Xanadu Mines (ASX:XAM) has restarted exploration work at its 100% owned Red Mountain Project located in the South Gobi region of Mongolia.
Ground exploration works is now underway, including surface mapping and trenching activities, with exploration targeting shallow ‘high-grade’ gold-silver-copper, following a detailed review of prior exploration results.
Trenching will test strike extent of shallow mineralisation and set high-priority targets for diamond drilling. Drill testing expected to start in the September 2022 quarter.
Addressing the restart of exploration, Xanadu Executive Chairman and Managing Director Colin Moorhead said: “Red Mountain has delivered several exciting, shallow, high-grade gold, silver, and copper drilling results, which led us to rethink how we tackle this large and highly prospective tenement.
“Red Mountain has delivered several exciting, shallow, high-grade gold, silver, and copper drilling results”
With a renewed focus on multiple near surface targets, we are now ready to ramp exploration back-up at Red Mountain. This will include extensive trenching to define targets for the forthcoming drill program.
By following a systematic program, we will be able to characterise the nature and mineral potential of Red Mountain, and we look forward to sharing results as this very exciting program progresses.”
Red Mountain trenching in 2022 will include 6,500 horizontal metres, designed to test strike extent, and develop targets for follow-up diamond drilling program.
Surface trenching has proven to be a rapid and economic target definition approach prior to diamond drilling, and this program will include extensive trenching over new, gold, silver, and copper targets.
Xanadu’s Red Mountain porphyry copper-gold-silver project is located within the Dornogovi Province of southern Mongolia, approximately 420km southeast of Ulaanbaatar (Figure 1), and 70km west from the provincial centre of Sainshand.
The project has a granted 30-year mining licence and comprises an underexplored porphyry district. Red Mountain mineralisation is associated with late-stage monzonite and quartz diorite porphyry dykes and stocks emplaced on the flanks of the Red Mountain Intrusive Complex.
This consists of multiple co-genetic porphyry gold and copper centres, mineralised tourmaline breccia pipes, gold and copper base metal magnetite skarns and epithermal gold veins.
