Xanadu Mines Ltd

#ASXNews Kharmagtai PFS Metallurgy Results Xanadu Mines Ltd is pleased to report Pre-Feasibility (PFS) metallurgical testwork results for its flagship Kharmagtai copper-gold project, in the South Gobi region of Mongolia. • PFS metallurgical testwork for Kharmagtai is now complete following full locked cycle testwork (LCT) on appropriately representative deposit and master composites. • The study defines a conventional flowsheet, including: Crushing, grinding and flotation to produce a saleable concentrate. • Gold doré is also produced through an upfront gravity circuit and leaching of cleaner tails. • The combined process plant is projected to deliver average overall recoveries of approximately 81% #copper and 80% #gold from sulphide feed. Recoveries are made up of the following: Gravity gold recovery of approximately 10% Simple flotation recovery of 81% copper and 63% gold Carbon in leach (CIL) recovery of an additional 7% gold • Testwork also shows concentrate grades of up to 25% copper and 25g/t gold, with very low impurities, indicating potential strong demand for the product. • The PFS study report will include these results, expected in the coming weeks. #XAM’s Executive Chairman and Managing Director, Mr Colin Moorhead, said, “This concludes a comprehensive metallurgical testwork program which aimed to define the optimal ore processing pathway for the key deposits at Kharmagtai. “Results are within our expectations, delivering a high-quality gold rich copper concentrate that we expect to be in high demand. Results of this testwork and associated process design criteria have been used by DRA Global to develop the PFS plant design and associated capital and operating expenditure. We look forward to communicating these results when we release the PFS in the coming weeks.” See the full announcement: https://loom.ly/qwU-qro #XanaduMines #MiningNews #ASX #TSX #mining

#reminder Xanadu Mines Ltd VP Exploration, Andrew Stewart and Non-Executive Director, Michele Muscillo look forward to attending the Denver Gold Group Gold Forum Americas in Colorado Springs, this week 15 – 18 September 2024. Andrew will be presenting the compelling #XAM investment case on Monday, September 16 at 4:50 PM MDT, at the Broadmoor Hotel & Resort. View Agenda: https://loom.ly/9UCKLwg Watch it live here: https://loom.ly/VPJFmAI #XanaduMines #ASX #TSX #PreciousMetals #gold #mininginvestment

#ASXNews During the six months ended 30 June 2024, Xanadu Mines Ltd progressed the PreFeasibility Study (PFS) and discovery exploration at its flagship Kharmagtai Copper-Gold Project, which is due for completion in the third quarter of calendar year 2024. The Kharmagtai PFS and associated exploration was funded by US$35 million cash from the Joint Venture with Zijin. The Company also undertook exploration drilling at its Red Mountain Project and negotiated a Joint Venture agreement at Sant Tolgoi, the newest project in its portfolio. HIGHLIGHTS 🔸Kharmagtai Copper-Gold Project🔸 ➖PFS on track for successful delivery, in Sept 2024, of a globally significant copper-gold mine with strong project economics, supported by a Maiden Ore Reserve. ➖Significant increase in Kharmagtai Resource from 3.4Mt to 3.8Mt Cu and from 8.5Moz to 9.3Moz Au contained metal, a 463Kt increase in contained copper (Cu) and 764Koz increase in contained gold (Au). ➖Extensional and exploration drilling results expand upon the recently identified higher-grade zone (core) at White Hill, located below the previous Scoping Study pit designs and outside the 2023 MRE. ➖Excellent metallurgical testwork results further demonstrate project viability, with focus on detailed mine and process engineering to incorporate these metallurgical outcomes. 🔸Red Mountain Copper Project🔸 ➖Approximately 4,880m of discovery-focused diamond drilling completed across four prospects at Red Mountain, encountered significant, shallow mineralisation warranting near term follow-up.5 🔸Sant Tolgoi Copper-Nickel Project Acquisition🔸 ➖#XAM agreed to a binding term sheet with STSM LLC for an earn-in agreement for up to 80% of Sant Tolgoi, a prospective district scale magmatic copper-nickel project, located in Zavkhan Province of Western Mongolia. Sant Tolgoi project hosts multiple shallow copper-nickel targets over several kilometers of strike. 🔸Corporate🔸 ➖Placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin. ➖Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval in February 2024, and subsequent approval by the Foreign Investment Review Board. ➖Appointment of Bacchus Capital Advisers Limited (Bacchus) as strategic and project funding adviser for the next stage of the Kharmagtai Copper-Gold Project. ➖Published Xanadu’s third annual Sustainability Report for calendar year 2023, highlighting Xanadu’s commitment to responsible and transparent ESG. ➖Xanadu’s Annual General Meeting (AGM) was held on 23 May 2024 with all resolutions passed. ➖Xanadu is well-funded, with A$5.2 million in cash at 30 June 2024 and a continued slow burn rate as operator fees are paid by the Kharmagtai project VIEW the full Report https://loom.ly/xiPrfZo #mining #copper #nickel #discovery #exploration

via Bulls N' Bears Xanadu Mines Ltd has launched into maiden field programs at its Sant Tolgoi #copper-#nickel project in northern Mongolia. The company says detailed mapping and sampling programs are well underway at the site that is showing positive early signs of widespread copper oxides at surface. Read more ⬇️ https://loom.ly/7WXSHes

#ASXNews COPPER-NICKEL FOCUSED EXPLORATION ADVANCING AT SANT TOLGOI PROJECT Xanadu Mines Ltd is pleased to report good progress at its field operations at the highly prospective Sant Tolgoi Copper-Nickel Project, in Zavkhan Province of Western Mongolia. Sant Tolgoi is considered highly prospective for the discovery of new magmatic intrusion-related Copper-Nickel systems. 🔸Field exploration program is well underway at the Sant Tolgoi Copper-Nickel Project, representing Xanadu’s first detailed activities at these highly encouraging district-scale magmatic targets. 🔸Detailed geological mapping and geochemical sampling in progress. 🔸Acquisition of high-resolution magnetic, gravity and CSAMT is complete, with modelling underway. 🔸Multiple shallow #copper-#nickel sulphide targets are being identified over several kilometres of strike. 🔸Early geochemical and geophysical results expected in Q4 2024. #XAM's VP Exploration, Dr Andrew Stewart, said: “We are very pleased to have commenced and making excellent exploration progress at the Sant Tolgoi Copper-Nickel Project. This project represents an exciting green-fields opportunity. We believe this is potentially a new Magmatic Cu-Ni District in an under-explored mineral province of Western Mongolia, and is an extension of fertile magmatic activity hosting a significant number of Ni-Cu-PGE deposits in the Central Asian Orogenic Belt. Sant Tolgoi lies on the western extension of the deep seated Khangai Fault systems. Encouragingly, surface mapping has identified widespread mineralisation, primarily consisting of copper oxides, either as fracture fillings or disseminated mineralisation in coarse-to-medium grained gabbro, validating our generative strategy.” View the Announcement: https://loom.ly/JzACylY #ASX #TSX #copper #nickel #exploration

Andrew Stewart, Xanadu Mines Ltd VP Exploration will be attending Precious Metals Summit Conferences, LLC Investor Event, between 10 - 13 September at the Beaver Creek Village. Andrew will present on Tuesday at 3:45pm MDT. Watch the presentation online here: https://loom.ly/Nl5UvZo Read the presentation here https://loom.ly/TR5Xxak #ASX #TSX #mininginvestment #copper #gold #Mongolia

Xanadu Mines Ltd VP Exploration, Andrew Stewart and Non-Executive Director, Michele Muscillo will be attending the Denver Gold Group Gold Forum Americas in Colorado Springs, during 15 – 18 September 2024. Andrew will be presenting the compelling #XAM investment case on 18 September at 9:30 AM MDT, at the Broadmoor Hotel & Resort. Xanadu looks forward to connecting with investors and fellow industry leaders. Institutional Investors, please register here: https://loom.ly/43SCis4 #XanaduMines #ASX #TSX #PreciousMetals #gold #mininginvestment

PAC Partners published Xanadu Mines Ltd research update, to outline their view on the recently upgraded Kharmagtai Mineral Resource, and its impact on the upcoming PFS expected in the coming weeks. Their update also provides a comprehensive sensitivity analysis of #XAM to gold price. PAC highlights the 850Mt of Indicated Resource for 3.3 Mt CuEq (2.3Mt #copper and 6Moz #gold) contained metal in the open pit, noting it has materially expanded relative to both the 2023 Mineral Resource and 2021 Scoping Study. Furthermore, PAC sees its 19 August research update is notionally covered by the recently upgraded Indicated Resource, treating 840Mt ore over 25-year life of mine. PAC maintains its A$0.18/share risked price target for #XAM. Read the full research: https://loom.ly/pQntv-w #XanaduMines #ASX #TSX #MiningInvestment

Xanadu Mines Ltd Executive Chairman & Managing Director Colin Moorhead and VP Exploration Andrew Stewart look forward to attending the Precious Metals Summit Conferences, LLC in Beaver Creek during 10 - 13 September 2024. Colin is pleased to be presenting #XAM's compelling investment case on Tuesday 10 September 3:45PM MDT, in room 1. A very limited number of opportunities remain for a pre-scheduled meetings with the Xanadu team. The team is looking forward to connecting with investors and fellow industry leaders. Institutional Investors, please register here: https://loom.ly/NN4_5hc #XanaduMines #copper #gold #Preciousmetals #ASX #TSX

via MiningNews.net Xanadu Mines Ltd has just delivered a significant boost to the endowment at its Kharmagtai project in South Gobi region of Mongolia, which it calls one of the largest undeveloped #copper-#gold projects in the world. The second update in nine months comes as #XAM puts the final touches on a much-anticipated prefeasibility study. Read more: https://loom.ly/IpcPcBg #XanaduMines #ASX #TSX