Xanadu Mines discovers gold-rich porphyry with diamond drilling
Xanadu Mines has discovered new porphyry named “AltanBurged” with its first diamond hole within the Kharmagtai copper-gold district, in the South Gobi region of Mongolia.
Xanadu Mines discovers gold-rich porphyry with diamond drilling. Xanadu Mines has discovered new porphyry named “AltanBurged” with its first diamond hole within the Kharmagtai copper-gold district, in the South Gobi region of Mongolia. Drill hole intersected 220 meters at 0.64 grams per ton gold and 0.15% copper including 26 meters at 2.27 grams per ton gold from 42 meters. The 26 meters section is shallow higher-grade gold mineralization hosted in oxide cap above the mineralized porphyry. Drilling will continue to determine the near surface oxide enrichment zone and locate the highest-grade primary portions of this new porphyry discovery atKharmagtai. “The results of this first diamond drill hole are very exciting” said by the managing director, Dr Andrew Stewart. The discovery of a new porphyry centre under cover adds further weight to the geological model for the Kharmagtai district as an emerging porphyry district comprising multiple centers of copper-gold and gold mineralization. Xanadu is the owner of Mongolia’s largest undeveloped copper-gold deposit, has committed to spending more than $4.5 million on exploration across its advanced porphyry copper-gold projects in the world class South Gobi porphyry Belt in 2017.
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