High grade gold deposit discovered in Dornogovi

Economy | Mining
2016-03-02 16:45:49

Ulaanbaatar /MONTSAME/ Australia-based Xanadu Mines has revealed some spectacular rock chips from the newly discovered quartz-carbonate-sulphide veins at Oyut Ulaan copper-gold project (90% XAM), located within the Dornogovi province of southern Mongolia, reports the Proactive Investors.

Bonanza grade results include: 305.8g/t gold, 171.6g/t gold and 123.2g/t gold. The multiple high-grade rock chip samples define three parallel epithermal lode structures within 1.5 kilometres.
News flow will remain strong in the near-term, as Xanadu has trench and detailed channel sampling in progress, before drilling is planned.
Dr. Andrew Stewart, chief executive officer, commented:"It is very exciting to collect true bonanza gold grades from newly discovered mineralisation at Oyut Ulaan. We had the belief the geology displayed all the ingredients required for significant shallow high-grade gold mineralisation, which has been confirmed by this surface sampling.
"The team is now developing plans for accelerated exploration as there is tremendous scope for a very significant discovery in this area.”


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