Rock chip sampling has identified multiple high grade gold veins at Xanadu Mines’ 90%-owned Oyut Ulaan Copper-Gold Project in southern Mongolia. The results include 305.8 grams/tonne (g/t), 171.6 g/t and 123.2 g/t.

Following the discovery of potentially significant outcropping quartz-sulphide vein and breccia mineralisation at Oyut Ulaan Xanadu has undertaken systematic geological mapping and rock chip sampling. There were 157 rock chip samples collected from outcropping and sub-cropping veins.

The sampling has confirmed the existence of outcropping high grade gold mineralisation occurring within at least three sub-parallel structural zones with 1.5km of each other.

The majority of the new results are from sampling surface outcrops and sub-crops that occur south of known porphyry mineralisation at Diorite Hill and Stockwork Hill, and the style of mineralisation indicates a potential link between known gold-rich porphyry copper mineralisation and newly discovered veins.

Xanadu’s CEO Andrew Stewart says, “It is very exciting to collect true bonanza gold grades from newly discovered mineralisation at Oyut Ulaan. We had the belief the geology displayed all the ingredients required for significant shallow high grade gold mineralisation, which has been confirmed by this surface sampling. The team is now developing plans for accelerated exploration as there is tremendous scope for a very significant discovery in this area.”

Xanadu will continue its systematic, low-cost exploration at Oyut Ulaan with further reconnaissance exploration, field mapping and infill sampling ongoing. A detailed trenching/channel sampling program was immediately initiated to better understand the nature and extent of the gold mineralisation. Xanadu expects to bring the new defined gold prospects to drill-ready status over the coming quarter.

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