Given Kharmagtai hosts a large-scale deeper copper-gold resource, this low-cost drilling program aims to delineate a shallow gold resource to act as a potential start operation.
An initial development of an oxide gold operation would be focused exclusively on mining and processing near-surface resources.
A total of drill holes have been designed to test several sections across the oxide cap and several holes to test beneath extremely high-grade gold at surface along strike.
Stockwork Hill is one of multiple gold oxide targets within the Kharmagtai mining licence
Xanadu’s CEO Dr Andrew Stewart said: “We are excited about the opportunity for a near term, low-cost, high-value oxide gold project at Kharmagtai to fund further exploration and development of the large-scale copper gold project.
“Kharmagtai sits on a granted mining lease with a registered water resource and an established power supply nearby.
“We have the ability to move quickly on an oxide gold project.
“This first round of drilling is designed to quickly and cheaply test the concept and confirm the tenor of the oxide cap we know is above the established sulphide copper-gold resources.”
Three of the eight planned drill holes at the Stockwork Hill target