Xanadu Mines has received high-grade copper/gold results from extension drilling at the Stockwork Hill deposit of the Kharmagtai Copper/Gold Project in Mongolia. Drilling is targeting near-surface extensions of high-grade copper and gold mineralisation along strike from and below the current resources.
The drilling has returned best results of 264 metres from surface @ 0.56% copper and 1.46 g/t gold, including 148 metres @ 0.81% copper and 2.41 g/t gold.’
Results from another hole are expected to represent a significant intersection, leaving a large portion of the high-grade core of the Stockwork Hill deposit open to the northeast and at depth.
Another hole has discovered a new zone of mineralisation, identifying a new target offset from the main body of mineralisation.
Further diamond drilling is being carried out to target high-grade mineralisation.
The Stockwork Hill deposit consists of composite porphyry intrusions hosting high-grade gold-rich porphyry copper mineralisation approximately 800 metres long and 400 metres wide extending from the surface to a depth of at least 600 metres. Mineralisation is open to the north, south, east and at depth.
Xanadu’s managing director and CEO Dr Andrew Stewart said, “We continue to be encouraged by the results of our ongoing extensional drilling program around the current resources at Kharmagtai.
“One hole successfully confirmed our interpretation of consistent higher-grade mineralisation across the mineralised width of the porphyry and increasing gold to copper ratios associated with north-northeast controlling structures.
“We are excited that our targeted drilling program has again confirmed multiple high-grade targets at depth under and adjacent to established resources with visual results in two other holes confirming that a large portion of the high-grade core of the Stockwork Hill deposit is open to the east and at depth.
“These high-grade extensions we have identified now offer us the opportunity to assess Stockwork Hill as a potential large-scale resource which we will be assessing during the remainder of 2017.”