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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.

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