Xanadu Mines Update on Kharmagtai Porphyry Copper & Gold Project
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Xanadu Mines Update on Kharmagtai Porphyry Copper & Gold Project

Xanadu Mines Ltd has provided final assay results from Drill hole KHDDH565 from the Kharmagtai porphyry copper and gold project in the South Gobi region of

Xanadu Mines Ltd has provided final assay results from Drill hole KHDDH565 from the Kharmagtai porphyry copper and gold project in the South Gobi region of Mongolia. Xanadu’s Chief Executive Officer, Dr Andrew Stewart, said “The laboratories in Ulaanbaatar are back at full capacity and we are excited to update the market with assay results for KHDDH565 to support the visual logs we reported in April. We are very encouraged by the presence of bornite, the style of mineralisation and the length of the intercept. This drill hole expands our interpreted zone of mineralisation along strike and gives us critical information for future targeting. We’re following up now with scissor holes aiming to expand the high grade zone and look forward to reporting those results as soon as available.”

Highlights

  1. Drill hole KHDDH565 expands the higher grade zone of chalcopyrite and bornite mineralisation south of the Stockwork Hill resource both in width and significantly along strike.

  2. KHDDH565 intersects 499m @ 0.31% Cu and 0.39 g/t Au (0.51% eCu) from 656m including 235m @ 0.36% Cu and 0.48g/t Au (0.60% eCu) from 686m & including 101m @ 0.45% Cu and 0.52g/t Au (0.72% eCu) from 728m

  3. While KHDDH565 intersected grades higher than the current resource, this hole passed outside the targeted high grade bornite zone.

  4. Follow ups to KHDDH565 include two scissor holes (KHDDH567 and KHDDH568), which are currently underway targeting the high grade bornite zone

  5. A third diamond drill rig will be added in June 2021. Xanadu will provide a separate ASX/TSX Announcement outlining the Kharmagtai Phase 2 exploration strategy including anticipated near term drill targets.

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