Xanadu Mines has commenced the second phase of exploration at its Oyut Ulaan Copper-Gold Porphyry Project in the South Gobi region. The program includes around 1500 metres of diamond core drilling, 350 line kilometres of ground magnetics and 1000 metres of trenching.
The drilling will target extensions to the gold-rich porphyry copper mineralization identified by the reconnaissance drilling announced in June. Field work should be completed by early October with results to follow shortly after.
The Oyut Ulaan project is 450km southeast of Ulaanbaatar and about 60km west of the regional centre of Sainshand and the Trans Mongolian Railway. It covers about 40sqkm comprising numerous mineralized porphyry centres.
Between 2001 and 2007 Ivanhoe Mines Mongolia carried out several phases of geological mapping, surface geochemistry, trenching and limited shallow drilling aimed at identifying shallow porphyry mineralization. Between 2009 and 2011 Temujin Mining Corporation drilled several holes which confirmed the presence of gold-rich porphyry mineralization.
Xanadu is an ASX-listed Mongolian exploration company focused on advancing its portfolio of highly prospective copper-gold projects. The company has also partnered with Noble Group of Hong Kong in a coking coal joint venture and hold two thermal coal assets.