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  • Xanadu Mines (XAM) has found a new extension at its Stockwork Hill deposit within the Kharmagtai porphyry copper and gold project in Mongolia
  • Drill hole KHDDH563 has intersected a broad zone of high-grade gold-rich chalcopyrite and bornite mineralisation
  • Notably, the hole expands high-grade mineralisation 70 metres south and up-dip of the previously reported intercept
  • On the market today, Xanadu is down 4.05 per cent and trading at 7.1 cents per share

Xanadu Mines (XAM) has found a new extension at its Stockwork Hill deposit within the Kharmagtai porphyry copper and gold project, in the South Gobi region of Mongolia.

Drill hole KHDDH563 has intersected a broad zone of high-grade, gold-rich chalcopyrite and bornite mineralisation.

The hole intersected 181.4 metres at 0.68 per cent copper and 1.78g/t of gold (1.59 per cent of copper equivalent) from 648.6 metres, including 92 metres at 1.06 per cent copper and 3.23g/t of gold (2.71 per cent copper equivalent) from 686 metres.

Xanadu says the hole expands high-grade mineralisation 70 metres south and up-dip of the previously reported intercept in hole KHDDH669B.

“We are pleased to report this delivered our expectation of a clear extension of high-grade gold-rich mineralisation along strike and up-dip, outside the current
resource model,” CEO Dr Andrew Stewart said.

“This result further demonstrates the growth potential through the extension of Stockwork Hill, and our team is designing follow-up drilling to test this exciting new zone,” he added.

On the market today, Xanadu is down 4.05 per cent and trading at 7.1 cents per share on 12:41 pm AEDT.

XAM by the numbers
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