Drilling by Xanadu Mines at the Kharmagtai Copper-Gold Project in southern Mongolia has defined a new zone of high-grade mineralisation at the Stockwork Hill deposit. This deposit is growing rapidly below the current resource and is open in virtually all directions.
One diamond hole defined new stockwork mineralisation and returned a 234 metre intersection at grades of 0.57% copper and 1.04 g/t gold from 466 metres. It included 118 metres from 536 metres @ 0.72% copper and 1.54 g/t gold, which in turn included 88 metres from 536 metres @ 0.87% copper and 1.91 g/t gold. The intercept was open downhole.
Another hole intersected a broad zone of breccia mineralisation. It returned 212 metres from 333 metres @ 0.36% copper and 0.38 g/t gold, including 102 metres from 385 metres @ 0.53% copper and 0.56 g/t gold. This, in turn, including 28 metres from 587 metres @ 0.54% copper and 0.2 g/t gold. This intercept was also open downhole.
The drilling and detailed infill mapping is demonstrating the increased scale of the mineralised system with exceptional depth continuity.
Xanadu’s managing director and CEO Dr Andrew Stewart said, “The quality of Kharmagtai continues to be demonstrated by these positive drill results. The latest drilling, which is targeting high-grade mineralisation at Stockwork Hill, reaffirms our belief in the potential for this mineral system to host a large-scale high-grade copper-gold deposit.
“What really excites our geology team is that the host breccia contains fragments of mineralised porphyry providing strong evidence of a deeper undiscovered porphyry system below these targets while the increasing presence of bornite sulphide mineralisation indicates we are getting closer to the core of the system.
“We look forward to drilling beneath the zone of chalcopyrite-gold breccia mineralisation testing for the breccia complex transition downward into another mineralised porphyry at depth.”