Xanadu Mines Ltd (ASX:XAM) (TSE:XAM) chief executive officer and managing director Dr Andrew Stewart tells Proactive about the increasing oxide gold being found following a recent scoping study at the company’s flagship Kharmagtai Copper-Gold Project in Mongolia.
Dr Stewart says the top of the system had oxide gold that had been recognised but because it didn’t have much copper, wasn’t part of the initial resource.
He says Xanadu has started drilling the oxide cap on the back of a successful $3.4 million rights issue with assays returning much higher gold grades than anticipated.
