Xanadu Mines Expands Kharmagtai Copper-Gold Resource
![Xanadu Mines Expands Kharmagtai Copper-Gold Resource](https://investorshangout.com/images/blog/investors-hangout-newswire.jpg)
Significant Resource Growth at Kharmagtai
Xanadu Mines Ltd (ASX: XAM, TSX: XAM) is pleased to announce a significant increase in the Mineral Resource Estimate (MRE) for its flagship copper-gold project at Kharmagtai in Mongolia. The updated resource demonstrates impressive gains, with an increase of 14% in contained copper, equating to an additional 463,000 tonnes (kt Cu), and a 9% increase in gold, totaling an additional 764,000 ounces (Oz Au). This growth is primarily attributed to enhancements in the resource reporting criteria based on recent pre-feasibility studies and significant drilling campaigns.
Highlights of the Resource Update
The updated MRE reveals:
- A notable increase in total copper resources from 3.4 million tonnes to 3.8 million tonnes and gold from 8.5 million ounces to 9.3 million ounces.
- Minor improvements of approximately 123kt Cu and 156koz Au driven by the inclusion of 7,300 meters from 11 newly drilled holes.
- Refined resource reporting driven by pit optimization that clearly delineates mineral resources based on cut-off grades appropriate for potential open-pit mining.
Executive Insights
Executive Chairman and Managing Director, Mr. Colin Moorhead, has stated, "This update not only aligns with the model supporting the ongoing pre-feasibility study but also indicates future growth potential, particularly given the discovery of higher-grade copper and gold zones at White Hill, which remains open at depth. Our strategy includes ensuring that all planned infrastructure remains flexible for future expansions in our open-pit operations."
Independent Review and Methodology
Xanadu engaged Spiers Geological Consultants (SGC) for an independent assessment of the updated resource. This report adheres to the JORC Code 2012 standards, ensuring rigorous scientific accuracy. The most recent drilling results not only enhance confidence in the resource estimates but also underscore the high potential for future exploration and development at Kharmagtai.
Exploration Plans and Future Potential
The Kharmagtai project encompasses a robust portfolio of exploration opportunities. Ongoing investigations aim to expand the resource base further, particularly through targeting areas indicated by recent exploratory drilling. There remains confidence in the project's capacity to support both open-pit and underground mining operations, with the deposit demonstrating favorable geological characteristics conducive to profitable extraction.
Broader Market Context
The copper and gold market continues to witness upward trends in demand, particularly as global economic recovery efforts accelerate. With increased focus on sustainable mining operations, projects like Kharmagtai, which combine significant resources with responsible mining practices, are well-positioned to contribute positively in the evolving market landscape.
About Xanadu Mines
Xanadu Mines is a forward-thinking mining exploration company listed on ASX and TSX, dedicated to advancing copper-gold projects. With significant control over the Kharmagtai project, Xanadu stands as a strategic player in the junior mining sector, holding a competitive edge in exploration and development.
Contact Information
For further inquiries, contact:
Colin Moorhead
Executive Chairman & Managing Director
Email: colin.moorhead@xanadumines.com
Phone: +61 2 8280 7497
Frequently Asked Questions
1. What is the significance of the updated MRE at Kharmagtai?
The updated MRE indicates a 14% increase in contained copper and a 9% increase in contained gold, reflecting strong resource growth and potential economic viability for the project.
2. Who conducted the independent resource assessment?
The independent assessment of the resource was conducted by Spiers Geological Consultants (SGC), adhering to JORC Code 2012 standards.
3. What are the future plans for Kharmagtai?
Xanadu Mines plans to continue exploration activities to expand the resource, particularly targeting higher-grade zones found through recent drilling campaigns.
4. How does this resource update affect market strategy?
This resource update positions Xanadu favorably within the copper-gold sector, enhancing investor confidence and aligning with market trends toward sustainable mining.
5. How can stakeholders contact Xanadu for more information?
Stakeholders can reach out via email at colin.moorhead@xanadumines.com or call +61 2 8280 7497 for detailed inquiries.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/