scale porphyry targets

“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.”

Zaraa near Sandstorm target

Zaraa is 500 metres south of the Sandstorm target and 1 kilometre west of Golden Eagle.

Final results from the Zaraa drilling are expected in the next couple of weeks.

The company believes the hole indicates the system is increasing in size and grade towards the southwest.

Three follow-up holes are planned to test this new system along strike, targeting higher grades and broader widths in addition to expanding shallow high-grade mineralisation.

Ground magnetic data and location of reported drilling at Kharmagtai.

Broad zones of tourmaline breccia

At Sandstorm, drilling has returned a broad zone of sulphide-bearing tourmaline breccia mineralisation.

This is about 1.2km along strike from the mineralised breccia system at Stockwork Hill.

One hole intersected more than 100 metres of tourmaline breccia which is interpreted to be the strike extension of Stockwork Hill.

Assay results are expected in early May with follow-up drilling underway.

Epithermal gold intersections

At the Zephyr target, multiple high-grade epithermal gold intersections were returned while drilling porphyry targets.

Results include 2 metres at 4.4 g/t gold from 238 metres and 8.5 metres at 3.4 g/t from 297.5 metres, including 2 metres at 10.7 g/t from 300 metres.

Xanadu’s drilling at White Hill West target continues to expand the system with the best result being 785.9 metres at 0.21% copper and 0.12 g/t gold from 2 metres.

A reverse circulation program is underway to establish whether White Hill West links with the White Hill target 2 kilometres away.

Four rigs drilling

Stewart said: “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 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.”

Drilling will start in early May at the Red Mountain project east of Kharmagtai targeting large-scale porphyries and epithermal gold.

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Thu, 19 Apr 2018 10:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195311/xanadu-mines-discovers-new-copper-porphyry-centre-at-kharmagtai-project-in-mongolia-195311.html
<![CDATA[News - Xanadu Mines demonstrates excellent gold recovery in tests from Mongolian copper-gold project ]]> https://www.proactiveinvestors.com.au/companies/news/194806/xanadu-mines-demonstrates-excellent-gold-recovery-in-tests-from-mongolian-copper-gold-project-194806.html Xanadu Mines Ltd’s (ASX:XAM) tests demonstrate excellent gold deportment results in ore from the Kharmagtai Copper-Gold Project in Mongolia’s South Gobi region.

Ongoing test work shows that gold should report to a copper concentrate as free gold inclusion.

The new results build on Xanadu’s previous metallurgical studies which showed very high gold recovery to the rougher concentrate.

READ: Xanadu Mines extends copper-gold footprint at Mongolian project

Xanadu’s chief executive officer Dr Andrew Stewart said: “These above average results, as expected, show that gold occurs as coarse grains in association with principle copper sulphides.

“While further testing is required as the project advances, we see no significant hurdles to producing a high-quality concentrate via standard processing pathways from the Kharmagtai project.”

Twelve samples from Kharmagtai were sent for detailed petrological and scanning electron microprobe analysis.

The objective was to determine the location of gold across all three zones of the Kharmagtai deposit - Copper Hill, White Hill and Stockwork Hill.

Most gold occurs as separate grains

Petrological and scanning electron microprobe work showed most gold as separate grains within the copper-bearing sulphides and pyrite rather than as a solid solution.

The grains range up to 100 microns in size and include native gold and with silver as electrum.

Some minor grains also occur in silicate minerals and magnetite.

The copper sulphides analysed showed no trace metal within them as solid solution, indicating sulphides from the samples should produce concentrates free of significant deleterious elements.

WATCH NOW: Xanadu Mines cashed up and working to unlock the value at Kharmagtai

“The test results allow us to focus on the drilling underway,” Stewart said.

“This is expanding the resource and targeting near-surface porphyry copper-gold deposits within this largely under-explored porphyry copper-gold district.”

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Thu, 12 Apr 2018 11:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194806/xanadu-mines-demonstrates-excellent-gold-recovery-in-tests-from-mongolian-copper-gold-project-194806.html
<![CDATA[News - Xanadu Mines extends copper-gold footprint at Mongolian project ]]> https://www.proactiveinvestors.com.au/companies/news/192142/xanadu-mines-extends-copper-gold-footprint-at-mongolian-project-192142.html Xanadu Mines Ltd’s (ASX:XAM) accelerated exploration has extended the footprint of the Kharmagtai Copper-Gold Project in southern Mongolia.

Drilling at Stockwork Hill deposit has confirmed high-grade extensions below the resource.

At Target 19, west of the White Hill deposit, scout drilling has confirmed a new shallow porphyry copper discovery.

READ: Xanadu Mines steps-up drilling to boost copper-gold bounty in Mongolia

Results continue to confirm the Kharmagtai project as a district-scale trend with the potential to host further significant copper-gold discoveries.

Andrew Stewart, managing director, said: “What really sets our geology team apart from other explorers is our porphyry copper expertise, which is demonstrated in this new round of results.

“Extensional drilling has significantly increased the footprint of the Kharmagtai porphyry system and where we continue to add high-grade tonnes to the existing resource.

“We are particularly excited in the latest scout drilling at Target 19 where we have intersected broad zones of new copper porphyry mineralisation.

“This could provide another shallow, low-strip ratio discovery within the district.”

WATCH NOW: Xanadu Mines cashed up and working to unlock the value at Kharmagtai

The company will have four drill rigs operating across its projects in the South Gobi region.

Below the Stockwork Hill deposit, drilling has returned 230 metres from 574 metres at 0.5% copper and 0.91 g/t gold.

This included 117 metres at 0.76% copper and 1.63 g/t gold from 624.5 metres, and 71.2 metres at 0.92% copper and 2.33 g/t gold from 684 metres.

Increasing bornite mineralisation down-hole indicates that drilling is nearing the higher-grade core of deposit.

Strong results from Target 19

The newly drilled Target 19 has returned significant porphyry mineralisation.

Best result was 213.4 metres at 0.23% copper and 0.17 g/t gold, or 0.34% copper equivalent, from 86 metres.

Within this were intersections of 130.3 metres at 0.29% copper and 0.22 g/t gold from 130 metres and 16 metres at 0.47% copper and 0.39 g/t gold from 200 metres.

Mineralisation at Target 19 remains completely preserved at depth, which indicates significant resource potential.

Xanadu’s projects are in a prolific copper-gold belt in southern Mongolia.

As drilling extends mineralisation, the Stockwork Hill and White Hill deposits are beginning to coalesce at depth, which could have a material impact on future resource growth potential.

Exploration drilling of high-grade gold and copper targets at the Red Mountain prospect will resume in March.

Seeking dual listing on TSX

Xanadu has applied for the listing of its ordinary shares on the Toronto Stock Exchange to complement its ASX listing.

The company has filed a preliminary non-offering prospectus with the Ontario Securities Commission.

Stewart said: “The TSX listing will constitute a significant milestone for Xanadu, and is driven by the strong and increasing levels of interest by Canadian and North American institutional investors.

“A dual listing will provide enhanced access to international equity capital and the benefits of being listed on two leading resource focused exchanges to increase liquidity and opportunity.”

The company has engaged Mining Associates Ltd to prepare a National Instrument 43‐101 compliant technical report on the Kharmagtai and Red Mountain copper-gold projects.

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Mon, 26 Feb 2018 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192142/xanadu-mines-extends-copper-gold-footprint-at-mongolian-project-192142.html
<![CDATA[News - Xanadu Mines steps-up drilling to boost copper-gold bounty in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/191947/xanadu-mines-steps-up-drilling-to-boost-copper-gold-bounty-in-mongolia-191947.html Xanadu Mines Ltd (ASX:XAM) is stepping up drilling at its Kharmagtai project in Mongolia as it seeks to expand existing copper-gold resources and test near-surface regional targets.

The company has engaged extra drill rigs for the project in the South Gobi region, not far from the Oyu Tolgoi Copper-Gold Project of Rio Tinto plc (LON:RIO) controlled Turquoise Hill Resources Ltd (TSE:TRQ).

Four rigs will be used for exploration drilling to test high‐grade mineralisation below existing resources and multiple near-surface priority targets.

WATCH NOW: Xanadu Mines cashed up and working to unlock the value at Kharmagtai

This work, which will increase during the Northern Hemisphere spring, will follow-up field activities and drilling during the December quarter 2017.

Andrew Stewart, managing director and chief executive officer, said: “We believe Kharmagtai represents one of the most promising copper and gold discoveries being explored globally at present.

"Recent step-out drilling around the maiden shallow resources at Copper Hill, Stockwork Hill and White Hill has delivered some exceptional results.

"This new drilling has defined significant extensions to high-grade mineralisation at all three deposits, which is sure to extend resources.

“Maintain our dual drill strategy”

"With the expansion of the drilling fleet at Kharmagtai to four drill rigs, we plan to maintain our dual drill strategy.

“This encompasses expanding known mineralisation through exploration of tourmaline breccia-hosted mineralisation below and along strike from the current resources and drill testing all shallow high-priority porphyry copper-gold and gold targets undercover.”

READ: Xanadu Mines copper-gold extensions at Kharmagtai point to large scale deposit

The deposits of Stockwork Hill, White Hill and Copper Hill have a combined resource of 203 million tonnes at 0.34% copper and 0.33 g/t gold for circa 1.1 million tonnes of copper equivalent.

The existing resources and targets at Kharmagtai.

Stockwork Hill is open at depth, to the east and west and may connect to White Hill to the south.

White Hill is open at depth, to the east, south and west, and Copper Hill is showing growth potential at depth.

Strong Red Mountain results

Xanadu has also received strong results from the Red Mountain project, which is to the east of Kharmagtai.

Interpretation of the ground penetrating radar continues and Xanadu is planning for the field season in spring.

The company is well-funded with a cash balance of $9.1 million as at 31 December 2017.

It has also recently increased its holding in Mongol Metals JV to 85%, which provides an effective interest of 76.5% in the Kharmagtai project.

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Wed, 21 Feb 2018 14:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191947/xanadu-mines-steps-up-drilling-to-boost-copper-gold-bounty-in-mongolia-191947.html
<![CDATA[News - Xanadu Mines copper-gold extensions at Kharmagtai point to large scale deposit ]]> https://www.proactiveinvestors.com.au/companies/news/190507/xanadu-mines-copper-gold-extensions-at-kharmagtai-point-to-large-scale-deposit-190507.html Xanadu Mines Ltd’s (ASX:XAM) identification of sizeable extensions at three deposits within its Kharmagtai copper-gold project in Mongolia has buoyed management’s confidence.

An accelerated drilling program continues at the Stockwork Hill, Copper Hill and White Hill deposits, targeting extensions of copper and gold mineralisation along strike and at depth.

A mix of deep and shallow mineralisation

Drilling results included intersections of 252.2 metres at 0.34% copper and 0.49 g/t gold from 630 metres at Stockwork Hill and 330 metres at 0.42% copper and 0.46 g/t gold from 2.5 metres.

These results build on similar promising news in late November.

READ: Xanadu Mines assays reveal copper gold extensions Management anticipates further resource extensions

Dr Andrew Stewart, managing director, said: “We believe Kharmagtai represents one of the most promising copper and gold discoveries being explored globally at present.

“Recent step-out drilling around the maiden shallow resources at Copper Hill, Stockwork Hill and White Hill has delivered some exceptional results.

"This new drilling has defined significant extensions to high-grade mineralisation at all three deposits, which is sure to extend resources.”

Management employs dual drilling strategy

With the expansion of the drilling fleet at Kharmagtai to four drill rigs, Xanadu will maintain its dual drilling strategy.

This involves the expansion of known mineralisation below and along strike from the current resources and testing of shallow high-priority porphyry copper-gold and gold targets undercover.

New magnetic data provides basis for focus drilling campaign

Undercover exploration drilling at Kharmagtai has established a strong correlation between copper-gold grades and magnetite destruction within larger magnetic anomalies.

This relationship has assisted Xanadu in revising its modelling which has led to the definition of magnetite-bearing intrusions.

Not only has this modelling highlighted all existing mineralisation, but it has also provided numerous other targets.

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Wed, 24 Jan 2018 12:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190507/xanadu-mines-copper-gold-extensions-at-kharmagtai-point-to-large-scale-deposit-190507.html
<![CDATA[Media files - Xanadu Mines cashed up and working to unlock the value at Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8448/xanadu-mines-cashed-up-and-working-to-unlock-the-value-at-kharmagtai-8448.html Wed, 29 Nov 2017 22:26:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8448/xanadu-mines-cashed-up-and-working-to-unlock-the-value-at-kharmagtai-8448.html <![CDATA[News - Xanadu Mines assays reveal copper gold extensions ]]> https://www.proactiveinvestors.com.au/companies/news/187799/xanadu-mines-assays-reveal-copper-gold-extensions-187799.html Xanadu Mines Ltd (ASX:XAM) has received assay results from a diamond drill hole at the White Hill deposit within the Kharmagtai Project located in southern Mongolia.

Drilling is targeting extensions of copper and gold mineralisation along strike and below the current resources.

The drill hole intersected 850 metres at 0.32% copper and 0.2 g/t gold (0.45% copper equivalent) from surface.

Dr Andrew Stewart, managing director, 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”.

Assays suggest deeper, higher grade porphyry copper and gold mineralisation

Drill hole KHDDH430 was designed to expand mineralisation south of, and down-dip of the current resource.

KHDDH430 intersected 850 metres at 0.32% copper and 0.2 g/t gold (0.45% copper equivalent) from surface including 282 metres at 0.44% copper and 0.16 g/t gold (0.55% copper equivalent) from 560 metres.

This hole has added over 380 metres of previously unknown mineralisation.

The deeper parts of KHDDH430 contained significant potassic alteration and bornite mineralisation.

This suggests the hole is vectoring towards deeper, higher grade porphyry copper and gold mineralisation.

Additionally, the hole was terminated within a post mineral dyke indicating mineralisation should be open at depth, below this dyke.

Kharmagtai consists of three porphyry deposits

The White Hill deposit is one of three porphyry deposits all nearby to each other that make up the Kharmagtai Project.

READ: Xanadu Mines drills signs of a resource expansion at Kharmagtai

The three deposits have a combined JORC resource of 203 million tonnes grading 0.34% copper and 0.33 g/t gold for circa 1.1 million tonnes of copper equivalent.

The project continues to emerge as one of the premier undeveloped copper-gold assets globally.

White Hill has good potential for high-grade zones of mineralisation

White Hill consists of a large-scale multi-phase porphyry deposit 1,200 metres long by 750 metres wide, drilled to a depth of 600 metres from surface.

Mineralisation at White Hill is open to the south, east, west and at depth.

Copper and gold at White Hill are hosted within porphyry veining and as dissemination.

READ: Xanadu Mines drills high-grade copper below current resource in Mongolia

Unlike the nearby Copper Hill and Stockwork Hill deposits, White Hill has had sparse drilling and there remains good potential for high-grade zones of mineralisation within the current drill pattern.

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Mon, 27 Nov 2017 15:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187799/xanadu-mines-assays-reveal-copper-gold-extensions-187799.html
<![CDATA[News - Xanadu Mines gains Canadian bank as substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/186835/xanadu-mines-gains-canadian-bank-as-substantial-shareholder-186835.html Xanadu Mines Ltd (ASX:XAM) has received a notice of initial substantial shareholder from the Bank of Nova Scotia (and associates / affiliates), which holds 40.25 million shares for a 6.84% stake.

The notice was lodged on behalf of 1832 Asset Management L.P, manager of the Dynamic/Scotia Funds.

Xanadu has been a strong performer in recent months, last trading at $0.30, or around 50% higher than two months ago.

The company's flagship Kharmagtai project is located in Mongolia, and currently hosts three porphyry deposits in close proximity to each other, Stockwork Hill, White Hill and Copper Hill.

The three deposits have a combined JORC resource of 203 million tonnes at 0.34% copper and 0.33 g/t gold for circa 1.1 million tonnes of copper equivalent.

The project continues to emerge as one of the premier undeveloped copper-gold assets globally.

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Tue, 07 Nov 2017 10:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186835/xanadu-mines-gains-canadian-bank-as-substantial-shareholder-186835.html
<![CDATA[News - Xanadu Mines drills high-grade copper below current resource in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/186384/xanadu-mines-drills-high-grade-copper-below-current-resource-in-mongolia-186384.html Xanadu Mines Ltd (ASX:XAM) has successfully drilled extensions of high-grade copper along strike and below the current resource at the Stockwork Hill deposit within the Kharmagtai project in Mongolia.

The Stockwork Hill deposit consists of composite intrusions hosting gold-rich porphyry copper mineralisation circa 800 X 400 metres and extending to a depth of at least 600 metres.

Xanadu has now drilled a significant new zone of high-grade mineralisation outside the current resource (1.5 billion pounds copper and 2+ million ounces gold), returning:

- 294 metres at 0.47% copper and 0.85 g/t gold (1.01% copper equivalent) from 466 metres, including 86 metres at 0.78% copper and 1.91 g/t gold (2.0% copper equivalent) from 558 metres.

Significantly, the presence of bornite (an ore of copper) suggests this new zone of mineralisation is closer to the high-grade core of the system.

Further drilling is underway to expand this new zone by deepening several shallower holes above and along strike of the targets.

Andrew Stewart, managing director, commented: “We are excited that hole KHDDH419 successfully demonstrated a clear extension of high-grade mineralisation along strike and at depth outside the current resource model.

“We are particularly excited with the new results from this hole which has discovered a new zone of gold-rich copper porphyry mineralisation, representing the downthrown block of the main Stockwork Hill deposit.

“The high-grade extensions we have identified provide the opportunity to assess Stockwork Hill as a potential underground resource that has the potential to deliver significant additional value to the Project”.

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Mon, 30 Oct 2017 12:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186384/xanadu-mines-drills-high-grade-copper-below-current-resource-in-mongolia-186384.html
<![CDATA[News - Xanadu Mines drills signs of a resource expansion at Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/news/185084/xanadu-mines-drills-signs-of-a-resource-expansion-at-kharmagtai-185084.html Xanadu Mines (ASX:XAM) has received further drill results confirming further success at its flagship Kharmagtai project located in Mongolia.

Assays from the latest drill hole KHDDH421 have returned broad zones of high-grade mineralisation at shallow depths including 411.6 metres at 1.04% copper equivalent from surface.

Fully funded diamond drilling is targeting near-surface porphyry copper-gold deposits and the continuity of mineralisation below the current resources.

Dr Andrew Stewart, managing director, commented: “We continue to be encouraged by the results of our ongoing extensional resource drilling around the established resources at Kharmagtai.

“Hole KHDDH421, successfully confirmed our interpretation of a shallow west-northwest plunge to a high‐grade zone of copper and gold mineralisation at depth.”

KHDDH421 assays

Drill hole KHDDH421 targeted the down-plunge extensions of Copper Hill deposits and has returned significant intercepts below a depth of 200 metres depth.

Within the broader intersection of 411.6 metres at 0.54% copper and 0.79 g/t gold (1.04% copper equivalent) from surface, higher grade zones included:

- 134 metres at 1.01% copper and 1.84 g/t gold (2.18% copper equivalent) from 14 metres; and
- 112 metres at 0.49% copper and 0.48 g/t gold (0.8% copper equivalent) from 224 metres including 38 metres at 0.71% copper and 0.48 g/t gold (1.01% copper equivalent) from 292 metres.

Ongoing diamond drilling is in progress to target high-grade mineralisation down plunge with further results from Copper Hill expected in November.

Fully funded

Xanadu is now fully funded after its recent $15.4 million placement.

READ: Xanadu receives strong demand in capital raising

As of today, Xanadu has repaid the US$2.76 million loan facility it had with Noble Resources International Pte Ltd.

Kharmagtai Copper-Gold Project

Kharmagtai currently hosts three porphyry deposits in close proximity to each other, Stockwork Hill, White Hill and Copper Hill.

The three deposits have a combined JORC resource of 203 million tonnes grading 0.34% copper and 0.33 g/t gold for circa 1.1 million tonnes of copper equivalent.

The project continues to emerge as one of the premier undeveloped copper-gold assets globally.

The discovery of a fourth deposit or significant resource extensions could be the tipping point to take this project into development.

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Thu, 05 Oct 2017 11:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185084/xanadu-mines-drills-signs-of-a-resource-expansion-at-kharmagtai-185084.html
<![CDATA[News - Xanadu Mines lifts cash balance and strengthens share register through placement ]]> https://www.proactiveinvestors.com.au/companies/news/184714/xanadu-mines-lifts-cash-balance-and-strengthens-share-register-through-placement-184714.html Xanadu Mines Ltd (ASX:XAM) has received a major vote of confidence from investors in its strategy to advance the flagship Kharmagtai copper-gold project, located in Mongolia’s South Gobi Region.

Xanadu has completed a bookbuild for an oversubscribed placement raising $15.4 million at $0.20 from domestic and international institutional and sophisticated investors.

Dr Andrew Stewart, chief executive officer, commented:

"We are very delighted with the strong support received from our existing sophisticated and institutional shareholders, and are very pleased to welcome a number of international institutional shareholders as new shareholders into Xanadu.

"The placement enables us to further strengthen our share register with selected institutional investors.

"The strengthening of our balance sheet to now be debt free will allow Xanadu to vigorously pursue its drilling programs unencumbered, which puts us in a very advantageous position."

Besides Kharmagtai, funds will also be allocated to the Red Mountain and Yellow Mountain copper-gold projects, and the repayment of the Noble debt facility.

READ NOW: Xanadu Mines confirms three large porphyry targets

Xanadu has also been attracting some broker attention, with Bell Potter placing a Buy Recommendation on the company with a $0.52 valuation.

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Thu, 28 Sep 2017 13:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184714/xanadu-mines-lifts-cash-balance-and-strengthens-share-register-through-placement-184714.html
<![CDATA[News - Xanadu Mines tightens focus on key porphyry targets in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/184551/xanadu-mines-tightens-focus-on-key-porphyry-targets-in-mongolia-184551.html Xanadu Mines Ltd (ASX:XAM) earlier this week identified three new large porphyry targets at its flagship Kharmagtai project in Mongolia.

Work is underway at the porphyry targets to vector towards the higher grade core of the system.

READ NOW: Xanadu Mines confirms three large porphyry targets.

The company is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 28th September 2017, or earlier if an announcement is made to the market.

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Tue, 26 Sep 2017 10:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184551/xanadu-mines-tightens-focus-on-key-porphyry-targets-in-mongolia-184551.html
<![CDATA[News - Xanadu Mines confirms three large porphyry targets ]]> https://www.proactiveinvestors.com.au/companies/news/184479/xanadu-mines-confirms-three-large-porphyry-targets-184479.html Xanadu Mines (ASX:XAM) has confirmed that three of its 19 copper-gold and gold targets are new large-scale porphyry prospects within its flagship Kharmagtai project in Mongolia.

Exploration drilling that is currently still in progress has revealed that at least one shallow drill hole in each of the three targets has returned broad zones of porphyry alteration and mineralisation.

Initial drill results indicate a six kilometre long strike potential for mineralisation.

Dr Andrew Stewart, managing director, commented: “The results of this systematic drill program are proving to be very exciting with three new high-priority targets returning broad zones of porphyry copper and gold mineralisation under shallow cover.

“We plan to test all 19 high-potential copper-gold and gold targets generated during a recently completed bedrock drilling program.”

The three new porphyry targets

The Kharmagtai copper-gold deposits are concentrated along a series of small intrusions coming off the top of the main intrusion on the top of a much larger body at depth.

Shallow drilling in the second half of 2016 generated 19 high-potential copper-gold and gold targets, which are currently being tested by the drilling program underway.

The newly identified porphyry targets are Target 3, Target 4 and Target 6.

Target 3 is a 650x550 metre porphyry target where two shallow drill holes have been drilled with one hole returning 44 metres at 0.19% copper and 0.27g/t gold from 25 metres.

Target 4 is a 800x750 metre circular porphyry target where several broad intercepts have been recorded including three over 80 metres including 91 metres at 0.22% copper and 0.26 g/t gold from 30 metres.

Target 6 is a 1000x400 metre porphyry target where a single drill hole has returned 96 metres at 0.35 g/t gold and 0.10% copper from 95 metres.

Finding the high-grade source

Work is underway at these porphyry targets to vector towards the higher grade core of the system.

Drilling continues and the remaining targets will be tested over the coming months before all targets are assessed to focus the drill rigs on the highest grade and largest systems.

To date, less than half of the system’s footprint and only six of the 19 targets have been tested.

Following on from earlier success

The identification of the porphyry targets follows on from recent high-grade copper-gold intercepts at the Stockwork Hill deposit within the Kharmagtai Project.

Results include:
- 264 metres at 0.56% copper and 1.46 g/t gold (1.49% copper equivalent) from surface;
- 234 metres at 0.57% copper and 1.04 g/t gold (1.23% copper equivalent) from 466 metres, which defined a new zone of high-grade stockwork mineralisation; and
- 212 metres at 0.36% copper and 0.38 g/t gold (0.61% copper equivalent) from 333 metres, which intersected a broad zone of breccia mineralisation.

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Mon, 25 Sep 2017 16:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184479/xanadu-mines-confirms-three-large-porphyry-targets-184479.html
<![CDATA[News - Xanadu Mines' drilling reveals quality of Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/news/184106/xanadu-mines-drilling-reveals-quality-of-kharmagtai-184106.html Xanadu Mines Ltd (ASX:XAM) latest drilling has further enhanced the potential of the company's Kharmagtai project in Mongolia.

Diamond drilling highlights include:

- KHDDH419: 234 metres at 0.57% copper and 1.04g/t gold (1.23 copper equivalent) from 466 metres, which defined a new zone of high-grade stockwork mineralisation; and
- KHDDH418: 212 metres at 0.36% copper and 0.38g/t gold (0.61 copper equivalent) from 333 metres, which intersected a broad zone of breccia mineralisation.

Dr Andrew Stewart, managing director, commented: "The quality of Kharmagtai continues to be demonstrated by these positive drill results.

"The latest drilling, which is targeting high-grade mineralisation at Stockwork Hill, reaffirms our belief in the potential for this mineral system to host a large scale high-grade copper-gold deposit.

"The Stockwork Hill discovery remains open in virtually all directions.

"What really excites our geology team is that the host breccia contains fragments of mineralised porphyry providing strong evidence of a deeper undiscovered porphyry system below these targets.

"While the increasing presence of bornite sulphide mineralisation indicates we are getting closer to the core of the system.

"We look forward to drilling beneath the zone of chalcopyrite-gold breccia mineralisation testing for the breccia complex transition downward into another mineralised porphyry at depth."

WATCH NOW: Xanadu Mines liking what they see from drilling at Kharmagtai

The latest drilling and detailed infill mapping demonstrates increased scale of the mineralised system with exceptional depth continuity.

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Mon, 18 Sep 2017 13:45:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184106/xanadu-mines-drilling-reveals-quality-of-kharmagtai-184106.html
<![CDATA[News - Xanadu Mines confirms higher-grade mineralisation across porphyry at Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/news/183711/xanadu-mines-confirms-higher-grade-mineralisation-across-porphyry-at-kharmagtai-183711.html Xanadu Mines Ltd (ASX:XAM) continues to make high-grade copper-gold intercepts from diamond drilling at the Stockwork Hill deposit, located within the company's Kharmagtai project in Mongolia.

The latest highlight delivered: 264 metres at 0.56% copper and 1.46g/t gold for a 1.49% copper equivalent from surface, including 148 metres at 0.81% copper and 2.41g/t gold for a 2.41% copper equivalent.

Dr Andrew Stewart, managing director, commented:

"We continue to be encouraged by the results of our ongoing extensional drilling program around the current resources at Kharmagtai.

WATCH NOW: Xanadu Mines liking what they see from drilling at Kharmagtai

"Hole KHDDH415 successfully confirmed our interpretation of consistent higher-grade mineralisation across the mineralised width of the porphyry and increasing gold to copper ratios associated with north-northeast controlling structures.

"These high-grade extensions we have identified now offer us the opportunity to assess Stockwork Hill as a potential large-scale resource which we will be assessing during the remainder of 2017."

Analysis

Xanadu has been attracting broker attention recently.

The company's shares last traded at $0.22, with Bell Potter seeing a strong upside after applying a Buy Recommendation and a $0.52 valuation.

Argonaut recently made a site visit in Mongolia and rates the stock a Speculative Buy.

READ NOW: Xanadu Mines comes under broker spotlight and emerges with Buy Recommendations ]]>
Mon, 11 Sep 2017 11:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183711/xanadu-mines-confirms-higher-grade-mineralisation-across-porphyry-at-kharmagtai-183711.html
<![CDATA[Media files - Xanadu Mines liking what they see from drilling at Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8057/xanadu-mines-liking-what-they-see-from-drilling-at-kharmagtai-8057.html Fri, 08 Sep 2017 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/8057/xanadu-mines-liking-what-they-see-from-drilling-at-kharmagtai-8057.html <![CDATA[News - Xanadu Mines' Andrew Stewart comments on latest results from Kharmagtai ]]> https://www.proactiveinvestors.com.au/companies/news/183503/xanadu-mines-andrew-stewart-comments-on-latest-results-from-kharmagtai-183503.html Xanadu Mines Ltd's (ASX:XAM) Kharmagtai project in Mongolia is already a significant discovery in a world-class porphyry district.

Current drilling is targeting near-surface porphyry copper-gold deposits and the continuity of mineralisation below the current resources.

The latest highlights include: 180 metres at 0.95% copper and 1.84g/t gold from surface; with the mineralisation identified within the resource shell being better than, or similar, to the current resource estimate.

Dr Andrew Stewart, managing director and chief executive officer, commented:

"We are very encouraged by these results.

"The company has spent a considerable amount of time and resources building an extremely comprehensive geological, geochemical and geophysical dataset in three dimensions.

"Painstaking as this base data gathering was, the early results are bearing fruit.

"We completed property wide drilling through shallow cover to gather core samples for geology and geochemistry and on top of our high resolution magnetic survey have recently complete a very close spaced gravity survey.

"These techniques have provided us with many excellent shallow targets to drill and a much better understanding of previous high grade areas where we are now targeting extensions."

News flow

Xanadu has three rigs drilling at present to test shallow targets for the discovery of new porphyry centres and to extend high grade areas.

The company is planning a steady stream of news flow as it carries out the accelerated program.

The early results will provide the company with confidence.

READ NOW: Xanadu Mines comes under broker spotlight and emerges with Buy Recommendations ]]>
Wed, 06 Sep 2017 15:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183503/xanadu-mines-andrew-stewart-comments-on-latest-results-from-kharmagtai-183503.html
<![CDATA[News - Xanadu Mines comes under broker spotlight and emerges with Buy Recommendations ]]> https://www.proactiveinvestors.com.au/companies/news/183491/xanadu-mines-comes-under-broker-spotlight-and-emerges-with-buy-recommendations-183491.html Xanadu Mines Ltd (ASX:XAM) remains focused on Mongolia, and is exploring the Kharmagtai Project - which is one of the most promising copper-gold projects globally, while being one of the highest grade porphyry discoveries.

Recent drilling intercepts include 650 meters at +1% copper equivalent from surface.

The potential continues with strong bedrock copper and gold results identifying more high-priority porphyry targets.

At the Oyut Ulaan Project, gold and copper intersections have been made from multiple prospects.

Xanadu has recently been attracting some broker attention.

Bell Potter

The broker has assigned a Buy Recommendation and at $0.52 valuation. Xanadu last traded at $0.20.

Bell Potter noted in its report:

"XAM’s two very attractive copper-gold projects in the favourable pro-mining jurisdiction of Mongolia - which is now getting major company exploration attention - are actively being explored with considerable success and in a very cost-efficient manner, particularly in relation to drilling.

"Recent drilling and associated exploration activities at the Kharmagtai Copper – Gold Project have given the company a highly focused group of priority targets that is now being subjected to an accelerated drilling program involving three rigs.

"The new drilling program at the Oyut Ulaan Copper-Gold Project has discovered both high grade copper-gold mineralisation within a broad zone of porphyry and high grade copper mineralisation in tourmaline breccia at the Target 10 Prospect; gold-rich porphyry mineralisation at Diorite Hill Prospect; and more high grade epithermal gold mineralisation at the Target 33 Prospect.

"We have raised our equity diluted valuation by 8% to $0.52 per share reflecting the significant recent exploration successes.

"Our Speculative Buy recommendation is retained."

Argonaut

The broker recently made a site visit, and noted:

"Argonaut recently visited Xanadu Mines (XAM) advanced stage copper/gold exploration assets in Mongolia.

"The Company has two core projects, Kharmagtai and Red Mountain, and both contain several clusters of porphyry intrusions with a range mineralisation styles.

"An intercept of 646m @ 0.51% Cu & 0.87g/t Au at the Stockwork Hill deposit earlier this year confirmed the potential for the Kharmagtai Project to develop into a globally significant porphyry district.

"Kharmagtai has three defined discrete porphyry deposits, and a fourth would likely provide the critical mass to promote development.

"We believe the Golden Eagle prospect at Khamagtai could be the next discovery with a gold rich cap identified in shallow RC drilling supported by coincident geophysical and geochemical anomalism.

"The pipeline Red Mountain Project is well advanced with defined porphyry mineralisation at the Dolerite Hill prospect (184m @ 1.06% Cu Eq) and a massive sulphide intercept at Target 10 (6.2m @ 5.5% Cu Eq).

"SPEC BUY recommendation."

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Wed, 06 Sep 2017 09:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183491/xanadu-mines-comes-under-broker-spotlight-and-emerges-with-buy-recommendations-183491.html
<![CDATA[News - Xanadu Mines discovers gold-rich porphyry with diamond drilling ]]> https://www.proactiveinvestors.com.au/companies/news/171643/xanadu-mines-discovers-gold-rich-porphyry-with-diamond-drilling-171643.html Xanadu Mines (ASX:XAM) has discovered a new porphyry named Altan Burged with its first diamond hole within the Kharmagtai copper-gold district, in the South Gobi region of Mongolia.

Drill hole KHDDH395 intersected 220 metres at 0.64 g/t gold and 0.15% copper including 26 metres at 2.27 g/t gold from 42 metres.

The 26 metre section is shallow higher-grade gold mineralisation hosted in oxide cap above a mineralised porphyry.

Drilling will continue to delineate the near surface oxide enrichment zone and locate the highest-grade primary portions of this new porphyry discovery at Kharmagtai.

Dr Andrew Stewart, managing director, commented: “The results of this first diamond drill hole are very exciting.

“The discovery of a new porphyry centre under cover adds further weight to the geological model for the Kharmagtai district as an emerging porphyry district comprising multiple centres of copper-gold and gold mineralisation.”


Background

Xanadu is the owner of Mongolia’s largest undeveloped copper-gold deposit, has committed to spending more than $4.5 million on exploration across its advanced porphyry copper-gold projects in the world class South Gobi porphyry Belt in 2017.

The planned exploration programs, among the largest to be undertaken by a junior ASX-listed exploration company next year, will target the discovery of additional copper-gold deposits on the company’s South Gobi porphyry projects at Kharmagtai and Oyut Ulaan.

The Kharmagtai copper-gold project’s previous exploration has focused on the three outcropping porphyry deposits: Altan Tolgoi, Tsagaan Sudal and Zesen Uul - where Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold.

Away from these three deposits the prospective rocks of the Kharmagtai igneous complex are covered by either younger unconsolidated gravels or are obscured by younger volcanic rocks.

To date, over 11,140 metres of drilling has been conducted.

The significance of this cannot be understated considering 70% of the lease is covered shallow sediment and the outcropping 30% contains three known porphyry centres.


KHDDH395 diamond hole details

The first diamond drill hole at the Altan Burged porphyry intersected 220 metres grading 0.64 g/t gold and 0.15% copper from 42 metres, which includes 102 metres grading 1.0 g/t gold and 0.16% copper from 42 metres.

This broad intercept includes a shallow zone of supergene gold enrichment of 26 metres grading 2.27g/t gold from 42 metres.

Both oxide and primary gold and copper mineralisation have been intersected in the hole.

The current exploration target dimensions are 500 metres long by 300 metres wide and initial drilling indicates that there is potential for Altan Burged to host a significant high‐grade porphyry gold-copper deposit.


Analysis

The intersection in KHDDH395 represents a significant development for Xanadu’s ongoing exploration efforts within the Kharmagtai district.

While exploration of this emerging porphyry centre is still at an early stage, the width, intensity of alteration and porphyry stockwork mineralisation and tenor of the gold mineralisation intersected is encouraging.

The discovery validates Xanadu’s under cover targeting methods and the importance of these techniques as key exploration tools in unlocking the potential of the large porphyry district.

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 porphyry system.

Xanadu is up 10% intra-day and up 100% over the past 12 months, currently trading at $0.22.

The company is also expecting to release the results of an extensive trenching program at Oyut Ulaan before the end of the month.

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Mon, 16 Jan 2017 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171643/xanadu-mines-discovers-gold-rich-porphyry-with-diamond-drilling-171643.html
<![CDATA[News - Xanadu Mines chairman Mark Wheatley buys on-market ]]> https://www.proactiveinvestors.com.au/companies/news/171058/xanadu-mines-chairman-mark-wheatley-buys-on-market-171058.html The purchase increases Wheatley’s stake to circa 2.56 million shares.

The purchase follows the recent on-market purchase by non-executive director, Darryl Clark, who purchased 50,000 shares on-market.

Xanadu is the owner of Mongolia’s largest undeveloped copper-gold deposit, has committed to spending more than $4.5 million on exploration across its advanced porphyry copper-gold projects in the world class South Gobi porphyry Belt in 2017.

The planned exploration programs, among the largest to be undertaken by a junior ASX-listed exploration company next year, will target the discovery of additional copper-gold deposits on the company’s South Gobi porphyry projects at Kharmagtai and Oyut Ulaan.

Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold resources at its flagship Kharmagtai copper-gold project.

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Tue, 03 Jan 2017 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171058/xanadu-mines-chairman-mark-wheatley-buys-on-market-171058.html
<![CDATA[News - Xanadu Mines director Darryl Clark buys on-market ]]> https://www.proactiveinvestors.com.au/companies/news/170956/xanadu-mines-director-darryl-clark-buys-on-market-170956.html The purchase lifts Clark's stake to circa 1.6 million shares.

Xanadu is the owner of Mongolia’s largest undeveloped copper-gold deposit, has committed to spending more than $4.5 million on exploration across its advanced porphyry copper-gold projects in the world class South Gobi porphyry Belt in 2017.

The planned exploration programs, among the largest to be undertaken by a junior ASX-listed exploration company next year, will target the discovery of additional copper-gold deposits on the company’s South Gobi porphyry projects at Kharmagtai and Oyut Ulaan.

Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold resources at its flagship Kharmagtai copper-gold project.

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Wed, 28 Dec 2016 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170956/xanadu-mines-director-darryl-clark-buys-on-market-170956.html
<![CDATA[News - Xanadu Mines outlines $4.5 million copper-gold exploration budget ]]> https://www.proactiveinvestors.com.au/companies/news/170904/xanadu-mines-outlines-45-million-copper-gold-exploration-budget-170904.html The planned exploration programs, among the largest to be undertaken by a junior ASX-listed exploration company next year, will target the discovery of additional copper-gold deposits on the company’s South Gobi porphyry projects at Kharmagtai and Oyut Ulaan.

Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold resources at its flagship Kharmagtai copper-gold project.

Kharmagtai is therefore one of the most promising copper-gold projects globally.

Dr Andrew Stewart, managing director and CEO, commented:

"Our exploration is continuing to plan and we believe there remains excellent potential for more large-scale discoveries within our porphyry districts at Kharmagtai that has already yielded three porphyry centres and at Oyut Ulaan.

"We will continue to take a systematic approach throughout 2017 to assess the multiple copper-gold targets we have identified as being the most prospective.

"We look forward to presenting the results of the first phase of drilling this quarter."


New appointment

Following the promotion of Andrew Stewart from chief geologist to CEO in 2015, and then to managing director earlier in the year, Xanadu has appointed Mat Brown as chief geologist.

Brown has been instrumental to date in the implementation of state-of-the-art geophysical and geochemical strategies on site aimed at unlocking the copper-gold potential of the Kharmagtai and Oyut Ulaan districts.

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Fri, 23 Dec 2016 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170904/xanadu-mines-outlines-45-million-copper-gold-exploration-budget-170904.html
<![CDATA[News - Xanadu Mines drills copper and gold under shallow cover ]]> https://www.proactiveinvestors.com.au/companies/news/170841/xanadu-mines-drills-copper-and-gold-under-shallow-cover-170841.html Xanadu Mines (ASX:XAM) has now identified at least seven targets from first assays in its bedrock drilling program over the Kharmagtai copper-gold project, in the South Gobi region of Mongolia.

The drill program consisted of 259 holes for approximately 11,140 metres of drilling designed to systematically test district-scale anomalies buried under shallow cover identified through 2015 and 2016.

New top of basement drilling results confirms continuity of mineralisation under shallow 20-50 metres cover.

Drilling intersected anomalous bedrock copper and gold mineralisation over a widespread area of 25 square kilometres.

At least seven new targets were identified, with 38 drill holes returning gold grades greater than 0.1 g/t gold and 12 holes more than 0.1% copper over two metre intervals.

Dr Andrew Stewart, managing director, commented:

"The identification of the high-density stockwork copper-gold mineralisation in at least three of the new targets associated with copper over 0.3% copper and gold over 3 g/t gold is an outstanding result, and is validation of our belief that there are undiscovered porphyry centres at Kharmagtai under only 20 to 50 metres of cover."


Background

At Kharmagtai most previous exploration has focused on the three outcropping porphyry deposits: Altan Tolgoi, Tsagaan Sudal and Zesen Uul - where Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold.

Away from these three deposits the prospective rocks of the Kharmagtai igneous complex are covered by either younger unconsolidated gravels or are obscured by younger volcanic rocks.

To date, 11,140 metres of drilling has been conducted with 9,578 metres of rotary mud drilling and 1,562 metres of diamond tails.

The significance of this cannot be understated considering 70% of the lease is covered shallow sediment and the outcropping 30% contains three known porphyry centres.

Assays results have been returned for 70% of the drilling. Remaining results are expected in the coming weeks.


Analysis

Five new high-priority copper-gold porphyry and tourmaline breccia anomalies and two new epithermal gold targets have been generated within at the Kharmagtai project

The results of this targeted bedrock drilling program have proved successful.

Xanadu set out to test several shallow high-potential copper-gold and gold targets that occur under shallow cover, looking for both high-grade gold-rich stockwork mineralisation and tourmaline breccia mineralisation.

Results thus far validate Xanadu’s belief that there are undiscovered porphyry centres at Kharmagtai under only 20 to 50 metres of cover.

A priority follow-up drill program is expected to start immediately keeping investors leveraged to exploration based news flow over the short term.

Furthermore, results are pending for 30% of completed drill program with results expected in the March 2017 quarter.

Shares in Xanadu are up 80% year to date, currently trading at $0.20.

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Thu, 22 Dec 2016 12:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170841/xanadu-mines-drills-copper-and-gold-under-shallow-cover-170841.html
<![CDATA[News - Xanadu Mines appoints Dr Andrew Stewart as managing director ]]> https://www.proactiveinvestors.com.au/companies/news/167800/xanadu-mines-appoints-dr-andrew-stewart-as-managing-director-167800.html Xanadu has now appointed Dr Andrew Stewart as managing director and chief executive officer.

Mark Wheatley, executive chairman, will move to non-executive chairman.

Both changes are effective immediately, and are in line with the company's succession plan.

Stewart commented: "Over the next few months, I will be appointing a highly experienced chief geologist to ensure a seamless transition of the succession plan.

"This will complete a reorganisation of our exploration team in Mongolia to ensure our focus on exploration success continues and will strengthen in-country capacity to support our well-funded ongoing exploration programs across multiple projects.

"My move to Australia will assist with promotion of the company and provide easier and more regular access to important stakeholders and capital investment markets."

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Mon, 24 Oct 2016 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167800/xanadu-mines-appoints-dr-andrew-stewart-as-managing-director-167800.html
<![CDATA[News - Xanadu Mines Ltd's director Andrew Stewart buys on-market ]]> https://www.proactiveinvestors.com.au/companies/news/165909/xanadu-mines-ltds-director-andrew-stewart-buys-on-market-71027.html Xanadu Mines Ltd's (ASX:XAM) executive director & chief executive officer, Andrew Stewart, has lifted his stake in the company through an on-market purchase.

Stewart now holds over 4 million shares, after snapping up 52,000 shares for $9700.

Xanadu has a clear focus to transition its exploration projects in the South Gobi of Mongolia into mineable deposits through discovery of high value copper, gold and gold resources.

Xanadu maintains support from an Australia-wide broker who has a Speculative Buy recommendation and price target of $0.51 per share.

Shares in the company last traded at $0.195.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 15 Sep 2016 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165909/xanadu-mines-ltds-director-andrew-stewart-buys-on-market-71027.html
<![CDATA[News - Xanadu Mines Ltd achieves milestone at copper-gold project ]]> https://www.proactiveinvestors.com.au/companies/news/165602/xanadu-mines-ltd-achieves-milestone-at-copper-gold-project-70793.html Xanadu Mines Ltd (ASX:XAM) has successfully completed preliminary metallurgy work on samples from its Kharmagtai copper-gold project in Mongolia.

Strong results from the flotation test work saw copper recoveries of up to 95.3%, gold recoveries up to 95.4% and silver recoveries up to 89.9%.

Optimisation of the metallurgical performance will be achieved with additional test work.

Dr Andrew Stewart, CEO, commented: “These positive metallurgical test results provide more confidence with the drilling underway to expand the resource by targeting mineralisation in the tourmaline breccia.

“The new results also complement the previous metallurgical studies undertaken on the shallow copper-gold stockwork zones of the orebody.”


Kharmagtai porphyry copper-gold project

The 79.5% owned Kharmagtai project is located in south Gobi, Mongolia.

It is an advanced exploration project with a 66 square kilometre mining licence.

Kharmagtai contains a 203 million tonne JORC compliant resource containing 680,000 tonnes of copper and 2.2 million ounces of gold with significant exploration upside.

It is a large porphyry style deposit with multiple near-surface, gold-rich zones and mineralisation outcropping at surface.

The resource represents only a small portion of a potentially large mineral system.

Exploration is targeting a fourth shallow gold-porphyry centre to support at least a 5 million tonnes per annum operation for 10 years at 0.6% to 1.0% copper equivalent.

A new drilling program is planned to follow-up significant results from the recently completed program.


Metallurgy details

Preliminary metallurgical test work was completed on diamond core from high-grade tourmaline breccia mineralisation at the Altan Tolgoi deposit within the Kharmagtai project.

The metallurgical test work was aimed at producing a float concentrate of copper, gold and silver from the 30 kilogram sample.

Copper recoveries into a rougher concentrate ranged between 93.6% to 95.3%.

Gold recoveries into a rougher concentrate ranged between 93.4% to 95.4%.

Silver recoveries into a rougher concentrate ranged between 86.7% to 89.9%.


Analysis

These early stage flotation test results are exceptional and indicate that a standard crushing, grinding and flotation process is all that will be required to extract all the economic minerals from the tourmaline breccia mineralisation.

Xanadu foresee no significant hurdles to producing a high quality concentrate via standard
processing pathways from the tourmaline breccia mineralisation at Altan Tolgoi.

This bodes well for project economics as the company looks to monetise Kharmagtai’s shallow deposits containing gold-rich copper resources.

Mineralisation at Kharmagtai outcrops at surface and remains open at depth.

The JORC resource is thought to be only a small portion of a large mineral system providing for significant resource upside potential through exploration.

The share price is up 75% year to date, currently trading at $0.195 per share.

Xanadu maintains support from an Australia-wide broker who has a Speculative Buy recommendation and price target of $0.51 per share.

The company remains leveraged to exploration upside with an active exploration program in progress at its Oyut Ulaan copper-gold project also located in Mongolia.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 01 Sep 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165602/xanadu-mines-ltd-achieves-milestone-at-copper-gold-project-70793.html
<![CDATA[News - Xanadu Mines Ltd to drill out potential low cost gold mine ]]> https://www.proactiveinvestors.com.au/companies/news/165601/xanadu-mines-ltd-to-drill-out-potential-low-cost-gold-mine-70646.html Xanadu Mines Ltd (ASX:XAM) has commenced a ramped-up second phase of exploration including 3,000 metres of drilling at its 90% owned Oyut Ulaan copper-gold project located in Mongolia.

Recent diamond drilling confirmed high-grade oxide gold mineralisation extends to depths of at least 25 metres with grades measuring up to 47.2 g/t gold.

Original trenching discovered bonanza grade assays of up to 589.96 g/t gold.

The new drilling will test both strike and vertical extensions of the high-grade epithermal gold mineralisation within a large prospective area that is 4.5 kilometres long and 300 metres wide.

Dr Andrew Stewart, CEO, commented: “This comprehensive program will go a long way to characterising the discovery and allow assessment of the potential for a simple, low-cost mining operation at Oyut Ulaan which could generate meaningful cash flow.”


Oyut Ulaan gold project

The 90% owned Oyut Ulaan project is located within the South Gobi Copper Belt, which hosts the world class Oyu Tolgoi copper-gold project.

Exploration has now discovered at least four zones of gold mineralisation within a prospective area - Stockwork, Bavuu, Diorite and Hulan.

The ongoing exploration at Oyut Ulaan represents an opportunity for Xanadu to define a shallow gold resource capable of being economically mined.


District exploration strategy

In addition to the drill program, the company intends to complete the following exploration work at Oyut Ulaan in 2016:  

- Detailed geologic mapping;
- Detailed metallurgical test work and mineralogical studies to better understand gold mineralisation and alteration and the characteristics of, and controls on, mineralisation;
- Infill geochemical surveys over specific target areas and expand surveys over the entire licence;
- Additional infill magnetic geophysical surveys;
- Additional trenching to test continuity and extent of mineralisation at surface; and
- Various technical studies in support of preliminary economic evaluation including hydrology and
environmental base line studies. 


Diamond drilling details

The most recent drill program of 19 shallow diamond holes tested four areas of gold mineralisation identified by trenching.

Highlights from the diamond drilling include:

- 6.0 metres at 21.57 g/t gold from surface; 
- 6.3 metres at 6.67 g/t gold from 15 metres depth;
- 9.5 metres at 21.06 g/t gold from surface, including 3 metres at 47 g/t gold; and
- 6 metres at 15.43 g/t gold from surface.


Analysis

The fast-tracked second phase of exploration at Oyut Ulaan represents an opportunity for Xanadu to get closer to defining a shallow gold resource capable of being economically mined.

Previous trenching and drilling has already confirmed the presence of multiple zones of high grade gold mineralisation.

With multiple near surface gold targets and exploration in motion, Xanadu remains leveraged to exploration success.

The share price is up 70% year to date, currently trading at $0.19 per share.

Xanadu maintains support from an Australia-wide broker who has a Speculative Buy recommendation and price target of $0.51 per share.

The district exploration that will be running alongside the drilling campaign will provide Xanadu with opportunity for news flow outside of the expected drill assays.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 24 Aug 2016 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165601/xanadu-mines-ltd-to-drill-out-potential-low-cost-gold-mine-70646.html
<![CDATA[News - Xanadu Mines Ltd drills more high-grade gold at Oyut Ulaan ]]> https://www.proactiveinvestors.com.au/companies/news/163512/xanadu-mines-ltd-drills-more-high-grade-gold-at-oyut-ulaan-69539.html Xanadu Mines Ltd (ASX:XAM) has intersected 9.5 metres at 21.06 g/t gold from surface while diamond drilling at its 90% owned Oyut Ulaan copper-gold project in southern Mongolia.

The drilling is testing the continuity of gold mineralisation discovered through trenching within a large prospective area that is 4.5 kilometres long and 300 metres wide.

Gold mineralisation was intersected in all four diamond holes with grades measuring up to 47.2 g/t gold.

A follow-up program of drilling is expected to commence immediately.

Dr Andrew Stewart, CEO, commented: “The new drill results, which include significant intervals of bonanza gold grades provide the evidence we needed to dedicate additional resources to improving our understanding of the controls on mineralisation and start assessing the size potential of this new discovery more thoroughly."


Assay details

Significant assay results from the four diamond drill holes are as follows:

- 9.5 metres at 21.06 g/t gold and 0.16% copper including 3 metres at 47.23 g/t gold from surface;
- 6 metres at 15.43 g/t gold and 0.22% copper including 1.1 metres at 38.8 g/t gold from surface;
- 2 metres at 16.12 g/t gold and 0.09% copper from 15.2 metres; and
- 2.5 metres at 5.75 g/t gold and 0.20% copper from surface.

Trenching has also continued to identify new zones of gold mineralisation yet to be drill tested.

Highlights from Diorite zone trenching include:

- 32 metres at 3.75 g/t gold;
- 18 metres at 1.53 g/t gold; and
- 6 metres at 4.53 g/t gold.


Recent raising

Xanadu recently raised $12.2 million through a placement of shares to continue developing the Kharmagtai copper-gold project and Oyut Ulaan gold project in Mongolia.

The raising received strong support investors and saw new well-regarded institutional investors join the register.


Oyut Ulaan gold project

The 90% owned Oyut Ulaan project is located within the South Gobi Copper Belt, which hosts the world class Oyu Tolgoi copper-gold project, and is 260 kilometres east of Kharmagtai.

Recent drilling has been testing trenched targets, which identified gold assays of up to 589.96 g/t and confirmed the existence of a continuous zone of shallow high grade gold mineralisation.

Exploration has now discovered at least four zones of gold mineralisation within a prospective area - Stockwork, Bavuu, Diorite and Hulan.


Analysis

The ongoing exploration at Oyut Ulaan represents an opportunity for Xanadu to define a shallow gold resource capable of being economically mined.

This particular round of drilling has successfully confirmed the presence of multiple zones of high grade gold mineralisation below previous surface trenching.

By drilling targets identified through previous trenching, which found bonanza gold grades of 589.96 g/t, Xanadu is able to understand the depth of the mineralised zones.

The share price is up 70% year to date, currently trading at $0.19 per share.

Xanadu maintains broker support from Bell Potter who recently upgraded their price target to $0.51 per share.

A follow up drill program is expected and field exploration activities are underway for which results will be released upon completion.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 30 Jun 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163512/xanadu-mines-ltd-drills-more-high-grade-gold-at-oyut-ulaan-69539.html
<![CDATA[News - Xanadu Mines Ltd raises $12.2M for copper gold discoveries in Mongolia ]]> https://www.proactiveinvestors.com.au/companies/news/163511/xanadu-mines-ltd-raises-122m-for-copper-gold-discoveries-in-mongolia-69306.html Xanadu Mines Ltd (ASX:XAM) has raised $12.2 million through a placement of shares at $0.20 to continue developing the Kharmagtai copper-gold project and Oyut Ulaan gold project in Mongolia.

The raising received strong support investors and saw new well-regarded institutional investors join the register.

Dr Andrew Stewart, CEO commented: "Xanadu is in a privileged position with a growing JORC-compliant gold-rich copper resource and new bonanza gold grades.

"The yield from our counter-cyclic approach highlights that now is the time to be leveraged to exploration upside and our discoveries are ready for the next boom."


Kharmagtai porphyry copper-gold project

The 79.5% owned Kharmagtai project is located in south Gobi, Mongolia.

It is an advanced exploration project with a 66 square kilometre mining licence.

Kharmagtai contains a 203 million tonne JORC compliant resource containing 680,000 tonnes of copper and 2.2 million ounces of gold with significant exploration upside.

It is a large porphyry style deposit with multiple near-surface, gold-rich zones and mineralisation outcropping at surface.

The resource represents only a small portion of a potentially large mineral system.

Exploration is targeting a fourth shallow gold-porphyry centre to support at least a 5 million tonnes per annum operation for 10 years at 0.6% to 1.0% copper equivalent.


Oyut Ulaan gold project

The 90% owned Oyut Ulaan project is located within the South Gobi Copper Belt, which hosts the world class Oyu Tolgoi copper-gold project, and is 260 kilometres east of Kharmagtai.

Drilling is underway testing trenched targets, which identified gold assays of up to 589.96 g/t and confirmed the existence of a continuous zone of shallow high grade gold mineralisation.

Exploration has now discovered at least four zones of gold mineralisation within a prospective area - Stockwork, Bavuu, Diorite and Hulan.

The ongoing exploration at Oyut Ulaan represents an opportunity for Xanadu to define a shallow gold resource capable of being economically mined.

By drilling targets identified through previous trenching, which found bonanza gold grades, Xanadu is able to understand the depth of the mineralised zones.


Corporate

Xanadu has received commitments for 60.83 million shares at a price of $0.20 to raise $12.17 million. This will give the company a healthy cash position going forward.

Xanadu maintains broker support from Bell Potter who recently upgraded their price target to $0.51 per share.

Bell Potter maintain a Speculative Buy rating and see Oyut Ulaan as having potential to host viable near surface epithermal gold mineralisation that could potentially represent a separate, modest scale starter project.

The share price is up circa 100% year to date currently trading at $0.22, which is a premium to the placement price.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 20 Jun 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163511/xanadu-mines-ltd-raises-122m-for-copper-gold-discoveries-in-mongolia-69306.html
<![CDATA[News - Xanadu Mines Ltd to reveal raising ]]> https://www.proactiveinvestors.com.au/companies/news/163510/xanadu-mines-ltd-to-reveal-raising-69246.html Mongolian-focused Xanadu Mines Ltd (ASX:XAM) is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

Xanadu has several company making projects within the country.

Recently, Xanadu discovered shallow, high grade gold at its 90% owned Oyut Ulaan copper-gold project, with drilling identifying up to 589.96 g/t gold.

The 79.5% owned Kharmagtai project is located in south Gobi, which contains a 203 million tonne JORC resource with 680,000 tonnes of copper and 2.2 million ounces of gold.

The halt will remain in place until the opening of trade on Monday 20th June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 16 Jun 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163510/xanadu-mines-ltd-to-reveal-raising-69246.html
<![CDATA[News - Xanadu Mines Ltd's drilling underpins gold discovery at Oyut Ulaan ]]> https://www.proactiveinvestors.com.au/companies/news/163509/xanadu-mines-ltds-drilling-underpins-gold-discovery-at-oyut-ulaan-69146.html Xanadu Mines Ltd (ASX:XAM) has discovered more shallow, high grade gold mineralisation from initial drill results at its 90% owned Oyut Ulaan copper-gold project in southern Mongolia.

Drilling is testing trenched targets, which identified gold assays of up to 589.96 g/t and confirmed the existence of a continuous zone of shallow high grade gold mineralisation.

Highlights from the diamond drilling include 6.0 metres grading 21.57 g/t gold from surface and 6.3 metres grading 6.67 g/t gold from 15 metres.

Exploration has now discovered at least four zones of gold mineralisation within a prospective area - Stockwork, Bavuu, Diorite and Hulan.


Dr Andrew Stewart, CEO, commented:

"We are delighted that the first diamond drill results have provided significant advances in our understanding of the gold system and indicate that not only does high grade gold mineralisation occur over significant widths it also occurs within multiple stacked lodes that extend below the current depth of shallow drilling.

"We plan to accelerated exploration of this exciting new discovery at Oyut Ulaan work where initial work is starting to indicate the potential for a modest scale gold starter project.” 


Drill results

Initial scout diamond drilling has focused on the Diorite and Bavuu zones targeting outcropping mineralisation identified by previous trenching.

Drilling at the Breccia Pipe prospect has intersected significant shallow high-grade mineralisation, including 69 metres grading 2.0% copper from surface which includes 12.5 metres grading 5.35% copper from 26 metres.

Exploration has now discovered at least four areas of gold mineralisation within a prospective area that is 4.5 kilometres long and 300 metres wide.


Kharmagtai porphyry copper-gold project

The 79.5% owned Kharmagtai project is located in south Gobi, Mongolia.

It is an advanced exploration project with a 66 square kilometre mining licence.

Kharmagtai contains a 203 million tonne JORC compliant resource containing 680,000 tonnes of copper and 2.2 million ounces of gold with significant exploration upside.

It is a large porphyry style deposit with multiple near-surface, gold-rich zones and mineralisation outcropping at surface.

The resource represents only a small portion of a potentially large mineral system.

Exploration is targeting a fourth shallow gold-porphyry centre to support at least a 5 million tonnes per annum operation for 10 years at 0.6% to 1.0% copper equivalent.


Analysis

The ongoing exploration at Oyut Ulaan represents an opportunity for Xanadu to define a shallow gold resource capable of being economically mined.

By drilling targets identified through previous trenching, which found bonanza gold grades, Xanadu is able to understand the depth of the mineralised zones.
 
The share price is up circa 120% year to date trading around $0.245.

Xanadu maintains broker support from Bell Potter who have a $0.35 price target and Speculative Buy rating.

Further drill results are expected, which will further define the potential for an economic resource at Oyut Ulaan.

Xanadu holds a large strategic position in a world-class copper-gold province with advanced projects offering both scale and high-grade mineralisation.

Xanadu's projects have good proximity to infrastructure and the North Asia market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 09 Jun 2016 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163509/xanadu-mines-ltds-drilling-underpins-gold-discovery-at-oyut-ulaan-69146.html
<![CDATA[News - Xanadu Mines Ltd: Broker maintains Speculative Buy, increases price target ]]> https://www.proactiveinvestors.com.au/companies/news/163508/xanadu-mines-ltd-broker-maintains-speculative-buy-increases-price-target-68513.html Xanadu Mines Ltd (ASX:XAM) is the subject of a research report from Bell Potter. The broker retained its Speculative Buy rating and increased its forward valuation of the company.

Here is a summary of the report:


Oyut Ulaan also has consistent gold-rich mineralisation

XAM’s Oyut Ulaan Project, which is located about 260km east of Kharmagtai, has only had rather sporadic exploration over the past few years as most of XAM’s effort has rightly been directed at Kharmagtai.

Consistently good exploration results at Oyut Ulaan, particularly over the past three months have considerably elevated its status to a highly attractive project.

Successive drilling and related exploration programs at Oyut Ulaan have shown that it contains significant copper-gold mineralisation associated with broadly similar porphyries and related skarn, breccia pipe and stockwork systems to Kharmagtai.

Recent trenching and surface sampling at Oyut Ulaan has identified extensive and consistently high grade gold mineralisation in a large epithermal gold vein zone called the Bavuu Zone that geophysics indicates is within a major zone about 4.5km long and 300m wide.

XAM plans further systematic, cost-effective surface exploration at Oyut Ulaan to define prioritized drilling targets.


Drilling underway again at Kharmagtai with dual focus

Drilling has resumed at Kharmagtai with the dual aim of increasing the shallow high grade (circa 0.8% - 1% copper equivalent) copper-gold porphyry mineralisation (that already contains a Resource of over 2 million ounces of gold) and also evaluating the increasingly significant epithermal gold mineralisation.

XAM’s drilling will target a fourth shallow gold-rich porphyry copper centre and potentially viable near surface low grade epithermal gold targets that could potentially represent a separate, modest scale gold “starter” project.

The epithermal gold mineralisation may be low grade but it is still potentially very attractive given its nature and the low cost environment in Mongolia.


Copper price recovering, gold price moving up decisively

Major copper production cutbacks announced at the end of 2015 have helped to get the market back into better balance, which has resulted in the copper price rebounding by 16% from its low in January 2016.

We continue to believe the medium and longer term supply/demand fundamentals for copper will remain tight, leading to firmer prices.

The gold price has recently moved up very decisively, rising to a 15-month high of over US$1,300 per ounce in response to weakness in the US dollar and the market’s perception that the US will keep interest rates at current levels for a more extended time given subdued growth there.

Gold’s steep rise in recent days suggests there is a renewed interest in the metal from traders and investors in preference to other forms of investment.


Investment thesis: Spec. Buy, Valuation $0.51/sh (prev. $0.35)

Further significant gold exploration results at Oyut Ulaan in particular over the past three months have confirmed its similarity to the gold-rich nature of the highly mineralised porphyry district at Kharmagtai.

Impressive recent results means both districts now host various styles of copper-gold and gold mineralisation that warrant further evaluation, particularly as the occurrences of gold mineralisation show potential to become potential “starter” projects in their own right.

We have revised our equity diluted valuations of XAM to incorporate XAM’s effective increase to 76.5% of Kharmagtai; enhanced gold potential at Oyut Ulaan; and reduced dilution of increased share price on an assumed equity raising over the next year.

Our 12-month forward valuation is raised by 46% to $0.51/sh.

Speculative Buy recommendation retained.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 10 May 2016 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163508/xanadu-mines-ltd-broker-maintains-speculative-buy-increases-price-target-68513.html
<![CDATA[News - Xanadu Mines Ltd discussed world-class copper-gold at Proactive's CEO Spotlight Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/163507/xanadu-mines-ltd-discussed-world-class-copper-gold-at-proactives-ceo-spotlight-sessions-68222.html Xanadu Mines Ltd's (ASX:XAM) Andrew Stewart, CEO, outlined the company's potential company making projects to investors at Proactive's Spotlight CEO Sessions in Melbourne and Sydney this week.

Last month the company trenched bonanza assays of up to 589.96g/t gold from Oyut Ulaan.

Shares in the company have doubled in the past six-weeks.

The company's JORC resource base currently stands at: 203 million tonnes containing 1,500 million pounds of copper and 2.2 million ounces of gold.


ACCESS THE FULL PRESENTATION HERE

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 05 May 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163507/xanadu-mines-ltd-discussed-world-class-copper-gold-at-proactives-ceo-spotlight-sessions-68222.html