Xanadu Mines Achieves Near Surface Copper Gold Results at Red Mountain
THE DRILL SERGEANT: Xanadu Mines (ASX: XAM) reported encounters with copper and gold at the company’s 100 per cent-owned Red Mountain copper and gold project, in the South Gobi region of Mongolia.
Xanadu Mines carried out approx. 4,880 metres of diamond drilling that was designed to test shallow high-grade gold and copper-gold targets across the Red Mountain Lease.
The drilling completed across four prospects hit shallow mineralisation the company considers warranting near term follow-up.
Best intersections include:
EPITHERMAL GOLD EXTENSIONS AT TARGET 33
OUDDH128
41 metres at 1.07 grams per tonne gold from 34m, Including 5m at 2.67g/t gold from 38m and 6m at 2.28g/t gold from 58m; and
OUDDH130
29m at 0.54g/t gold from 4m Including 4.1m at 1.39g/t gold from 18m.
MAIDEN DRILLING FOR HIGH GRADE COPPER SULPHIDE LODES AT NOWIE
OUDDH134
8m at 1 per cent copper and 0.12g/t gold from 267m; and
OUDDH136
14m at 0.75 per cent copper and 0.26g/t gold from 113m.
COPPER GOLD PORPHYRY EXTENSIONS AT TWO PROSPECTS
Target 10 copper sulphide lodes returned:
OUDDH132
4m at 0.85 per cent copper and 1.52g/t gold from 186m and 4m at 0.85 per cent copper and 1.52g/t gold from 186m.
Bavuu Copper-Gold Porphyry Prospect returned
OUDDH137
9.5m at 0.47 per cent copper and 0.21g/t gold from 110.3m.
“We are very pleased with the latest results from the Red Mountain diamond drilling program which tested several shallow gold and copper targets,” Xanadu Mines vice president exploration Dr Andrew Stewart said in the company’s ASX announcement.
“At Target 33 drilling continues to define multiple broad zones of near surface gold mineralisation that remain open a long strike.
“The first drilling at Nowie has been very encouraging returning broad intervals of copper and gold, including several narrower intervals of higher-grade copper demonstrating both scale and grade potential.
“These latest drilling results validate and refine our exploration models providing our exploration team with direction towards a significant discovery at Red Mountain.
“Follow up drilling is planned for the second half of 2024.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE