Further higher-grade infill drilling results at Stockwork Hill
![Further higher-grade infill drilling results at Stockwork Hill](https://www.goldseiten.de/media/goldseiten-news.jpg)
TORONTO, Aug. 09, 2023 - Xanadu Mines Ltd. (ASX: XAM, TSX: XAM) (Xanadu, XAM or the Company) and its joint venture partner Zijin Mining Group Co. Ltd.. (Zijin) are pleased to announce delivery of further higher-grade drill results during Phase One infill drilling at the Kharmagtai Copper and Gold Project, in preparation for the Prefeasibility Study (PFS).
Highlights
- New infill drilling conducted in preparation for the PFS has returned strong higher-grade results from the Stockwork Hill deposit. Best downhole intersects include:
- KHDDH649 - 424m @ 0.36% eCu (0.26% Cu & 0.21g/t Au) from 126m
Including 72.2m @ 0.72% eCu (0.41% Cu & 0.60g/t Au) from 126m
& 30.2m @ 0.89% eCu (0.50% Cu & 0.76g/t Au) from 168m
& 6m @ 0.96% eCu (0.86% Cu and 0.19g/t Au) from 348m
& 18m @ 0.66% eCu (0.54% Cu and 0.23g/t Au) from 466m - KHDDH650 - 131m @ 0.70% eCu (0.35% Cu & 0.67g/t Au) from 6m
Including 76m @ 0.96% eCu (0.45% Cu & 1.00g/t Au) from 26m
Including 38.5m @ 1.24% Cu (0.51% Cu & 1.44g/t Au) from 58m
& 29m @ 1.00% eCu (0.92% Cu & 0.14g/t Au) from 185m
& 41.7m @ 0.94% eCu (0.53% Cu & 0.81g/t Au) from 347m - KHDDH660 - 421.25m @ 0.48% eCu (0.33% Cu & 0.28 Au) from 152.75m
Including 105m @ 0.84% eCu (0.47% Cu & 0.72g/t Au) from 168m
Including 62m @ 1.05% eCu (0.56% Cu & 0.97g/t Au) from 196.75m - KHDDH653 - 6.2m @ 2.08% eCu (1.42% Cu & 1.31g/t Au) from 183.8m
And 14m @ 0.83% eCu (0.15% Cu & 1.32g/t Au) from 202m - KHDDH655 - 370m @ 0.55% eCu (0.41% Cu & 0.28g/t Au ) from 236m
Including 106m @ 0.80% eCu (0.56% Cu & 0.48g/t Au) from 386m
& 46m @ 0.85% eCu (0.69% Cu & 0.32g/t Au) from 544m
Including 12m @ 1.35% eCu (1.00% Cu & 0.69g/t Au) from 578m
- KHDDH649 - 424m @ 0.36% eCu (0.26% Cu & 0.21g/t Au) from 126m
- Completed Phase 1 drilling has defined and expanded the volume of higher-grade mineralisation within the Stockwork pit, indicating both grade uplift and resource expansion potential.
- Building on recent infill drilling success1,2, these newly identified higher-grade zones are expected to enhance the 2021 Mineral Resource Estimate (MRE), currently an Inferred and Indicated Resource of 1.1Bt containing 3Mt Cu and 8Moz Au (1.98Mt eCu Indicated, 2.33Mt eCu Inferred)3.
- Interim MRE update to be completed early 4Q CY2023, in preparation for Final PFS MRE during 4Q CY2023, which will include results from Phase 2 (now underway).
- Growth-focused discovery exploration drilling at Kharmagtai also continues with 2 diamond rigs; we expect to provide further shallow results, plus first ever deep drilling results during 3Q CY2023.
Xanadu's Executive Chairman and Managing Director, Mr Colin Moorhead, said "Our infill drilling program to support the PFS has progressed safely and efficiently and is continuing to demonstrate results in line with or materially better than the 2021 MRE. Results from this Phase One have continued to show upside to the existing Resource that formed the basis for the 2022 PEA and Scoping Study4. Pleasingly, we've intersected new higher grade zones at Stockwork Hill within the existing Resource boundary, which supports the potential to expand and increase the near-surface high-grade tonnes; a significant value-driver for the open-pit project going forward. Hole KHDDH649 is extremely encouraging, intersecting a high-grade steeply dipping tourmaline breccia, adding at least 120 m vertical extension of known higher grade zones. Not only does it highlight potential for significant grade boosts relative to the existing MRE, but also has dragged high-grade mineralisation closer to surface.
Phase Two drilling, currently underway, is focussed on Golden Eagle, Zephyr and West White Hill, and will also address any outstanding issues arising from Phase One. Phase 2 results will then be combined with the Interim MRE to produce a final PFS Mineral Resource update in Q4 CY2023.
Infill Drilling Results to Date
The Phase One infill drilling program for Stockwork Hill, White Hill and Copper Hill is complete. All infill drilling assay results have now been returned for Stockwork Hill. These results demonstrate that the high-grade tourmaline breccia body within the Resource is larger than previous modelling predicted (Figures 1; Appendix 1). Several holes encountered materially better grade relative to Resource grade. Significant drill intersections from Stockwork Hill, include:
KHDDH649 was drilled to expand upon the recently identified extensions of the tourmaline breccia zone (see ASX/TSX News Release dated 7th June 2023). KHDDH649 intersected a significant interval of 424m @ 0.36% eCu (0.26% Cu & 0.21g/t Au) from 126m, which:
- broadened the shallow, gold-rich Southern Stockwork Zone relative to the 2021 MRE, with 72.2m @ 0.72% eCu (0.41% Cu and 0.60g/t Au) from 126m, and
- expanded the higher-grade tourmaline breccia zone, with 6m @ 0.96% eCu (0.86% Cu and 0.19g/t Au) from 348m and 18m @ 0.66% eCu (0.54% Cu and 0.23g/t Au) from 466m (Figure 2).
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH649 | Stockwork Hill | 26 | 38 | 12 | 0.07 | 0.08 | 0.11 | 0.22 |
and | 50 | 60 | 10 | 0.08 | 0.09 | 0.13 | 0.26 | |
and | 108 | 112 | 4 | 0.14 | 0.11 | 0.18 | 0.36 | |
and | 126 | 550 | 424 | 0.21 | 0.26 | 0.36 | 0.71 | |
including | 126 | 198.2 | 72.2 | 0.60 | 0.41 | 0.72 | 1.40 | |
including | 134.3 | 154 | 19.7 | 0.83 | 0.51 | 0.93 | 1.82 | |
including | 168 | 198.2 | 30.2 | 0.76 | 0.50 | 0.89 | 1.73 | |
including | 186 | 198.2 | 12.2 | 1.10 | 0.69 | 1.25 | 2.44 | |
including | 220 | 226 | 6 | 0.61 | 0.31 | 0.62 | 1.22 | |
including | 276 | 296 | 20 | 0.28 | 0.30 | 0.45 | 0.88 | |
including | 318 | 382 | 64 | 0.15 | 0.41 | 0.48 | 0.94 | |
including | 348 | 378 | 30 | 0.16 | 0.51 | 0.59 | 1.16 | |
including | 348 | 354 | 6 | 0.19 | 0.86 | 0.96 | 1.88 | |
including | 396 | 452 | 56 | 0.12 | 0.27 | 0.33 | 0.64 | |
including | 400 | 404 | 4 | 0.16 | 0.62 | 0.70 | 1.37 | |
including | 466 | 484 | 18 | 0.23 | 0.54 | 0.66 | 1.29 | |
including | 470 | 484 | 14 | 0.25 | 0.60 | 0.73 | 1.42 | |
including | 504 | 514 | 10 | 0.13 | 0.18 | 0.24 | 0.47 |
KHDDH650 was also drilled to expand upon the recently identified extensions of the tourmaline breccia zone. The results from KHDDH650 have broadened the shallow, gold-rich Southern Stockwork Zone, delineating:
- An area of high-grade tourmaline breccia with 29m @ 1.00% eCu (0.92% Cu and 0.14g/t Au) from 185m, where the previous MRE reported 0.1% eCu, and
- A deeper zone of gold-rich stockwork mineralisation with 41.7m @ 0.94% eCu (0.53% Cu and 0.81g/t Au) from 347m, where the previous MRE estimated 0.2 to 0.3% eCu (Figure 3).
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH650 | Stockwork Hill | 6 | 282 | 276 | 0.36 | 0.33 | 0.52 | 1.01 |
including | 6 | 137 | 131 | 0.67 | 0.35 | 0.70 | 1.36 | |
including | 26 | 102 | 76 | 1.00 | 0.45 | 0.96 | 1.88 | |
including | 58 | 96.5 | 38.5 | 1.44 | 0.51 | 1.24 | 2.43 | |
including | 161 | 169 | 8 | 0.11 | 0.29 | 0.35 | 0.68 | |
including | 185 | 214 | 29 | 0.14 | 0.92 | 1.00 | 1.95 | |
including | 187 | 207.3 | 20.3 | 0.16 | 1.16 | 1.24 | 2.43 | |
including | 187 | 205 | 18 | 0.17 | 1.23 | 1.31 | 2.57 | |
including | 264 | 282 | 18 | 0.04 | 0.36 | 0.38 | 0.74 | |
and | 292 | 419 | 127 | 0.33 | 0.28 | 0.46 | 0.89 | |
including | 297 | 320.65 | 23.65 | 0.16 | 0.33 | 0.41 | 0.80 | |
including | 315 | 319 | 4 | 0.36 | 0.72 | 0.90 | 1.76 | |
including | 347 | 388.7 | 41.7 | 0.81 | 0.53 | 0.94 | 1.85 | |
including | 349 | 388.7 | 39.7 | 0.84 | 0.54 | 0.97 | 1.91 | |
including | 353 | 386 | 33 | 0.89 | 0.55 | 1.01 | 1.97 | |
and | 437 | 446.29 | 9.29 | 0.10 | 0.06 | 0.12 | 0.23 |
KHDDH660 was also drilled to expand upon the recently identified extensions of the tourmaline breccia zone. The results from KHDDH660 have broadened the shallow, gold-rich Southern Stockwork Zone, delineating an area of high-grade tourmaline breccia with 62.25m @ 1.05% eCu (0.56% Cu & 0.97g/t Au) from 196.75m, where the previous MRE reported 0.2 to 0.3% eCu (Figure 3).
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH660 | Stockwork Hill | 9 | 15 | 6 | 0.21 | 0.11 | 0.22 | 0.43 |
and | 76 | 111 | 35 | 0.10 | 0.08 | 0.14 | 0.27 | |
and | 152.75 | 574 | 421.25 | 0.28 | 0.33 | 0.48 | 0.93 | |
including | 168 | 273 | 105 | 0.72 | 0.47 | 0.84 | 1.63 | |
including | 172 | 185 | 13 | 0.51 | 0.50 | 0.76 | 1.48 | |
including | 196.75 | 259 | 62.25 | 0.97 | 0.56 | 1.05 | 2.06 | |
including | 211 | 249 | 38 | 1.17 | 0.64 | 1.24 | 2.43 | |
including | 285 | 527 | 242 | 0.16 | 0.36 | 0.44 | 0.87 | |
including | 295 | 299 | 4 | 0.30 | 0.62 | 0.77 | 1.50 | |
including | 315 | 327 | 12 | 0.13 | 0.27 | 0.33 | 0.65 | |
including | 349 | 393 | 44 | 0.13 | 0.72 | 0.79 | 1.54 | |
including | 387 | 391 | 4 | 0.16 | 2.64 | 2.72 | 5.31 | |
including | 403 | 411 | 8 | 0.15 | 0.87 | 0.95 | 1.85 | |
including | 447 | 472 | 25 | 0.31 | 0.33 | 0.49 | 0.96 | |
including | 491 | 497 | 6 | 0.45 | 0.50 | 0.73 | 1.44 | |
and | 559 | 563 | 4 | 0.14 | 0.07 | 0.14 | 0.27 |
KHDDH653 was drilled on the far eastern edge of the 2022 PEA designed open pit. This hole returned a series of narrow high-grade gold and copper intercepts showing mineralisation remains open along from the current MRE:
- 6.2m @ 2.08% eCu (1.42% Cu and 1.31g/t Au) from 183.8m, and
- 14m @ 0.83% eCu (0.15% Cu and 1.32g/t Au) from 202m (Figure 4).
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH653 | Stockwork Hill | 134 | 142 | 8 | 0.12 | 0.06 | 0.12 | 0.23 |
and | 156 | 160 | 4 | 0.04 | 0.09 | 0.11 | 0.22 | |
and | 183.8 | 190 | 6.2 | 1.31 | 1.42 | 2.08 | 4.08 | |
including | 183.8 | 186.3 | 2.5 | 2.62 | 3.11 | 4.45 | 8.70 | |
and | 202 | 216 | 14 | 1.32 | 0.15 | 0.83 | 1.62 | |
including | 210.3 | 214.8 | 4.5 | 3.91 | 0.36 | 2.36 | 4.61 | |
and | 269 | 275 | 6 | 0.23 | 0.02 | 0.14 | 0.27 |
KHDDH655 was drilled to the east of the tourmaline breccia zone, and successfully extended this zone, delivering:
- broad intercept of high-grade tourmaline breccia with 106m @ 0.80% eCu (0.56% Cu and 0.48g/t Au) from 386m, and
- importantly a much deeper zone of high-grade tourmaline breccia extending directly below the planned pit, with 46m @ 0.85% eCu (0.69% Cu and 0.32g/t Au) from 544m, including 12m @ 1.35% eCu (1% Cu and 0.69g/t Au) from 578m (Figure 5).
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH655 | Stockwork Hill | 72 | 78 | 6 | 0.13 | 0.06 | 0.13 | 0.25 |
and | 178 | 210 | 32 | 0.04 | 0.08 | 0.11 | 0.21 | |
and | 236 | 606 | 370 | 0.28 | 0.41 | 0.55 | 1.08 | |
including | 242 | 590 | 348 | 0.29 | 0.43 | 0.58 | 1.13 | |
including | 250 | 254 | 4 | 0.70 | 0.30 | 0.66 | 1.29 | |
including | 296 | 300 | 4 | 0.16 | 0.63 | 0.71 | 1.38 | |
including | 346 | 350 | 4 | 0.41 | 0.44 | 0.65 | 1.27 | |
including | 364 | 376 | 12 | 0.65 | 0.52 | 0.85 | 1.66 | |
including | 386 | 492 | 106 | 0.48 | 0.56 | 0.80 | 1.57 | |
including | 392 | 396 | 4 | 0.58 | 1.15 | 1.44 | 2.82 | |
including | 426 | 450 | 24 | 0.71 | 0.80 | 1.16 | 2.27 | |
including | 522 | 534 | 12 | 0.10 | 0.45 | 0.50 | 0.97 | |
including | 544 | 590 | 46 | 0.32 | 0.69 | 0.85 | 1.66 | |
including | 548 | 554 | 6 | 0.23 | 1.09 | 1.21 | 2.36 | |
including | 578 | 590 | 12 | 0.69 | 1.00 | 1.35 | 2.63 | |
and | 616 | 650 | 34 | 0.10 | 0.16 | 0.21 | 0.41 | |
including | 642 | 648 | 6 | 0.24 | 0.34 | 0.46 | 0.91 | |
and | 672 | 696 | 24 | 0.14 | 0.13 | 0.21 | 0.41 | |
including | 678 | 682 | 4 | 0.17 | 0.26 | 0.35 | 0.68 |
Figure 1: Kharmagtai copper-gold district showing currently defined mineral deposits and planned Phase One Resource infill drill holes.
Figure 2: Cross section through the Stockwork Hill deposit showing drill hole KHDDH649.
Figure 3: Cross section through the Stockwork Hill deposit showing drill hole KHDDH650 and KHDDH660.
Figure 4: Cross section through the Stockwork Hill deposit showing drill hole KHDDH653.
Figure 5: Cross section through the Stockwork Hill deposit showing drill hole KHDDH655.
Extension of Higher Grade Zones at Stockwork Hill Continues
Significantly, drill hole KHDDH649, drilled into the central portion of Stockwork Hill, has encountered higher-grade zones of tourmaline breccia mineralisation (Figure 2), adding vertical extension to known higher grade zones. Principally, drilling intercepted a highly encouraging zone grading 30.2m @ 0.50% Cu and 0.76g/t Au (0.89% eCu) from 168m, significantly exceeding the 2021 MRE block model prediction for 0.3% eCu mineralisation. This intercept is approximately 120m above the closest high-grade tourmaline breccia drilled in this area, highlighting potential for significant grade boosts relative to the existing MRE. Additional drilling is now planned to test for further extensions of these higher-grade zones and aimed for inclusion in the upcoming MRE update.
Next steps
Four diamond drill rigs are currently focussed on Kharmagtai infill drilling, with overarching objective to target areas with potential for future Mineral Resource to Ore Reserve conversion.
The Phase One infill drilling program for Stockwork Hill, White Hill and Copper Hill is complete, with 80 holes completed for a total 33,212m. All results from infill drilling have now been returned for Stockwork Hill. Remaining assay results from White Hill and Copper Hill are expected late August. These results are being interpreted and detailed 3D geological models being updated to provide the basis of an Interim Mineral Resource update. Objective of the Interim MRE is to identify any additional drilling requirements, with the aim of maximising conversion of Inferred to Indicated Resource category, and subsequently maximising conversion to a maiden Ore Reserve, to underpin the PFS.
Phase Two infill drilling is currently underway at Golden Eagle, Zephyr and White Hill West; it is expected to complete mid-August 2023. These results will then be combined with the Interim MRE, with a final PFS Mineral Resource update reported Q4 CY2023.
About the Infill Drilling Program
Kharmagtai currently has an Inferred and Indicated Resource of 1.1Bt containing 3Mt Cu and 8Moz Au . As part of the Kharmagtai PFS, the aim of the infill drilling is to target an upgrade off all currently Inferred material to Indicated Resource classification, enabling a maiden, JORC compliant Ore Reserve to be reported. Additionaly, the infill drilling program is designed to upgrade and extend strike length of the shallow open pit Resource areas and selected deeper high-grade zones (Figure 1), including investigation of near-mine, higher-grade extensions.
About Xanadu Mines
Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large-scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who jointly control a globally significant copper-gold deposit in our flagship Kharmagtai project. Xanadu is the Operator of a 50-50 JV with Zijin Mining Group in Khuiten Metals Pte Ltd, which controls 76.5% of the Kharmagtai project.
For further information on Xanadu, please visit: www.xanadumines.com or contact:
Colin Moorhead
Executive Chairman & Managing Director
E: colin.moorhead@xanadumines.com
P: +61 2 8280 7497
This Announcement was authorised for release by Xanadu's Board of Directors.
Appendix 1: Drilling Results
Note that true widths will generally be narrower than those reported. See disclosure in JORC explanatory statement attached.
Table 1: Drill hole collar
Hole ID | Prospect | East | North | RL | Azimuth (°) | Inc (°) | Depth (m) |
KHDDH607 | Stockwork Hill | 592376 | 4877578 | 1292 | 0 | -60 | 600.1 |
KHDDH608 | Stockwork Hill | 592310 | 4877840 | 1291 | 0 | -55 | 400.0 |
KHDDH609 | Stockwork Hill | 592270 | 4877913 | 1293 | 270 | -60 | 410.0 |
KHDDH610 | Stockwork Hill | 592250 | 4877654 | 1292 | 0 | -60 | 325.0 |
KHDDH611 | Stockwork Hill | 592189 | 4877919 | 1291 | 180 | -70 | 275.0 |
KHDDH612 | Stockwork Hill | 592126 | 4878051 | 1291 | 0 | -60 | 100.0 |
KHDDH613 | Stockwork Hill | 592800 | 4877742 | 1283 | 0 | -90 | 573.6 |
KHDDH614 | Stockwork Hill | 592126 | 4877846 | 1295 | 0 | -60 | 175.0 |
KHDDH615 | Stockwork Hill | 592126 | 4877755 | 1295 | 0 | -60 | 200.0 |
KHDDH621 | Stockwork Hill | 592900 | 4877901 | 1282 | 0 | -70 | 420.7 |
KHDDH628 | Stockwork Hill | 592250 | 4878102 | 1289 | 0 | -60 | 125.0 |
KHDDH629 | Stockwork Hill | 592126 | 4877950 | 1291 | 0 | -60 | 125.0 |
KHDDH647 | Stockwork Hill | 592432 | 4877696 | 1289 | 0 | -60 | 564.5 |
KHDDH649 | Stockwork Hill | 592535 | 4877686 | 1287 | 0 | -60 | 560.0 |
KHDDH650 | Stockwork Hill | 592533 | 4877777 | 1287 | 0 | -60 | 460.1 |
KHDDH652 | Stockwork Hill | 593000 | 4877670 | 1284 | 0 | -60 | 350.0 |
KHDDH653 | Stockwork Hill | 593063 | 4877630 | 1284 | 0 | -60 | 275.0 |
KHDDH654 | Stockwork Hill | 592854 | 4877599 | 1285 | 0 | -60 | 522.5 |
KHDDH655 | Stockwork Hill | 592647 | 4877603 | 1288 | 0 | -60 | 735.0 |
KHDDH660 | Stockwork Hill | 592535 | 4877686 | 1287 | 357 | -60 | 576.6 |
Table 2: Significant drill results
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH607 | Stockwork Hill | 9 | 19 | 10 | 0.03 | 0.13 | 0.15 | 0.30 |
and | 106 | 112 | 6 | 0.06 | 0.10 | 0.13 | 0.26 | |
and | 121.7 | 149 | 27.3 | 0.07 | 0.10 | 0.14 | 0.27 | |
and | 159 | 193 | 34 | 0.04 | 0.09 | 0.11 | 0.22 | |
and | 214.2 | 222 | 7.8 | 0.10 | 0.06 | 0.12 | 0.23 | |
and | 234 | 238 | 4 | 0.09 | 0.07 | 0.11 | 0.22 | |
and | 252 | 284 | 32 | 0.07 | 0.07 | 0.10 | 0.20 | |
and | 296 | 307 | 11 | 0.06 | 0.09 | 0.12 | 0.23 | |
and | 330.85 | 434.9 | 104.05 | 0.08 | 0.27 | 0.31 | 0.61 | |
including | 411 | 433 | 22 | 0.12 | 0.95 | 1.01 | 1.98 | |
including | 426.9 | 431 | 4.1 | 0.24 | 3.82 | 3.94 | 7.71 | |
and | 445 | 449 | 4 | 0.14 | 0.08 | 0.14 | 0.28 | |
and | 492.9 | 501.3 | 8.4 | 0.35 | 0.18 | 0.35 | 0.69 | |
including | 492.9 | 497 | 4.1 | 0.53 | 0.26 | 0.53 | 1.04 | |
and | 512 | 568 | 56 | 0.11 | 0.18 | 0.23 | 0.46 | |
including | 524 | 542 | 18 | 0.11 | 0.25 | 0.30 | 0.59 | |
and | 578 | 586.2 | 8.2 | 0.04 | 0.14 | 0.16 | 0.32 | |
KHDDH608 | Stockwork Hill | 0.35 | 112.5 | 112.15 | 0.27 | 0.21 | 0.35 | 0.68 |
including | 59 | 112.5 | 53.5 | 0.49 | 0.31 | 0.56 | 1.09 | |
including | 99 | 110.2 | 11.2 | 1.26 | 0.56 | 1.21 | 2.36 | |
and | 129.7 | 148 | 18.3 | 0.13 | 0.17 | 0.23 | 0.46 | |
including | 129.7 | 135.87 | 6.17 | 0.29 | 0.31 | 0.46 | 0.89 | |
and | 166 | 270 | 104 | 0.12 | 0.13 | 0.19 | 0.38 | |
including | 224 | 230 | 6 | 0.28 | 0.30 | 0.44 | 0.86 | |
and | 282 | 400 | 118 | 0.07 | 0.13 | 0.16 | 0.32 | |
including | 318 | 322 | 4 | 0.11 | 0.27 | 0.32 | 0.62 | |
KHDDH609 | Stockwork Hill | 10 | 18 | 8 | 0.07 | 0.07 | 0.11 | 0.21 |
and | 28 | 322 | 294 | 0.08 | 0.10 | 0.14 | 0.27 | |
including | 81 | 89 | 8 | 0.06 | 0.21 | 0.24 | 0.46 | |
including | 207 | 237 | 30 | 0.18 | 0.15 | 0.24 | 0.46 | |
and | 334 | 350 | 16 | 0.32 | 0.08 | 0.24 | 0.48 | |
including | 336 | 348 | 12 | 0.39 | 0.08 | 0.28 | 0.54 | |
and | 378 | 394 | 16 | 0.05 | 0.05 | 0.08 | 0.16 | |
KHDDH610 | Stockwork Hill | 3.5 | 46 | 42.5 | 0.06 | 0.10 | 0.13 | 0.25 |
and | 55 | 88 | 33 | 0.08 | 0.11 | 0.15 | 0.29 | |
and | 204 | 212 | 8 | 0.07 | 0.07 | 0.10 | 0.20 | |
and | 294 | 325 | 31 | 0.08 | 0.10 | 0.13 | 0.26 | |
KHDDH611 | Stockwork Hill | 3 | 115 | 112 | 0.10 | 0.09 | 0.14 | 0.28 |
and | 125 | 137 | 12 | 0.13 | 0.06 | 0.12 | 0.24 | |
and | 171.85 | 214 | 42.15 | 0.07 | 0.09 | 0.12 | 0.23 | |
and | 255 | 275 | 20 | 0.04 | 0.11 | 0.13 | 0.26 | |
KHDDH612 | Stockwork Hill | 8 | 98 | 90 | 0.10 | 0.13 | 0.18 | 0.36 |
including | 58 | 68 | 10 | 0.14 | 0.30 | 0.37 | 0.73 | |
KHDDH613 | Stockwork Hill | 17 | 25 | 8 | 0.19 | 0.12 | 0.22 | 0.43 |
and | 39 | 111.35 | 72.35 | 0.08 | 0.13 | 0.17 | 0.34 | |
including | 70.9 | 87.8 | 16.9 | 0.18 | 0.20 | 0.29 | 0.57 | |
including | 97.6 | 106 | 8.4 | 0.14 | 0.26 | 0.33 | 0.64 | |
and | 121 | 495.6 | 374.6 | 0.25 | 0.26 | 0.40 | 0.77 | |
including | 141 | 149 | 8 | 0.14 | 0.18 | 0.25 | 0.49 | |
including | 159 | 180.6 | 21.6 | 0.25 | 0.31 | 0.44 | 0.86 | |
including | 199 | 471 | 272 | 0.30 | 0.31 | 0.46 | 0.90 | |
including | 237 | 285 | 48 | 0.47 | 0.45 | 0.69 | 1.36 | |
including | 409 | 419 | 10 | 0.57 | 0.56 | 0.85 | 1.66 | |
including | 409 | 413 | 4 | 0.80 | 0.80 | 1.21 | 2.37 | |
including | 441 | 451 | 10 | 1.14 | 0.37 | 0.96 | 1.87 | |
including | 443 | 451 | 8 | 1.25 | 0.38 | 1.02 | 1.99 | |
and | 506 | 548 | 42 | 0.47 | 0.41 | 0.66 | 1.28 | |
including | 507.6 | 548 | 40.4 | 0.48 | 0.42 | 0.67 | 1.31 | |
including | 510 | 544 | 34 | 0.53 | 0.45 | 0.72 | 1.41 | |
including | 540 | 544 | 4 | 1.42 | 1.29 | 2.01 | 3.94 | |
KHDDH614 | Stockwork Hill | 2.85 | 39 | 36.15 | 0.09 | 0.09 | 0.14 | 0.27 |
and | 138 | 174 | 36 | 0.08 | 0.10 | 0.14 | 0.28 | |
KHDDH615 | Stockwork Hill | 2.4 | 16 | 13.6 | 0.08 | 0.06 | 0.10 | 0.20 |
and | 28 | 173.8 | 145.8 | 0.15 | 0.13 | 0.21 | 0.40 | |
including | 46 | 68 | 22 | 0.30 | 0.18 | 0.33 | 0.65 | |
including | 84.1 | 102 | 17.9 | 0.22 | 0.21 | 0.32 | 0.63 | |
KHDDH621 | Stockwork Hill | 202 | 214 | 12 | 0.07 | 0.03 | 0.07 | 0.13 |
KHDDH628 | Stockwork Hill | 10 | 22 | 12 | 0.67 | 0.06 | 0.40 | 0.79 |
including | 10 | 18 | 8 | 0.93 | 0.07 | 0.55 | 1.07 | |
and | 32 | 50 | 18 | 0.15 | 0.03 | 0.10 | 0.20 | |
KHDDH629 | Stockwork Hill | 3.3 | 125 | 121.7 | 0.07 | 0.14 | 0.17 | 0.34 |
including | 3.3 | 13 | 9.7 | 0.18 | 0.14 | 0.24 | 0.47 | |
including | 49 | 53 | 4 | 0.16 | 0.44 | 0.51 | 1.01 | |
including | 111 | 121 | 10 | 0.09 | 0.29 | 0.34 | 0.66 | |
KHDDH647 | Stockwork Hill | 5 | 21 | 16 | 0.18 | 0.05 | 0.15 | 0.28 |
and | 94 | 104 | 10 | 0.11 | 0.07 | 0.13 | 0.25 | |
and | 142 | 164 | 22 | 0.08 | 0.07 | 0.11 | 0.22 | |
and | 174 | 211 | 37 | 0.18 | 0.15 | 0.24 | 0.46 | |
including | 184 | 211 | 27 | 0.20 | 0.16 | 0.26 | 0.52 | |
and | 258 | 367 | 109 | 0.12 | 0.25 | 0.31 | 0.61 | |
including | 258 | 278 | 20 | 0.23 | 0.43 | 0.55 | 1.07 | |
including | 258 | 274 | 16 | 0.24 | 0.47 | 0.59 | 1.16 | |
including | 290 | 304 | 14 | 0.12 | 0.21 | 0.28 | 0.54 | |
including | 317 | 332 | 15 | 0.12 | 0.33 | 0.39 | 0.76 | |
including | 349 | 363 | 14 | 0.15 | 0.25 | 0.33 | 0.65 | |
and | 381 | 389 | 8 | 0.04 | 0.20 | 0.22 | 0.44 | |
and | 403 | 409 | 6 | 0.07 | 0.16 | 0.20 | 0.38 | |
and | 423 | 435 | 12 | 0.09 | 0.12 | 0.17 | 0.33 | |
and | 467 | 560 | 93 | 0.23 | 0.12 | 0.23 | 0.46 | |
including | 471 | 485.7 | 14.7 | 0.19 | 0.18 | 0.28 | 0.55 | |
including | 534 | 546 | 12 | 1.04 | 0.17 | 0.70 | 1.38 | |
KHDDH649 | Stockwork Hill | 26 | 38 | 12 | 0.07 | 0.08 | 0.11 | 0.22 |
and | 50 | 60 | 10 | 0.08 | 0.09 | 0.13 | 0.26 | |
and | 108 | 112 | 4 | 0.14 | 0.11 | 0.18 | 0.36 | |
and | 126 | 550 | 424 | 0.21 | 0.26 | 0.36 | 0.71 | |
including | 126 | 198.2 | 72.2 | 0.60 | 0.41 | 0.72 | 1.40 | |
including | 134.3 | 154 | 19.7 | 0.83 | 0.51 | 0.93 | 1.82 | |
including | 168 | 198.2 | 30.2 | 0.76 | 0.50 | 0.89 | 1.73 | |
including | 186 | 198.2 | 12.2 | 1.10 | 0.69 | 1.25 | 2.44 | |
including | 220 | 226 | 6 | 0.61 | 0.31 | 0.62 | 1.22 | |
including | 276 | 296 | 20 | 0.28 | 0.30 | 0.45 | 0.88 | |
including | 318 | 382 | 64 | 0.15 | 0.41 | 0.48 | 0.94 | |
including | 348 | 378 | 30 | 0.16 | 0.51 | 0.59 | 1.16 | |
including | 348 | 354 | 6 | 0.19 | 0.86 | 0.96 | 1.88 | |
including | 396 | 452 | 56 | 0.12 | 0.27 | 0.33 | 0.64 | |
including | 400 | 404 | 4 | 0.16 | 0.62 | 0.70 | 1.37 | |
including | 466 | 484 | 18 | 0.23 | 0.54 | 0.66 | 1.29 | |
including | 470 | 484 | 14 | 0.25 | 0.60 | 0.73 | 1.42 | |
including | 504 | 514 | 10 | 0.13 | 0.18 | 0.24 | 0.47 | |
KHDDH650 | Stockwork Hill | 6 | 282 | 276 | 0.36 | 0.33 | 0.52 | 1.01 |
including | 6 | 137 | 131 | 0.67 | 0.35 | 0.70 | 1.36 | |
including | 26 | 102 | 76 | 1.00 | 0.45 | 0.96 | 1.88 | |
including | 58 | 96.5 | 38.5 | 1.44 | 0.51 | 1.24 | 2.43 | |
including | 161 | 169 | 8 | 0.11 | 0.29 | 0.35 | 0.68 | |
including | 185 | 214 | 29 | 0.14 | 0.92 | 1.00 | 1.95 | |
including | 187 | 207.3 | 20.3 | 0.16 | 1.16 | 1.24 | 2.43 | |
including | 187 | 205 | 18 | 0.17 | 1.23 | 1.31 | 2.57 | |
including | 264 | 282 | 18 | 0.04 | 0.36 | 0.38 | 0.74 | |
and | 292 | 419 | 127 | 0.33 | 0.28 | 0.46 | 0.89 | |
including | 297 | 320.65 | 23.65 | 0.16 | 0.33 | 0.41 | 0.80 | |
including | 315 | 319 | 4 | 0.36 | 0.72 | 0.90 | 1.76 | |
including | 347 | 388.7 | 41.7 | 0.81 | 0.53 | 0.94 | 1.85 | |
including | 349 | 388.7 | 39.7 | 0.84 | 0.54 | 0.97 | 1.91 | |
including | 353 | 386 | 33 | 0.89 | 0.55 | 1.01 | 1.97 | |
and | 437 | 446.29 | 9.29 | 0.10 | 0.06 | 0.12 | 0.23 | |
KHDDH652 | Stockwork Hill | 127.4 | 132 | 4.6 | 0.64 | 0.13 | 0.46 | 0.89 |
and | 194 | 230 | 36 | 0.13 | 0.10 | 0.16 | 0.32 | |
including | 194 | 202 | 8 | 0.26 | 0.11 | 0.25 | 0.48 | |
and | 256 | 280 | 24 | 0.25 | 0.12 | 0.25 | 0.48 | |
and | 298 | 326 | 28 | 0.29 | 0.07 | 0.21 | 0.42 | |
KHDDH653 | Stockwork Hill | 134 | 142 | 8 | 0.12 | 0.06 | 0.12 | 0.23 |
and | 156 | 160 | 4 | 0.04 | 0.09 | 0.11 | 0.22 | |
and | 183.8 | 190 | 6.2 | 1.31 | 1.42 | 2.08 | 4.08 | |
including | 183.8 | 186.3 | 2.5 | 2.62 | 3.11 | 4.45 | 8.70 | |
and | 202 | 216 | 14 | 1.32 | 0.15 | 0.83 | 1.62 | |
including | 210.3 | 214.8 | 4.5 | 3.91 | 0.36 | 2.36 | 4.61 | |
and | 269 | 275 | 6 | 0.23 | 0.02 | 0.14 | 0.27 | |
KHDDH654 | Stockwork Hill | 144 | 158 | 14 | 0.11 | 0.41 | 0.47 | 0.92 |
including | 146 | 158 | 12 | 0.11 | 0.46 | 0.52 | 1.01 | |
including | 154 | 158 | 4 | 0.21 | 0.92 | 1.03 | 2.01 | |
and | 198 | 218 | 20 | 0.02 | 0.06 | 0.07 | 0.15 | |
and | 232 | 242 | 10 | 0.04 | 0.11 | 0.13 | 0.25 | |
and | 256 | 501.1 | 245.1 | 0.11 | 0.23 | 0.29 | 0.56 | |
including | 272 | 279.3 | 7.3 | 0.27 | 0.14 | 0.28 | 0.56 | |
including | 299 | 351 | 52 | 0.13 | 0.28 | 0.35 | 0.68 | |
including | 361 | 439 | 78 | 0.10 | 0.29 | 0.34 | 0.66 | |
including | 367 | 371 | 4 | 0.20 | 0.96 | 1.06 | 2.06 | |
including | 455.2 | 478 | 22.8 | 0.14 | 0.18 | 0.25 | 0.48 | |
including | 488 | 501.1 | 13.1 | 0.08 | 0.27 | 0.31 | 0.60 | |
KHDDH655 | Stockwork Hill | 72 | 78 | 6 | 0.13 | 0.06 | 0.13 | 0.25 |
and | 178 | 210 | 32 | 0.04 | 0.08 | 0.11 | 0.21 | |
and | 236 | 606 | 370 | 0.28 | 0.41 | 0.55 | 1.08 | |
including | 242 | 590 | 348 | 0.29 | 0.43 | 0.58 | 1.13 | |
including | 250 | 254 | 4 | 0.70 | 0.30 | 0.66 | 1.29 | |
including | 296 | 300 | 4 | 0.16 | 0.63 | 0.71 | 1.38 | |
including | 346 | 350 | 4 | 0.41 | 0.44 | 0.65 | 1.27 | |
including | 364 | 376 | 12 | 0.65 | 0.52 | 0.85 | 1.66 | |
including | 386 | 492 | 106 | 0.48 | 0.56 | 0.80 | 1.57 | |
including | 392 | 396 | 4 | 0.58 | 1.15 | 1.44 | 2.82 | |
including | 426 | 450 | 24 | 0.71 | 0.80 | 1.16 | 2.27 | |
including | 522 | 534 | 12 | 0.10 | 0.45 | 0.50 | 0.97 | |
including | 544 | 590 | 46 | 0.32 | 0.69 | 0.85 | 1.66 | |
including | 548 | 554 | 6 | 0.23 | 1.09 | 1.21 | 2.36 | |
including | 578 | 590 | 12 | 0.69 | 1.00 | 1.35 | 2.63 | |
and | 616 | 650 | 34 | 0.10 | 0.16 | 0.21 | 0.41 | |
including | 642 | 648 | 6 | 0.24 | 0.34 | 0.46 | 0.91 | |
and | 672 | 696 | 24 | 0.14 | 0.13 | 0.21 | 0.41 | |
including | 678 | 682 | 4 | 0.17 | 0.26 | 0.35 | 0.68 | |
and | 724 | 734 | 10 | 0.05 | 0.10 | 0.12 | 0.24 | |
KHDDH660 | Stockwork Hill | 9 | 15 | 6 | 0.21 | 0.11 | 0.22 | 0.43 |
and | 76 | 111 | 35 | 0.10 | 0.08 | 0.14 | 0.27 | |
and | 152.75 | 574 | 421.25 | 0.28 | 0.33 | 0.48 | 0.93 | |
including | 168 | 273 | 105 | 0.72 | 0.47 | 0.84 | 1.63 | |
including | 172 | 185 | 13 | 0.51 | 0.50 | 0.76 | 1.48 | |
including | 196.75 | 259 | 62.25 | 0.97 | 0.56 | 1.05 | 2.06 | |
including | 211 | 249 | 38 | 1.17 | 0.64 | 1.24 | 2.43 | |
including | 285 | 527 | 242 | 0.16 | 0.36 | 0.44 | 0.87 | |
including | 295 | 299 | 4 | 0.30 | 0.62 | 0.77 | 1.50 | |
including | 315 | 327 | 12 | 0.13 | 0.27 | 0.33 | 0.65 | |
including | 349 | 393 | 44 | 0.13 | 0.72 | 0.79 | 1.54 | |
including | 387 | 391 | 4 | 0.16 | 2.64 | 2.72 | 5.31 | |
including | 403 | 411 | 8 | 0.15 | 0.87 | 0.95 | 1.85 | |
including | 447 | 472 | 25 | 0.31 | 0.33 | 0.49 | 0.96 | |
including | 491 | 497 | 6 | 0.45 | 0.50 | 0.73 | 1.44 | |
and | 559 | 563 | 4 | 0.14 | 0.07 | 0.14 | 0.27 |
Appendix 2: Statements and Disclaimers
Competent Person Statement
The information in this announcement that relates to Mineral Resources is based on information compiled by Mr Robert Spiers, who is responsible for the Mineral Resource estimate. Mr Spiers is a full time Principal Geologist employed by Spiers Geological Consultants (SGC) and is a Member of the Australian Institute of Geoscientists. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the Qualified Person as defined in the CIM Guidelines and National Instrument 43-101 and as a Competent Person under JORC Code 2012. Mr Spiers consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
The information in this announcement that relates to exploration results is based on information compiled by Dr Andrew Stewart, who is responsible for the exploration data, comments on exploration target sizes, QA/QC and geological interpretation and information. Dr Stewart, who is an employee of Xanadu and is a Member of the Australasian Institute of Geoscientists, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves and the National Instrument 43-101. Dr Stewart consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Mineral Resources and Ore Reserves Reporting Requirements
The 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The Information contained in this Announcement has been presented in accordance with the JORC Code 2012.
The information in this Announcement relates to the exploration results previously reported in ASX Announcements which are available on the Xanadu website at:
https://www.xanadumines.com/site/investor-centre/asx-announcements
The Company is not aware of any new, material information or data that is not included in those market announcements.
Copper Equivalent Calculations
The copper equivalent (eCu) calculation represents the total metal value for each metal, multiplied by the conversion factor, summed and expressed in equivalent copper percentage with a metallurgical recovery factor applied.
Copper equivalent (eCu) grade values were calculated using the formula: eCu = Cu + Au * 0.60049 * 0.86667.
Where Cu - copper grade (%); Au - gold grade (g/t); 0.60049 - conversion factor (gold to copper); 0.86667 - relative recovery of gold to copper (86.67%).
The copper equivalent formula was based on the following parameters (prices are in USD): Copper price 3.4 $/lb; Gold price 1400 $/oz; Copper recovery 90%; Gold recovery 78%; Relative recovery of gold to copper = 78% / 90% = 86.67%.
Forward-Looking Statements
Certain statements contained in this Announcement, including information as to the future financial or operating performance of Xanadu and its projects may also include statements which are 'forward?looking statements' that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These 'forward-looking statements' are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xanadu, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward?looking statements.
Xanadu disclaims any intent or obligation to update publicly or release any revisions to any forward?looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange (ASX) and Toronto Stock Exchange (TSX). The words 'believe', 'expect', 'anticipate', 'indicate', 'contemplate', 'target', 'plan', 'intends', 'continue', 'budget', 'estimate', 'may', 'will', 'schedule' and similar expressions identify forward?looking statements.
All 'forward?looking statements' made in this Announcement are qualified by the foregoing cautionary statements. Investors are cautioned that 'forward?looking statements' are not guarantee of future performance and accordingly investors are cautioned not to put undue reliance on 'forward?looking statements' due to the inherent uncertainty therein.
For further information please visit the Xanadu Mines' Website at www.xanadumines.com.
Appendix 3: Kharmagtai Table 1 (JORC 2012)
Set out below is Section 1 and Section 2 of Table 1 under the JORC Code, 2012 Edition for the Kharmagtai project. Data provided by Xanadu. This Table 1 updates the JORC Table 1 disclosure dated 8 December 2021.
JORC TABLE 1 - SECTION 1 - SAMPLING TECHNIQUES AND DATA
(Criteria in this section apply to all succeeding sections).
Criteria | Commentary |
Sampling techniques |
|
Drilling techniques |
|
Drill sample recovery |
|
Logging |
|
Sub-sampling techniques and sample preparation |
|
Quality of assay data and laboratory tests |
|
Verification of sampling and assaying |
|
Location of data points |
|
Data spacing and distribution |
|
Orientation of data in relation to geological structure |
|
Sample security |
|
Audits or reviews |
|
JORC TABLE 1 - SECTION 2 - REPORTING OF EXPLORATION RESULTS
(Criteria in this section apply to all succeeding sections).
Criteria | Commentary |
Mineral tenement and land tenure status |
|
Exploration done by other parties |
|
Geology |
|
Drill hole Information |
|
Data Aggregation methods |
Copper equivalent (eCu) grade values were calculated using the following formula: eCu = Cu + Au * 0.62097 * 0.8235, Gold Equivalent (eAu) grade values were calculated using the following formula: eAu = Au + Cu / 0.62097 * 0.8235. Where: Cu - copper grade (%) Au - gold grade (g/t) 0.62097 - conversion factor (gold to copper) 0.8235 - relative recovery of gold to copper (82.35%) The copper equivalent formula was based on the following parameters (prices are in USD):
|
Relationship between mineralisation on widths and intercept lengths |
|
Diagrams |
|
Balanced reporting |
|
Other substantive exploration data |
|
Further Work |
|
JORC TABLE 1 - SECTION 3 - ESTIMATION AND REPORTING OF MINERAL RESOURCES
Mineral Resources are not reported so this is not applicable to this Announcement. Please refer to the Company's ASX Announcement dated 8 December 2021 for Xanadu's most recent reported Mineral Resource Estimate and applicable Table 1, Section 3.
JORC TABLE 1 - SECTION 4 - ESTIMATION AND REPORTING OF ORE RESERVES
Ore Reserves are not reported so this is not applicable to this Announcement.
_______________
1 ASX/TSX Announcement 7 June 2023 - New Higher-Grade Zones Found in Kharmagtai Infill Drilling
2 ASX/TSX Announcement 19 July 2023 - New High-Grade Copper-Gold Zone Emerging at White Hill
3 ASX/TSX Announcement 8 December 2021 - Kharmagtai Resource Grows to 1.1 billion Tonnes
4 ASX/TSX Announcement 6 April 2022 - Scoping Study - Kharmagtai Copper-Gold Project
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/7053b9c7-a947-4713-b4fd-2b010af7f23e
https://www.globenewswire.com/NewsRoom/AttachmentNg/b89f0ade-a402-4f4b-ab3a-68b3cb032da8
https://www.globenewswire.com/NewsRoom/AttachmentNg/da17621c-ab67-4180-ab27-c4f8e8ea3059
https://www.globenewswire.com/NewsRoom/AttachmentNg/af5eb9c4-b15c-46bd-891c-6e92539c8e7f
https://www.globenewswire.com/NewsRoom/AttachmentNg/a32b4cee-8612-4d2f-bbd9-2cb69175dec3