Xanadu Mines targets copper-gold porphyry with new drilling in Mongolia
Xanadu Mines (ASX:XAM) has commenced a second phase exploration program at its Oyut Ulaan copper-gold porphyry project in the South Gobi region of Mongolia.
The program includes 1,500 metres of diamond core drilling, 350 line-kilometres of ground magnetics and 1,000 metres of trenching.
Drilling is designed to confirm extensions to the goldrich porphyry copper mineralisation identified by reconnaissance work in May-June.
The project is located 60 kilometres west of the Trans Mongolian Railway, covers 40 square kilometres and comprising numerous mineralised porphyry centres.
Porphyry mineralisation at Oyut Ulaan is associated with late-stage monzonite and quartz diorite porphyry dykes on the flanks of the Oyut Ulaan Intrusive Complex.
Fieldwork should be completed by early October with results to follow shortly thereafter. Capitalised at $14 million and well-funded, Xanadu is potentially leveraged to exploration success.
The program includes 1,500 metres of diamond core drilling, 350 line-kilometres of ground magnetics and 1,000 metres of trenching.
Drilling is designed to confirm extensions to the goldrich porphyry copper mineralisation identified by reconnaissance work in May-June.
The project is located 60 kilometres west of the Trans Mongolian Railway, covers 40 square kilometres and comprising numerous mineralised porphyry centres.
Porphyry mineralisation at Oyut Ulaan is associated with late-stage monzonite and quartz diorite porphyry dykes on the flanks of the Oyut Ulaan Intrusive Complex.
Fieldwork should be completed by early October with results to follow shortly thereafter. Capitalised at $14 million and well-funded, Xanadu is potentially leveraged to exploration success.
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