Diamond drilling at Xanadu Mines’ Kharmagtai Copper-Gold Project in southern Mongolia has extended mineralisation beneath the maiden resource at White Hill deposit. A drill hole has intersected 850 metres from surface @ 0.32% copper and 0.2 g/t gold, or 0.45% copper equivalent.
Drilling is targeting extensions of copper and gold mineralisation along strike and below the current resources.
Managing director Andrew Stewart said, “We are excited by this new drilling beneath the maiden White Hill resource as it has extended the zone of mineralisation but more significantly, has intersected bornite and extensive potassic alteration which could be the precursor to the discovery of a higher-grade system adjacent to the established resources.”
The 850 metre intersection included 282 metres from 560 metres @ 0.44% copper and 0.16 g/t gold, or 0.55% copper equivalent.
This hole has added over 380 metres of previously unknown mineralisation.
Deeper parts of the hole contained significant potassic alteration and bornite mineralisation, which suggests the hole is vectoring towards deeper, higher grade porphyry copper and gold mineralisation.
Additionally, the hole was terminated within a post mineral dyke indicating mineralisation should be open at depth, below this dyke.
Mineralisation at White Hill is open to the south, east, west and at depth.
The White Hill deposit is one of three porphyry deposits, all nearby each other, that make up the Kharmagtai project.
The deposits have a combined JORC resource of 203 million tonnes @ 0.34% copper and 0.33 g/t gold for around 1.1 million tonnes of copper equivalent.
Unlike the nearby Copper Hill and Stockwork Hill deposits, White Hill has had sparse drilling and there remains good potential for high-grade zones of mineralisation within the current drill pattern.