Multiple New Breakthrough Achievements for Kharmagtai Discovery Drilling
![Multiple New Breakthrough Achievements for Kharmagtai Discovery Drilling](https://www.goldseiten.de/media/goldseiten-news.jpg)
TORONTO, Nov. 16, 2023 - Xanadu Mines Ltd. (ASX: XAM, TSX: XAM) (Xanadu, XAM or the Company) is pleased to provide an update on deep and shallow exploration drilling currently underway at the Kharmagtai Project in Mongolia, being undertaken with the Company's joint venture partner Zijin Mining Group Co. Ltd.. (Zijin). Xanadu's experienced exploration team is currently operating three (3) diamond drill rigs which are focused on delivering new discoveries outside the current Mineral Resource Estimate (MRE) at the Kharmagtai copper and gold project.
Highlights
- New discovery drilling intersects mineralisation across multiple largely unexplored porphyry clusters, including high-density stockwork, breccia and gold only mineralisation.
- The first of four planned deep diamond drillholes targeting mineralisation below White Hill, the largest deposit delineated to date at Kharmagtai, expands the mineralised system by over 600m;
- KHDDH648 - 1080m at 0.21% eCu from 491m.
- Shallow drilling at Cluster 2 extends mineralisation 800m along strike from the current MRE limit. Given proximity to the high-grade Stockwork Hill deposit it could represent a mineralised porphyry stockwork offset.
- KHDDH786 - 144m at 0.34% eCu from 117m;
- Including 12m @ 0.63% eCu from 144m, and
- Including 12.3m @ 0.54% eCu from 168m.
- KHDDH786 - 144m at 0.34% eCu from 117m;
- Multiple new broad zones of gold-rich tourmaline breccia mineralisation delivered over a 2km strike, at Cluster 5.
- Extensive discovery drilling continues with regular news flow to continue throughout 2023, focussed on extensions to known deposits and new porphyry copper gold systems.
Xanadu's Executive Vice President Exploration, Dr Andrew Stewart, said, "Following the completion of more than 52,000 metres of infill and extensional drilling at Kharmagtai, our focus has shifted to the very exciting deep and shallow discovery drilling; aimed at making new economic discoveries outside the current MRE. Following successful delivery of higher-grade mineralisation from the infill and extensional drilling program, this purposeful program represents our most significant exploration pursuit in recent years.
The first of four currently planned deep drill holes, KHDDH648 intercepted an impressive (>1km) porphyry zone, expanding the White Hill mineralised system more than 600m down dip. Importantly this hole has provided important vectors required to target higher-grade mineralisation at depth; 3D geological modelling is underway to refine these vectors, in anticipation for high priority drilling.
These deep drill holes could prove to be a major Kharmagtai value driver; as they are designed to test for high-grade, large-scale systems at depth as seen at the nearby Olu Tolgoi Mine.
Discovery of shallow, broad intercepts of mineralisation along strike from the Stockwork Hill deposit is also very encouraging with drill hole KHDDH786 intersecting a strong and wide (144m) mineralised zone approximately 800m west of Stockwork Hill. Importantly this intercept includes a coherent zone of greater than 0.6% eCu, providing optimism towards discovering another high-grade deposit similar to Copper Hill and Stockwork Hill.
The good strike rate of significant intercepts in these holes provides us confidence that more shallow, high-grade deposits will be discovered at Kharmagtai. As drilling progresses, we look forward to providing additional updates advancing our important exploration activities at our flagship Kharmagtai Project."
About the Shallow Exploration Drilling
Shallow exploration drilling at Kharmagtai is targeting additional porphyry copper-gold deposits outside the currently defined MRE. This programme also serves to inform future infrastructure location decisions associated with the potential development of the Kharmagtai Project into a large-scale mining operation.
An additional 9,000m of diamond drilling has been conducted in forty-one shallow (200m) diamond drill holes since the last update (ASX/TSX Press Release "Shallow Drilling Confirms Kharmagtai Discovery Potential, 5th July 2023") (Figure 1, Tables 1 and 2). Twenty-four of the forty-one new drill holes have returned significant intercepts, with two holes assays pending.
Figure 1: Kharmagtai copper-gold district showing currently defined mineral deposits and planned and completed shallow exploration drill holes. Grey outlines are 2021 scoping study open pit designs and white dashed outlines define porphyry cluster target areas.
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Table 1: Geological characteristics of the five copper-gold and gold clusters.
Cluster | Style | Size | Depth | Host | Max Copper from drilling | Max Gold from drilling | Comments |
Cluster One | Porphyry Stockwork | 1.5km by 1km | Outcrop | Diorite intrusive in siltstone | 2m @ 0.35% Cu | 2m @ 0.74g/t Au | Outcropping high-density sheeted porphyry veining with malachite staining. |
Cluster Two | Porphyry Stockwork and Epithermal Gold | 2km by 1km | Outcrop | Diorite intrusive in sandstone | 2m @ 0.85% Cu | 2m @ 4.17g/t Au | Outcropping high-density sheeted porphyry veining with malachite staining. |
Cluster Three | Porphyry Stockwork and Tourmaline Breccia | 1.5km by 1.5km | Outcrop | Diorite intrusive in siltstone | 1.95m @ 5.38% Cu and 1.15m @ 5.59% Cu | 2m @ 1.06g/t Au | Outcropping porphyry veining and tourmaline breccia with malachite staining. |
Cluster Four | Porphyry Stockwork and Tourmaline Breccia | 3km by 2km | 10m of cover | Diorite intrusive in siltstone | 2m @ 0.69% Cu | 2m @ 1.06g/t Au | Previous broad intercepts of porphyry mineralisation |
Cluster Five | Porphyry Stockwork and Tourmaline Breccia | 3km by 2km | Between 5 and 20m of cover | Diorite Intrusive | 2m @0.72% Cu | 2m @ 1.1g/t Au | Porphyry veining and tourmaline breccia related mineralisation |
New Shallow Drilling Results
Drilling at Cluster Two (Figure 1, 2 and 3) targeted previous shallow porphyry stockwork mineralisation and was prioritised given the area is adjacent to existing planned open pits and planned infrastructure. Drill hole KHDDH786 targeted a previous porphyry intercept (Figure 3) and encountered a broad zone of porphyry mineralisation above the Resource cut-off grade, including a cohesive zone greater than 0.6% eCu mineralisation. Result is significant as it may represent the faulted offset of Stockwork Hill. More drilling is planned to expand this exciting new target.
Significant Intercepts KHDDH786
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH786 | Exploration | 41 | 45 | 4 | 0.64 | 0.01 | 0.34 | 0.66 |
and | 79 | 87 | 8 | 0.24 | 0.00 | 0.13 | 0.25 | |
and | 117 | 261 | 144 | 0.18 | 0.25 | 0.34 | 0.67 | |
including | 127 | 225 | 98 | 0.22 | 0.30 | 0.41 | 0.81 | |
including | 144 | 156 | 12 | 0.31 | 0.47 | 0.63 | 1.23 | |
including | 168 | 180.3 | 12.3 | 0.28 | 0.40 | 0.54 | 1.05 |
Figure 2: Plan view of Cluster 2
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Figure 3: Cross Section Drill Hole KHDDH786.
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At Cluster Three (Figures 1 and 4), a scissor hole was drilled to investigate the previously reported high-grade result from KHDDH622 (15m @ 1.26% Cu, including 5.95m @ 2.97% Cu). Objective of drill hole KHDDH759 was to determine both dip and strike of the structure hosting high-grade copper in KHDDH622. KHDDH759 encountered the mineralised structure in two sections; between 16 to 22m and a secondary narrow mineralised structure between 106.2 and 108.5m, containing 2.3m @ 1.3% Cu.
The mineralised structure near surface was well within the weathering zone and copper is depleted relative to the deeper sulphide zone. Additional drilling is planned along strike, targeting the extensions of the higher-grade sulphide zone.
Figure 4: Cross Section Drill Hole KHDDH759 and KHDDH622.
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Drilling at Cluster Five (Figures 1 and 6) targeted strong copper anomalism at the top of basement approximately 30m below surface and has successfully defined 2km long zone of gold-rich tourmaline breccia (Figure 6). Follow-up drilling is planned to test this large-scale target.
Drill Holes KHDDH761, KHDDH762, KHDDH764 and KHDDH783 (Figure 6) at Cluster Five encountered broad zones of gold dominated tourmaline breccia and porphyry mineralisation, providing evidence of a very large-scale tourmaline breccia. Follow-up drilling is planned to test this exciting large-scale target.
Significant Intercepts KHDDH761, 762, 764 and 783
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH761 | Target Five | 39.5 | 141 | 101.5 | 0.19 | 0.06 | 0.16 | 0.30 |
including | 80 | 88 | 8 | 0.32 | 0.08 | 0.24 | 0.47 | |
including | 98 | 106 | 8 | 0.61 | 0.07 | 0.38 | 0.74 | |
and | 151 | 161 | 10 | 0.12 | 0.06 | 0.12 | 0.24 | |
and | 175 | 225 | 50 | 0.11 | 0.09 | 0.14 | 0.28 | |
and | 235 | 239 | 4 | 0.17 | 0.20 | 0.29 | 0.56 | |
and | 261 | 267.5 | 6.5 | 0.37 | 0.16 | 0.35 | 0.69 | |
and | 277 | 293.85 | 16.85 | 0.23 | 0.10 | 0.22 | 0.43 | |
and | 316 | 337.5 | 21.5 | 0.22 | 0.07 | 0.18 | 0.35 | |
including | 324 | 334 | 10 | 0.28 | 0.09 | 0.24 | 0.46 | |
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH762 | Target Five | 43 | 96.3 | 53.3 | 0.21 | 0.07 | 0.17 | 0.34 |
and | 113.1 | 178.2 | 65.1 | 0.28 | 0.06 | 0.20 | 0.39 | |
including | 129 | 145 | 16 | 0.44 | 0.07 | 0.30 | 0.58 | |
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH764 | Target Five | 56.9 | 67 | 10.1 | 0.27 | 0.11 | 0.25 | 0.48 |
including | 56.9 | 63 | 6.1 | 0.35 | 0.14 | 0.32 | 0.63 | |
and | 129 | 139 | 10 | 0.50 | 0.06 | 0.31 | 0.61 | |
including | 135 | 139 | 4 | 0.80 | 0.07 | 0.48 | 0.93 | |
and | 149.25 | 194 | 44.75 | 0.21 | 0.09 | 0.20 | 0.39 | |
including | 169 | 177 | 8 | 0.53 | 0.21 | 0.48 | 0.94 | |
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH783 | Target Five | 29 | 68 | 39 | 0.06 | 0.08 | 0.11 | 0.22 |
and | 88 | 144 | 56 | 0.08 | 0.15 | 0.19 | 0.37 | |
including | 106 | 110 | 4 | 0.20 | 0.44 | 0.54 | 1.05 | |
and | 194 | 211 | 17 | 0.06 | 0.08 | 0.11 | 0.22 |
Figure 6: Plan view of Cluster Five.
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Several isolated drill holes, distal to defined clusters have encountered broad zones of peripheral porphyry and tourmaline breccia mineralisation; two new high priority targets identified (Figure 7).
Drill holes KHDDH793 and KHDDH795 were drilled targeting shallow top of basement copper geochemical anomalies.
KHDDH793 intercepted a zone of tourmaline breccia (Figure 8) approximately 1km along strike from the Stockwork Hill Tourmaline Breccia. Follow up drilling is planned to expand this shallow intercept and target high-grade tourmaline breccia between KHDDH973 and Stockwork Hill.
Significant Intercepts KHDDH793
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH793 | Exploration | 51 | 63 | 12 | 0.05 | 0.07 | 0.10 | 0.19 |
and | 106 | 126 | 20 | 0.15 | 0.25 | 0.33 | 0.64 | |
including | 110 | 124 | 14 | 0.13 | 0.32 | 0.39 | 0.76 | |
and | 138 | 158 | 20 | 0.10 | 0.08 | 0.13 | 0.26 |
KHDDH795 intercepted a broad zone of low-grade porphyry mineralisation (Figure 9) approximately 1.5km southwest of Golden Eagle Deposit. There is very little drilling in this area and such a broad intercept of mineralisation suggests the presence of a large-scale porphyry in this area. Follow up drilling is planned to expand this shallow intercept.
Significant Intercepts KHDDH795
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH795 | Exploration | 68 | 94 | 26 | 0.03 | 0.07 | 0.09 | 0.17 |
And | 141 | 151 | 10 | 0.11 | 0.11 | 0.17 | 0.33 | |
And | 194.1 | 294 | 99.9 | 0.22 | 0.08 | 0.19 | 0.37 | |
Including | 262 | 279.5 | 17.5 | 0.32 | 0.11 | 0.27 | 0.54 | |
And | 308 | 330 | 22 | 0.13 | 0.06 | 0.13 | 0.25 | |
And | 340 | 435 | 95 | 0.17 | 0.07 | 0.16 | 0.31 | |
Including | 382 | 388 | 6 | 0.35 | 0.17 | 0.35 | 0.68 | |
Including | 404.5 | 410.8 | 6.3 | 0.14 | 0.10 | 0.18 | 0.34 | |
And | 491 | 495 | 4 | 0.17 | 0.06 | 0.15 | 0.30 |
Figure 7: Plan view showing the location of new targets identified by drill holes KHDDH793 and KHDDH795.
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Figure 8: Cross Section Drill Hole KHDDH793.
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Figure 9: Cross Section Drill Hole KHDDH795.
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Large-scale, high-grade exploration programme
Existing geochemical, geological, and geophysical datasets point to known mineralisation at Kharmagtai represents a shallow surface expression of a much larger porphyry system at depth (Figure 10).
Deep drill holes have been designed to ensure that a potential high-grade, large-scale and deeper "Oyu Tolgoi" style deposit is discovered early in the PFS process, allowing optimal infrastructure decisions to be made, without sterilising what could be the major value driver at Kharmagtai (Figure 11).
Drill hole KHDDH648 was designed to test for a large-scale high-grade extension beneath White Hill. KHDDH648 intercepted a very large (+1km) zone of porphyry mineralisation, expanding the White Hill mineralised system more than 600m down dip (Figure 12). This hole has provided the vectors required to target higher-grade mineralisation at depth. 3D geological modelling is underway to refine these vectors for further high priority drilling.
Significant Intercepts KHDDH648
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | eCu (%) | eAu (g/t) |
KHDDH648 | 29 | 123 | 94 | 0.08 | 0.14 | 0.18 | 0.35 | |
including | 99 | 111 | 12 | 0.10 | 0.18 | 0.23 | 0.45 | |
and | 139 | 221 | 82 | 0.04 | 0.12 | 0.14 | 0.28 | |
and | 241 | 269 | 28 | 0.02 | 0.07 | 0.08 | 0.16 | |
and | 287 | 311 | 24 | 0.03 | 0.09 | 0.10 | 0.19 | |
and | 325 | 345 | 20 | 0.03 | 0.13 | 0.14 | 0.28 | |
and | 423.2 | 479 | 55.8 | 0.05 | 0.16 | 0.18 | 0.36 | |
including | 423.2 | 439 | 15.8 | 0.07 | 0.23 | 0.27 | 0.53 | |
including | 451 | 457 | 6 | 0.08 | 0.26 | 0.31 | 0.60 | |
including | 491 | 1571 | 1080 | 0.06 | 0.17 | 0.21 | 0.41 | |
including | 509 | 527 | 18 | 0.07 | 0.27 | 0.31 | 0.60 | |
including | 619 | 707 | 88 | 0.08 | 0.28 | 0.32 | 0.63 | |
including | 627 | 635 | 8 | 0.17 | 0.64 | 0.73 | 1.43 | |
including | 717 | 798 | 81 | 0.09 | 0.29 | 0.34 | 0.66 | |
including | 759 | 763.4 | 4.4 | 0.19 | 0.63 | 0.73 | 1.43 | |
including | 824 | 836 | 12 | 0.07 | 0.20 | 0.24 | 0.47 | |
including | 848 | 872 | 24 | 0.10 | 0.30 | 0.35 | 0.69 | |
including | 964 | 976 | 12 | 0.09 | 0.22 | 0.27 | 0.52 | |
including | 1004 | 1020 | 16 | 0.18 | 0.22 | 0.32 | 0.62 | |
including | 1114.8 | 1124 | 9.2 | 0.06 | 0.20 | 0.24 | 0.46 | |
including | 1160 | 1196 | 36 | 0.07 | 0.24 | 0.28 | 0.55 | |
including | 1269 | 1278 | 9 | 0.13 | 0.29 | 0.35 | 0.69 | |
and | 1440 | 1444 | 4 | 0.12 | 0.24 | 0.30 | 0.59 | |
and | 1589 | 1613 | 24 | 0.06 | 0.08 | 0.11 | 0.21 | |
and | 1623 | 1635 | 12 | 0.06 | 0.07 | 0.10 | 0.20 | |
and | 1689 | 1693 | 4 | 0.07 | 0.10 | 0.13 | 0.25 | |
and | 1703 | 1737 | 34 | 0.11 | 0.03 | 0.09 | 0.18 | |
and | 1761 | 1769.3 | 8.3 | 0.22 | 0.19 | 0.30 | 0.59 | |
and | 1828 | 1840 | 12 | 0.07 | 0.08 | 0.12 | 0.23 | |
and | 1876 | 1912 | 36 | 0.27 | 0.12 | 0.25 | 0.50 | |
and | 1902 | 1912 | 10 | 0.13 | 0.24 | 0.31 | 0.60 | |
and | 1928 | 1964 | 36 | 0.05 | 0.06 | 0.09 | 0.17 | |
and | 2029 | 2048.3 | 19.3 | 0.08 | 0.02 | 0.07 | 0.13 | |
and | 2115.8 | 2124 | 8.2 | 0.35 | 0.05 | 0.23 | 0.44 |
Figure 10: Long Sections through the Oyu Tolgoi Porphyry System and The Kharmagtai Porphyry System. Deep high-grade exploration drill program geochemical zonation points to much larger system beneath Kharmagtai.
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Figure 11: Kharmagtai copper-gold district showing currently defined mineral deposits and planned deep exploration holes.
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Figure 12: Cross Section and level plan showing KHDDH648 beneath White Hill
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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) |
KHDDH648 | Exploration | 591207 | 4876617 | 1318 | 30 | -70 | 2329.3 |
KHDDH759 | Exploration | 593445 | 4874259 | 1292 | 135 | -58 | 219.0 |
KHDDH760 | Exploration | 596805 | 4876930 | 1272 | 315 | -60 | 250.0 |
KHDDH761 | Exploration | 597087 | 4877219 | 1266 | 315 | -60 | 369.5 |
KHDDH762 | Exploration | 597943 | 4877488 | 1265 | 315 | -60 | 205.7 |
KHDDH763 | Exploration | 597655 | 4877395 | 1262 | 315 | -60 | 200.0 |
KHDDH764 | Exploration | 598109 | 4877537 | 1266 | 315 | -60 | 210.5 |
KHDDH765 | Exploration | 598332 | 4877850 | 1265 | 315 | -60 | 200.0 |
KHDDH766 | Exploration | 596305 | 4876949 | 1272 | 315 | -60 | 200.0 |
KHDDH767 | Exploration | 597797 | 4878235 | 1262 | 315 | -60 | 200.0 |
KHDDH768 | Exploration | 597974 | 4876374 | 1284 | 315 | -60 | 210.0 |
KHDDH769 | Exploration | 595825 | 4876189 | 1276 | 315 | -60 | 200.0 |
KHDDH770 | Exploration | 598779 | 4877433 | 1274 | 315 | -60 | 200.0 |
KHDDH771 | Exploration | 595262 | 4875925 | 1274 | 315 | -60 | 200.0 |
KHDDH772 | Exploration | 598083 | 4876458 | 1286 | 315 | -60 | 200.0 |
KHDDH773 | Exploration | 597536 | 4878223 | 1262 | 315 | -60 | 200.0 |
KHDDH774 | Exploration | 596778 | 4877943 | 1266 | 315 | -60 | 200.0 |
KHDDH775 | Exploration | 597306 | 4878213 | 1263 | 315 | -60 | 200.0 |
KHDDH776 | Exploration | 596562 | 4878738 | 1264 | 315 | -60 | 200.0 |
KHDDH777 | Exploration | 596296 | 4878513 | 1265 | 315 | -60 | 200.0 |
KHDDH778 | Exploration | 596093 | 4878438 | 1266 | 315 | -60 | 200.0 |
KHDDH780 | Exploration | 595801 | 4878235 | 1265 | 315 | -60 | 200.0 |
KHDDH781 | Exploration | 598555 | 4878772 | 1264 | 315 | -60 | 200.0 |
KHDDH782 | Exploration | 598301 | 4878241 | 1264 | 315 | -60 | 200.0 |
KHDDH783 | Exploration | 598864 | 4877631 | 1271 | 315 | -60 | 215.6 |
KHDDH784 | Exploration | 599083 | 4877646 | 1275 | 315 | -60 | 279.5 |
KHDDH785 | Exploration | 591415 | 4878081 | 1294 | 0 | -60 | 200.0 |
KHDDH786 | Exploration | 591256 | 4878095 | 1294 | 315 | -60 | 300.0 |
KHDDH787 | Exploration | 599204 | 4877781 | 1284 | 315 | -60 | 200.0 |
KHDDH788 | Exploration | 591099 | 4878042 | 1294 | 0 | -60 | 222.5 |
KHDDH789 | Exploration | 597993 | 4877166 | 1268 | 315 | -60 | 276.9 |
KHDDH790 | Exploration | 597927 | 4877057 | 1267 | 315 | -60 | 214.5 |
KHDDH791 | Exploration | 597758 | 4876919 | 1265 | 315 | -60 | 247.0 |
KHDDH792 | Exploration | 590809 | 4877992 | 1299 | 315 | -60 | 221.5 |
KHDDH793 | Exploration | 593706 | 4877021 | 1283 | 315 | -60 | 232.0 |
KHDDH794 | Exploration | 597193 | 4876330 | 1275 | 0 | -60 | 200.0 |
KHDDH795 | Exploration | 594260 | 4875729 | 1285 | 315 | -60 | 498.4 |
KHDDH796 | Exploration | 595818 | 4874725 | 1292 | 315 | -60 | 93.0 |
KHDDH797 | Exploration | 596531 | 4875896 | 1282 | 315 | -60 | 200.0 |
KHDDH798 | Exploration | 594900 | 4875664 | 1278 | 315 | -60 | 200.0 |
KHDDH799 | Exploration | 591077 | 4874898 | 1326 | 315 | -60 | 200.0 |
KHDDH800 | Exploration | 590011 | 4874691 | 1347 | 315 | -60 | 201.0 |
Table 2: Significant drill results
Hole ID | Prospect | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | CuEq (%) | AuEq (g/t) |
KHDDH648 | 29 | 123 | 94 | 0.08 | 0.14 | 0.18 | 0.35 | |
including | 99 | 111 | 12 | 0.10 | 0.18 | 0.23 | 0.45 | |
and | 139 | 221 | 82 | 0.04 | 0.12 | 0.14 | 0.28 | |
and | 241 | 269 | 28 | 0.02 | 0.07 | 0.08 | 0.16 | |
and | 287 | 311 | 24 | 0.03 | 0.09 | 0.10 | 0.19 | |
and | 325 | 345 | 20 | 0.03 | 0.13 | 0.14 | 0.28 | |
and | 423.2 | 479 | 55.8 | 0.05 | 0.16 | 0.18 | 0.36 | |
including | 423.2 | 439 | 15.8 | 0.07 | 0.23 | 0.27 | 0.53 | |
including | 451 | 457 | 6 | 0.08 | 0.26 | 0.31 | 0.60 | |
including | 491 | 1571 | 1080 | 0.06 | 0.17 | 0.21 | 0.41 | |
including | 509 | 527 | 18 | 0.07 | 0.27 | 0.31 | 0.60 | |
including | 619 | 707 | 88 | 0.08 | 0.28 | 0.32 | 0.63 | |
including | 627 | 635 | 8 | 0.17 | 0.64 | 0.73 | 1.43 | |
including | 717 | 798 | 81 | 0.09 | 0.29 | 0.34 | 0.66 | |
including | 759 | 763.4 | 4.4 | 0.19 | 0.63 | 0.73 | 1.43 | |
including | 824 | 836 | 12 | 0.07 | 0.20 | 0.24 | 0.47 | |
including | 848 | 872 | 24 | 0.10 | 0.30 | 0.35 | 0.69 | |
including | 964 | 976 | 12 | 0.09 | 0.22 | 0.27 | 0.52 | |
including | 1004 | 1020 | 16 | 0.18 | 0.22 | 0.32 | 0.62 | |
including | 1114.8 | 1124 | 9.2 | 0.06 | 0.20 | 0.24 | 0.46 | |
including | 1160 | 1196 | 36 | 0.07 | 0.24 | 0.28 | 0.55 | |
including | 1269 | 1278 | 9 | 0.13 | 0.29 | 0.35 | 0.69 | |
and | 1440 | 1444 | 4 | 0.12 | 0.24 | 0.30 | 0.59 | |
and | 1589 | 1613 | 24 | 0.06 | 0.08 | 0.11 | 0.21 | |
and | 1623 | 1635 | 12 | 0.06 | 0.07 | 0.10 | 0.20 | |
and | 1689 | 1693 | 4 | 0.07 | 0.10 | 0.13 | 0.25 | |
and | 1703 | 1737 | 34 | 0.11 | 0.03 | 0.09 | 0.18 | |
and | 1761 | 1769.3 | 8.3 | 0.22 | 0.19 | 0.30 | 0.59 | |
and | 1828 | 1840 | 12 | 0.07 | 0.08 | 0.12 | 0.23 | |
and | 1876 | 1912 | 36 | 0.27 | 0.12 | 0.25 | 0.50 | |
and | 1902 | 1912 | 10 | 0.13 | 0.24 | 0.31 | 0.60 | |
and | 1928 | 1964 | 36 | 0.05 | 0.06 | 0.09 | 0.17 | |
and | 2029 | 2048.3 | 19.3 | 0.08 | 0.02 | 0.07 | 0.13 | |
and | 2115.8 | 2124 | 8.2 | 0.35 | 0.05 | 0.23 | 0.44 | |
KHDDH759 | Target 10 | 6 | 28 | 22 | 0.01 | 0.20 | 0.20 | 0.39 |
including | 16 | 22 | 6 | 0.01 | 0.41 | 0.41 | 0.81 | |
and | 38 | 52 | 14 | 0.01 | 0.13 | 0.13 | 0.26 | |
and | 92 | 97 | 5 | 0.03 | 0.13 | 0.15 | 0.28 | |
and | 106.2 | 118 | 11.8 | 0.01 | 0.29 | 0.30 | 0.58 | |
KHDDH760 | Exploration | 189 | 198.9 | 9.9 | 0.03 | 0.13 | 0.15 | 0.28 |
KHDDH761 | Exploration | 39.5 | 141 | 101.5 | 0.19 | 0.06 | 0.16 | 0.30 |
including | 80 | 88 | 8 | 0.32 | 0.08 | 0.24 | 0.47 | |
including | 98 | 106 | 8 | 0.61 | 0.07 | 0.38 | 0.74 | |
and | 151 | 161 | 10 | 0.12 | 0.06 | 0.12 | 0.24 | |
and | 175 | 225 | 50 | 0.11 | 0.09 | 0.14 | 0.28 | |
and | 235 | 239 | 4 | 0.17 | 0.20 | 0.29 | 0.56 | |
and | 261 | 267.5 | 6.5 | 0.37 | 0.16 | 0.35 | 0.69 | |
and | 277 | 293.85 | 16.85 | 0.23 | 0.10 | 0.22 | 0.43 | |
and | 316 | 337.5 | 21.5 | 0.22 | 0.07 | 0.18 | 0.35 | |
including | 324 | 334 | 10 | 0.28 | 0.09 | 0.24 | 0.46 | |
KHDDH762 | Exploration | 43 | 96.3 | 53.3 | 0.21 | 0.07 | 0.17 | 0.34 |
and | 113.1 | 178.2 | 65.1 | 0.28 | 0.06 | 0.20 | 0.39 | |
including | 129 | 145 | 16 | 0.44 | 0.07 | 0.30 | 0.58 | |
KHDDH763 | Exploration | 173 | 179 | 6 | 0.21 | 0.01 | 0.12 | 0.23 |
KHDDH764 | Exploration | 56.9 | 67 | 10.1 | 0.27 | 0.11 | 0.25 | 0.48 |
including | 56.9 | 63 | 6.1 | 0.35 | 0.14 | 0.32 | 0.63 | |
and | 129 | 139 | 10 | 0.50 | 0.06 | 0.31 | 0.61 | |
including | 135 | 139 | 4 | 0.80 | 0.07 | 0.48 | 0.93 | |
and | 149.25 | 194 | 44.75 | 0.21 | 0.09 | 0.20 | 0.39 | |
including | 169 | 177 | 8 | 0.53 | 0.21 | 0.48 | 0.94 | |
KHDDH765 | Exploration | 144 | 150.5 | 6.5 | 0.29 | 0.12 | 0.27 | 0.52 |
KHDDH766 | Exploration | No significant intercepts | ||||||
KHDDH767 | Exploration | No significant intercepts | ||||||
KHDDH768 | Exploration | No significant intercepts | ||||||
KHDDH769 | Exploration | No significant intercepts | ||||||
KHDDH770 | Exploration | 42 | 48 | 6 | 0.31 | 0.03 | 0.19 | 0.38 |
and | 70 | 84 | 14 | 0.03 | 0.12 | 0.14 | 0.27 | |
and | 94 | 148 | 54 | 0.06 | 0.10 | 0.13 | 0.25 | |
and | 181 | 194 | 13 | 0.07 | 0.05 | 0.08 | 0.16 | |
KHDDH771 | Exploration | 39 | 65.5 | 26.5 | 0.30 | 0.04 | 0.19 | 0.38 |
and | 76 | 86.9 | 10.9 | 0.18 | 0.06 | 0.15 | 0.29 | |
and | 108 | 123.4 | 15.4 | 0.13 | 0.12 | 0.18 | 0.35 | |
KHDDH772 | Exploration | 41.3 | 51 | 9.7 | 0.19 | 0.05 | 0.15 | 0.29 |
KHDDH773 | Exploration | No significant intercepts | ||||||
KHDDH774 | Exploration | 92.2 | 107 | 14.8 | 0.44 | 0.01 | 0.23 | 0.46 |
KHDDH775 | Exploration | No significant intercepts | ||||||
KHDDH776 | Exploration | No significant intercepts | ||||||
KHDDH777 | Exploration | No significant intercepts | ||||||
KHDDH778 | Exploration | No significant intercepts | ||||||
KHDDH780 | Exploration | No significant intercepts | ||||||
KHDDH781 | Exploration | No significant intercepts | ||||||
KHDDH782 | Exploration | No significant intercepts | ||||||
KHDDH783 | Exploration | 29 | 68 | 39 | 0.06 | 0.08 | 0.11 | 0.22 |
and | 88 | 144 | 56 | 0.08 | 0.15 | 0.19 | 0.37 | |
including | 106 | 110 | 4 | 0.20 | 0.44 | 0.54 | 1.05 | |
and | 194 | 211 | 17 | 0.06 | 0.08 | 0.11 | 0.22 | |
KHDDH784 | Exploration | 224 | 228 | 4 | 0.19 | 0.09 | 0.18 | 0.36 |
and | 274 | 279.6 | 5.6 | 0.12 | 0.08 | 0.14 | 0.27 | |
KHDDH785 | Exploration | No significant intercepts | ||||||
KHDDH786 | Exploration | 41 | 45 | 4 | 0.64 | 0.01 | 0.34 | 0.66 |
and | 79 | 87 | 8 | 0.24 | 0.00 | 0.13 | 0.25 | |
and | 117 | 261 | 144 | 0.18 | 0.25 | 0.34 | 0.67 | |
including | 127 | 225 | 98 | 0.22 | 0.30 | 0.41 | 0.81 | |
including | 144 | 156 | 12 | 0.31 | 0.47 | 0.63 | 1.23 | |
including | 168 | 180.3 | 12.3 | 0.28 | 0.40 | 0.54 | 1.05 | |
KHDDH787 | Exploration | 22 | 38 | 16 | 0.14 | 0.12 | 0.19 | 0.37 |
including | 32 | 38 | 6 | 0.27 | 0.26 | 0.40 | 0.78 | |
and | 56 | 70 | 14 | 0.10 | 0.13 | 0.18 | 0.35 | |
and | 86 | 95 | 9 | 0.05 | 0.12 | 0.14 | 0.28 | |
and | 128 | 138 | 10 | 0.12 | 0.06 | 0.13 | 0.25 | |
and | 188 | 199 | 11 | 0.07 | 0.07 | 0.11 | 0.21 | |
KHDDH788 | Exploration | 141 | 145 | 4 | 0.18 | 0.03 | 0.12 | 0.23 |
KHDDH789 | Exploration | 80 | 85 | 5 | 0.18 | 0.05 | 0.14 | 0.27 |
and | 271 | 275 | 4 | 0.18 | 0.05 | 0.14 | 0.27 | |
KHDDH790 | Exploration | 112 | 134 | 22 | 0.06 | 0.04 | 0.07 | 0.13 |
KHDDH791 | Exploration | Assays pending | ||||||
KHDDH792 | Exploration | 24 | 30 | 6 | 0.03 | 0.14 | 0.15 | 0.30 |
and | 123 | 130.9 | 7.9 | 0.04 | 0.07 | 0.09 | 0.18 | |
and | 172 | 184 | 12 | 0.05 | 0.07 | 0.10 | 0.19 | |
and | 204 | 214 | 10 | 0.07 | 0.07 | 0.11 | 0.22 | |
KHDDH793 | Exploration | 51 | 63 | 12 | 0.05 | 0.07 | 0.10 | 0.19 |
and | 106 | 126 | 20 | 0.15 | 0.25 | 0.33 | 0.64 | |
including | 110 | 124 | 14 | 0.13 | 0.32 | 0.39 | 0.76 | |
and | 138 | 158 | 20 | 0.10 | 0.08 | 0.13 | 0.26 | |
KHDDH794 | Exploration | No significant intercepts | ||||||
KHDDH795 | Exploration | 68 | 94 | 26 | 0.03 | 0.07 | 0.09 | 0.17 |
and | 141 | 151 | 10 | 0.11 | 0.11 | 0.17 | 0.33 | |
and | 194.1 | 294 | 99.9 | 0.22 | 0.08 | 0.19 | 0.37 | |
including | 262 | 279.5 | 17.5 | 0.32 | 0.11 | 0.27 | 0.54 | |
and | 308 | 330 | 22 | 0.13 | 0.06 | 0.13 | 0.25 | |
and | 340 | 435 | 95 | 0.17 | 0.07 | 0.16 | 0.31 | |
including | 382 | 388 | 6 | 0.35 | 0.17 | 0.35 | 0.68 | |
including | 404.5 | 410.8 | 6.3 | 0.14 | 0.10 | 0.18 | 0.34 | |
and | 491 | 495 | 4 | 0.17 | 0.06 | 0.15 | 0.30 | |
KHDDH796 | Exploration | No significant intercepts | ||||||
KHDDH797 | Exploration | 161 | 165 | 4 | 0.48 | 0.02 | 0.26 | 0.51 |
KHDDH798 | Exploration | 14 | 28 | 14 | 0.09 | 0.09 | 0.13 | 0.26 |
and | 134 | 154 | 20 | 0.04 | 0.13 | 0.15 | 0.29 | |
KHDDH799 | Exploration | Assays pending | ||||||
KHDDH800 | Exploration | Assays pending |
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 (CuEq) 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 (CuEq) grade values were calculated using the formula: CuEq = 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 2: 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 7 June 2023.
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 sCuEqrity |
|
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 (CuEq) grade values were calculated using the following formula: CuEq = 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 1 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.