Xanadu Mines Recommences Oyut Ulaan Drilling

THE DRILL SERGEANT: Xanadu Mines (ASX: XAM) has commenced diamond drilling on several near-surface high-priority gold-rich porphyry copper and high-grade epithermal gold targets at the company’s 90 per cent-owned Oyut Ulaan copper-gold district located within the Dornogovi Province of southern Mongolia.

Xanadu Mines explained the new drilling program follows on from a successful exploration program carried out in 2016 that identified potential gold vein mineralisation, which the company believes broadens the range of targets at Oyut Ulaan and opens-up a whole new area for exploration.

During the recent winter months Xanadu’s geology team completed a systematic and detailed review of all existing exploration data across the entire Oyut Ulaan district.

This data was combined with new geophysical data, and modelled in three dimensions generating 47 priority ranked targets ready for drilling in 2017.

Initial drilling will focus on the first four most promising shallow targets followed by testing of some exceptional large scale porphyry targets.

“Our exploration team is keen to pick-up from where we finished off last year and believe further drilling will continue to unlock the true potential of this highly mineralised and underexplored porphyry copper-gold district,” Xanadu Mines managing director and CEO Dr Andrew Stewart said in the company’s announcement to the Australian Securities Exchange.

“Over the winter months we committed substantial time in the preparation and planning for our upcoming drill program at Oyut Ulaan.

“With multiple near surface drill targets, this well considered and prioritised drill program will go a long way to maximise the chance of making the significant discovery we believe exists within the large Oyut Ulaan district.”

Website: www.xanadumines.com