Sign up Australia
Proactive Investors - Run By Investors For Investors

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

The Zaraa porphyry discovery has potential to add to the resource of 1.5 million pounds of copper and 2.2 million ounces of gold.
Drilling at Kharmagtai project
Two further deep drill holes at Zaraa are in copper-gold mineralisation

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.

View full XAM profile View Profile

Xanadu Mines Ltd Timeline

Related Articles

1510744989_Tin-ingots.jpg
July 13 2018
AfriTin listed on AIM with plans to position itself as the African tin champion
Copper on the periodic table
March 08 2018
Historical high-grade ore stockpiles present an early cash flow generation opportunity.
1539311825_azm-ghana-map-jpg-757.jpg
October 12 2018
The company is working with Ibaera Capital to develop its project and bring it into production.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use