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Xanadu Mines (ASX:XAM) - CEO & Executive Director, Dr Andrew Stewart - The Market Herald
CEO & Executive Director, Dr Andrew Stewart
Source: 121 Mining Investment Events
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  • Xanadu Mines (XAM) has accelerated drilling to target high-grade gold mineralisation at Stockwork Hill in the South Gobi region of Mongolia
  • Two diamond drill rigs have begun targeting bornite mineralisation at the Stockwork Hill deposit
  • Drilling is now underway at the site to extend and test the structure, depth and scale of the high-grade bornite mineralisation
  • Results of these holes will further inform phase two of the Kharmagtai exploration program
  • Xanadu Mines is in the grey, last trading at 5.1 cents

Xanadu Mines (XAM) has accelerated drilling to target high-grade gold mineralisation at Stockwork Hill in the South Gobi region of Mongolia.

Xanadu is an exploration company operating in Mongolia, working with large scale copper-gold discoveries and low-cost inventory growth.

Two diamond drill rigs have begun targeting bornite mineralisation at the Stockwork Hill deposit, located on Xanadu’s Kharmagtai porphyry copper and gold project, following Xanadu’s most recent drilling, which encountered the richest mineralisation to date.

The drill program is based on models of the Hugo Dummett deposit at Oyu Tolgoi, and the Ridgeway deposit at Cadia.

Drilling is now underway at the site to extend and test the structure, depth and scale of the high-grade bornite mineralisation. Results of these holes will further inform phase two of the Kharmagtai exploration program, targeting high-grade extensions and new discovery.

“We have moved decisively to follow up the exciting results from drill hole KHDDH559B, which encountered the highest-grade mineralisation seen at Kharmagtai to date," said Xanadu’s Chief Executive Officer Dr Andrew Stewart.

These two drill holes underway have the potential to expand the zone of high-density bornite mineralisation at Kharmagtai, which would confirm that Kharmagtai has not only globally significant scale but also large zones of high-grade gold characteristic of a tier-one copper-gold porphyry deposit,” he continued.

“These holes will also help guide our phase two program which will target additional high-grade extensions and new discoveries at depth.”

Xanadu Mines is in the grey, last trading at 5.1 cents at 3:52 pm AEDT.

XAM by the numbers
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