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XAM Xanadu Mines Ltd

0.045
0.00 (0.00%)
19 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Xanadu Mines Ltd TSX:XAM Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.045 0.045 0.05 200 12:18:24

High Priority Copper Drill Targets Defined at Sant Tolgoi

20/11/2024 1:58pm

GlobeNewswire Inc.


Xanadu Mines (TSX:XAM)
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Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu or the Company) is pleased to announce strong surface copper assay results from its Sant Tolgoi Project located in Zavkhan Province of Western Mongolia (Figures 1 and 2). Geological mapping, surface rock-chip sampling and geophysics have confirmed the preference of several large anomalies associated with outcropping mafic intrusions. The objective of the multi-discipline exploration programme is to collect the data required to identify drill targets within the large Sant Tolgoi Intrusive Complex. Four targets have been identified and a total of 3000m of reconnaissance drilling has been planned to test all targets for high-grade massive sulphide copper and nickel.

Highlights

  • Reconnaissance rock-chip samples collected at the Sant Tolgoi project have returned high-grade results of up to 2.1% Cu from multiple gossan outcrops
  • Detailed mapping, geophysics and geochemistry defines at least 4 high-priority drill targets over a 4-kilometre-long splay off the Khangai Fault System
  • Follow-up drilling to commence in Q2 2025

Xanadu’s VP Exploration, Dr Andrew Stewart, said:

“We are very excited about the latest results from the Sant Tolgoi exploration program which was designed to collect data required to identify drill targets. Our exploration strategy at Sant Tolgoi focuses on outcropping mafic intrusions where anomalous assay results and detailed geophysics has defined four targets within 100-metres of surface.

“This project represents an exciting greenfields opportunity, and is potentially a new Magmatic Cu and possibly Ni-PGE District in an under-explored mineral province of Western Mongolia. These latest results validate and refine our exploration models providing our exploration team with a clear direction towards a significant discovery at Sant Tolgoi. Follow up drilling is planned for the first half of 2025.”

 Figure 1: The Sant Tolgoi located in the Zavkhan Province of Western Mongolia.

High-Priority Targets Identified

Four key targets have been identified, based firstly on favourable geology and co-incident strong geochemistry, supported by the geophysical properties indicative of mineral deposits.

Geochemistry defined four distinct copper targets at surface. Target 1 consists of outcropping copper oxides (Malachite and Azurite) up to 1% copper in assays with mineralisation associated with coarse grained gabbro stock covering a 500m x 300m area. This area sits within a fault jog on a splay off the Khangai Fault System, where dilation could have created space for mineralised intrusions. Magnetics show a strong remanent magnetic feature in 3D suggesting the target consists of an intrusive rock, or rock that has been altered or mineralised by hydrothermal fluids. Gravity data shows a strong density contrast with surrounding rocks, indicative of a denser, potentially mineralised intrusive. A Dipole-Dipole Induced Polarisation (DDIP) line that crossed the target shows a relatively strong 20mV/V IP chargeability anomaly directly below the geochemistry, indicative of disseminated sulphides in a mineralised intrusive. Controlled source audio-frequency magnetotellurics (CSAMT) data also shows a conductive zone associated with the center of this Induced Polarisation (IP) Chargeability anomaly, potentially massive sulphide, surrounded by a resistive halo.

Target 2 is outcropping copper (up to 2.1% Cu) mineralisation associated with coarse grained gabbro sill like body along the structure and covering a 300m x 50m area. Magnetics show a moderate remanent magnetic feature in 3D suggesting the target consists of an intrusive rock, or rock that has been altered or mineralised.  Gravity data shows a strong density contrast with surrounding rocks, indicative of a denser, potentially mineralised intrusive. A DDIP line that crossed the target shows a moderate 17mV/V IP chargeability anomaly directly below the geochemistry, indicative of disseminated sulphides. CSAMT data also shows a conductive zone, potentially massive sulphide in an intrusive.

Target 3 is a blind geophysical target under the cover. Target has high density and moderate magnetic features similar with targets have outcropping copper mineralization. The size of anomaly is 300m x 200m.

Target 4 is a blind geophysical target. Target has high density and moderate magnetic features similar with targets have outcropping copper mineralisation. The size of anomaly is 400m x 300m.

Geochemistry Sampling Results

The Sant Tolgoi surface sampling programme consisted of 519 surface rock-chip samples. Sampling was conducted over a 3km by 1km area (Field Area, Figure 2) covering two clusters of prospective rocks adjacent to the regional scale Khangai Fault System, interpreted to be channelling mineralisation in the area. Each sample consisted of numerous golf ball sized chips taken from a 2m-by-2m area. These samples identified outcropping copper mineralisation associated with coarse grained (1cm to 2cm grain size) gabbro dykes and stocks (Figures 2 and 3). Results confirm four distinct targets sitting in a 4-kilometre-long splay off the Khangai Fault System with elevated grade of copper up to 2.1% Cu and with association of <4g/t Ag; and <0.06% Ni at surface (Figure 3).

Figure 2: Interpreted Geology Sant Tolgoi and Field Area Highlighted.

Figure 3: Field Area Copper rock-chip results.

Geophysical Programme

Four geophysical properties have been measured to support drill targeting of surface geological and geochemical data. Magnetic data has been acquired to help identify and separate different rock types at depth. Gravity data has been acquired to potentially map denser intrusive bodies. CSAMT has been acquired to map conductivity which may correlate with linked sulphides (massive and veined) or structures containing water/conductive geological units. Dipole-Dipole Induced Polarisation data has been collected to identify disseminated sulphides (Figures 4 and 5).

Figure 4: Magnetic and Gravity Data. Top two panels show magnetic data, bottom two panels show gravity data.

Figure 5: Magnetic Inversions. See text for descriptions.

A total of 53-line kilometres of drone-based magnetics has been completed across the target area (Figure 4). This data has been inverted in 3D and processed to separate out the three component magnetic vector data. Amplitude data from the three components maps the true location of the magnetic susceptibility feature. The E-perpendicular component maps the remanent magnetic changes which occur after the host rock was formed. Processes like intrusives, alteration or mineralisation. The E-Projected component maps the background geology.

A total 530 stations of ground gravity survey completed over potential prospects of Sant Tolgoi Project. A moderate to high dense domains mapped the distribution of mineralized gabbro stocks or sills (Figure 4).

A total of 9 lines or 150 stations of CSAMT was completed over potential prospects of Sant Tolgoi Project. A low resistivity (conductive) feature mapps the gabbro stocks or sills in depth (Figure 5).

A total 4-line kilometres Dipole-Dipole Induced Polarisation survey completed over potential prospects of Sant Tolgoi Project. High chargeable and low resistivity features endorsing the above geophysics results in depth, where defined gabbro stock or sills (Figure 5).

Figure 5: CSAMT and IP inverted Data as lines.

Geology and Mineralisation

Mineralisation at Sant Tolgoi consists of copper oxides hosted within coarse grained gabbro. Copper is expressed as secondary, remobilised by weathering in fractures and as staining. This is interpreted to have been remobilised from primary disseminated and massive sulphides below the weathering profile. Figures 6 and 7 show polished slab photographs of the coarse-grained hornblende gabbro.

Figure 6: Sample 140866: Coarse-grained, malachite-azurite stained hornblende gabbro. Sample returned an assay of 0.63% Cu.

Figure 7: Sample 140869: Coarse-grained, malachite-azurite-stained hornblende gabbro. The sample returned an assay of 0.76% Cu.

About Sant Tolgoi

The Sant Tolgoi Project covers two Exploration Licences, XV-17774 (Oyut) and XV-21887 (Sant Tolgoi) in the Zavchan Province of Western Mongolia with a combined area of over 40km2 (Figure 2), collectively referred to as the Sant Tolgoi Project or Sant Tolgoi Copper Project. The Tenement portfolio includes numerous advanced exploration targets with real prospectivity for the discovery of significant magmatic copper and nickel mineralisation. In the Zavchan Region of Mongolia, the Sant Tolgoi Project lies on the western extension to the of the deep seated Khangai Fault systems, a metalliferous fault network which hosts several significant mafic and ultramafic intrusions that are highly encouraging for intrusion hosted copper and nickel discoveries. Early signs of several copper-nickel systems have been encountered in both historical drilling.

Statements and Disclaimers

Competent Person Statement

The information in this announcement that relates to exploration results is based on information compiled by Dr Andrew Stewart, who is responsible for the exploration data, comments on exploration target sizes, QA/QC and geological interpretation and information.  Dr Stewart, who is an employee of Xanadu and is a Member of the Australasian Institute of Geoscientists, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves and the National Instrument 43-101.  Dr Stewart consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Forward-Looking Statements

Certain statements contained in this Announcement, including information as to the future financial or operating performance of Xanadu and its projects may also include statements which are ‘forward‐looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.  These ‘forward-looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xanadu, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.

Xanadu disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange (ASX) and Toronto Stock Exchange (TSX). The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward‐looking statements.

All ‘forward‐looking statements’ made in this Announcement are qualified by the foregoing cautionary statements. Investors are cautioned that ‘forward‐looking statements’ are not guarantee of future performance and accordingly investors are cautioned not to put undue reliance on ‘forward‐looking statements’ due to the inherent uncertainty therein.

About Xanadu Mines

Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large-scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who jointly control a globally significant copper-gold deposit in our flagship Kharmagtai project. Xanadu holds 50-50 JV share with Zijin Mining Group in Khuiten Metals Pte Ltd, which controls 76.5% of the Kharmagtai project.

For further information on Xanadu, please visit: www.xanadumines.com or contact:

Colin Moorhead                                                                                              Executive Chairman & Managing Director                                                         P: +61 2 8280 7497                                                     E:  colin.moorhead@xanadumines.com            W: www.xanadumines.com

This Announcement was authorised for release by Xanadu’s Executive Chair & Managing Director.

APPENDIX 1: Rock Chip Assay Results

Hole IDProspectEastNorthRLRock typeCu (%)Au (g/t)Ag (g/t)Ni (ppm)
140917Target-271774254610631856Gabbro2.1900.0373.200363.00
140920Target-271771554610541857Pegmatite2.0300.0170.800115.00
140874Target-271782154610241862Gabbro1.6450.0442.900423.00
140327Target-271773354610671854Gabbro1.5250.0231.300153.00
140320Target-271768054610711854Gabbro1.1100.0464.000637.00
140915Target-271766154610531858Gabbro1.0500.0283.200546.00
140872Target-271767554610411858Gabbro1.0050.0060.250116.00
140665Target-271760854611091844Pegmatite0.8570.0080.600120.00
140873Target-271764754610541854Gabbro0.8180.0382.900561.00
140443Target-171620754609581815Gabbro0.7590.0260.500411.00
140869Target-171619554609561815Gabbro0.7560.0300.600401.00
140328Target-271776154610571856Gabbro0.6830.0212.300548.00
140866Target-171610054608451813Gabbro0.6340.0311.900375.00
140868Target-171623954609071816Gabbro0.6250.0220.250374.00
140380Target-271729754611021823Granodiorite0.5390.0030.250154.00
140916Target-271766254610501858Quartz vein0.5390.0070.70070.00
140482Target-171612554608621814Gabbro0.4910.0190.700294.00
140481Target-171612954609131812Gabbro0.4360.0220.700297.00
140500Target-271765354611121848Gabbro0.4350.0090.250116.00
140871Target-271730154610981828Gabbrodiorite0.4110.0030.250109.00
140442Target-171621454609281816Gabbro0.4100.0230.500287.00
140485Target-171616554608361812Gabbro0.3730.0190.500288.00
140865Target-171614654608621813Gabbro0.3690.0160.500353.00
140440Target-171617154609641811Gabbro0.3320.0170.250307.00
140918Target-271780854610401862Gabbro0.3140.0170.60095.00
140449Target-171617754608081809Gabbro0.3000.0160.250300.00
140293Target-271735954611021828Granodiorite0.2930.0030.25027.00
140906Target-171623854609091816Gabbro0.2790.0210.250321.00
140446Target-171617154608741815Gabbro0.2780.0140.500348.00
140448Target-171612954607941810Gabbro0.2300.0150.250259.00
140284Target-271782754610741860Gabbro0.2090.0160.700271.00
140441Target-171621354608691813Gabbro0.1370.0140.250248.00
140870Target-171623554609401816Gabbro0.1250.0100.250223.00
140867Target-171611054608741813Diorite0.1190.0030.25064.00
140542Target-171624354609611816Gabbro0.1120.0080.250193.00
140286Target-271782454610391862Diorite0.1070.0190.80062.00
140479Target-171611954610081803Gabbro0.0930.0070.250189.00
140444Target-171621354610061808Gabbro0.0690.0060.250168.00
140447Target-171612754608241812Rhyolite0.0670.0050.25082.00
140480Target-171612354609601810Gabbro0.0600.0130.250163.00
140319Target-271763354610751852Granodiorite0.0540.0060.25047.00
140666Target-271749554611551826Granite0.0490.0030.25052.00
140471Target-171603754608201812Gabbro0.0410.0050.250136.00
140473Target-171606854607921809Gabbro0.0340.0030.250134.00
140478Target-171605654609501809Gabbro0.0340.0030.250129.00
140476Target-171606454608681812Rhyolite0.0320.0030.25043.00
140453 71587154608141797Gabbro0.0300.0070.250166.00
140462 71597654607821809Gabbro0.0270.0080.250145.00
140469Target-171602654609111809Gabbro0.0270.0030.250147.00
140451Target-171617454609291815Rhyolite0.0240.0030.2502.00
140459 71593154608211806Diorite0.0230.0030.250172.00
140467Target-171605154610011796Rhyolite0.0200.0030.25050.00
140461 71593954607621805Gabbro0.0190.0030.250103.00
140475Target-171606454608241812Rhyolite0.0170.0030.25050.00
140458 71592954608511804Gabbro0.0150.0050.25070.00
140472 71602954607801809Gabbro0.0150.0030.250149.00
140312Target-271754854611141830Granodiorite0.0140.0030.25028.00
140464Target-171597654608671805Diorite0.0130.0060.25040.00
140941 71548554622691858Granite0.0130.0030.2504.00
140460 71593554607821806Gabbro0.0120.0050.25088.00
140875 70682254628431739Gabbro0.0120.0030.25081.00
140543Target-171625954609191816Diorite0.0110.0030.250111.00
140685 71659254608021847Gabbro0.0110.0030.250160.00
140398 71666854607951851Gabbro0.0100.0050.25085.00
140497Target-271749754611091830Granite0.0100.0030.25020.00
140470Target-171603154608731811Rhyolite0.0090.0060.25013.00
140483 71661554608191850Gabbro0.0090.0050.25090.00
140437 71684154609811839Granodiorite0.0080.0050.25035.00
140499Target-271770354611241841Diorite0.0080.0030.25086.00
140560 71639254609981819Gabbrodiorite0.0080.0030.25089.00
140707 71533954615961809Granodiorite0.0080.0030.2500.50
140709 71542754616781814Granodiorite0.0080.0030.25016.00
140853 71433554623731818Gabbro0.0080.0030.25018.00
140912 70542954633101791Gabbro0.0080.0030.250105.00
140296 71741454609841854Granite0.0070.0030.25068.00
140400Target-371668054609321829Gabbro0.0070.0050.25095.00
140406 71670854608561845Gabbro0.0070.0030.250119.00
140484 71661454608541846Gabbro0.0070.0060.25054.00
140521 71604154615001798Gabbrodiorite0.0070.0030.2500.50
140628 71592554614471799Gabbro0.0070.0030.2500.50
140668 71521954607741781Pegmatite0.0070.0030.250100.00
140919 71792454610601859Gabbro0.0070.0030.250148.00
140309 71750954609291857Gabbrodiorite0.0060.0070.25046.00
140321Target-271768954610041859Diorite0.0060.0030.25017.00
140337 71693354608621854Granite0.0060.0050.25023.00
140338 71692954608181855Granodiorite0.0060.0030.25013.00
140395 71525554607601790Gabbro0.0060.0030.250206.00
140410Target-371675854608851844Gabbrodiorite0.0060.0080.25098.00
140498Target-271755854611531825Rhyolite0.0060.0030.25013.00
140570 71526154607131789Diorite0.0060.0030.250204.00
140626 71590954614861803Gabbrodiorite0.0060.0030.2500.50
140325 71774954609861862Granodiorite0.0050.0030.25011.00
140342 71691754609771849Granodiorite0.0050.0030.25024.00
140407 71670554608151848Gabbro0.0050.0030.25089.00
140486 71684054608521849Granite0.0050.0030.25012.00
140523 71601354614961799Gabbrodiorite0.0050.0030.2500.50
140524 71601054614721797Gabbro0.0050.0030.2500.50
140571 71520554607191786Diorite0.0050.0030.25090.00
140587 71819454609301876Granite0.0050.0030.25013.00
140617 71555854615251810Granosyenite0.0050.0030.2502.00
140623 71596054614751802Gabbrodiorite0.0050.0030.25056.00
140663 71823754610841858Granite0.0050.0030.25020.00
140688 71564254617201821Granosyenite0.0050.0030.2501.00
140710 71543254616601815Granodiorite0.0050.0030.25050.00
140852 71416654621921810Gabbro0.0050.0030.25075.00
140855 71472654634601827Gabbro0.0050.0030.2500.50
140275 71818254608761881Gabbro0.0040.0090.250184.00
140322 71769454609361857Rhyolite0.0040.0030.2503.00
140366 71720254609601853Granodiorite0.0040.0030.25053.00
140377 71728754609111862Diorite0.0040.0030.25031.00
140387 71535554607361792Diorite0.0040.0070.25018.00
140392 71529954607531791Granite0.0040.0030.25017.00
140413Target-371679454609861833Granodiorite0.0040.0030.25038.00
140417Target-471548854608871779Rhyolite0.0040.0030.25024.00
140421Target-471561154607631786Diorite0.0040.0030.25025.00
140422Target-471562154608071786Diorite0.0040.0030.25032.00
140429Target-471552954608431784Diorite0.0040.0030.25027.00
140465Target-171598154609091801Diorite0.0040.0030.25077.00
140466Target-171598054609441796Granite0.0040.0030.25023.00
140468Target-171602854609401806Diorite0.0040.0030.2503.00
140477Target-171606154609131810Diorite0.0040.0030.25038.00
140496Target-271745854610991834Diorite0.0040.0030.25076.00
140529 71658054608361843Granodiorite0.0040.0030.25061.00
140544Target-171625454608761813Rhyolite0.0040.0030.2502.00
140562 71643354609871819Diorite0.0040.0030.25021.00
140576 71825554608891879Diorite0.0040.0030.25020.00
140589 71823954609791872Granite0.0040.0030.25011.00
140595 71781754609981863Granodiorite0.0040.0030.25021.00
140662 71815854610971852Diorite0.0040.0030.25052.00
140669 71521554608221780Granite0.0040.0030.25019.00
140686 71767554618061812Granosyenite0.0040.0030.25025.00
140856 71472554634561827Diorite0.0040.0030.25042.00
140864 71598254608121810Granite0.0040.0030.2509.00
140903 71804054632681849Diorite0.0040.0030.25075.00
140909 71311154635591923Gabbro0.0040.0030.25023.00
140944 71199354638351900Gabbro0.0040.0030.25012.00
140244 71787454609301859Diorite0.0030.0030.25022.00
140248 71792154610741856Diorite0.0030.0030.25079.00
140257 71805554610271857Diorite0.0030.0030.25024.00
140261 71805954608661882Granite0.0030.0030.25025.00
140266 71812354609881866Diorite0.0030.0030.25024.00
140276 71820254608991878Quartz vein0.0030.0050.250101.00
140291Target-271734854610091851Diorite0.0030.0030.25035.00
140292Target-271736354610551835Granodiorite0.0030.0030.25040.00
140305Target-271746054610561841Diorite0.0030.0060.25014.00
140310Target-271755354610041853Diorite0.0030.0030.25026.00
140315Target-271759354610121855Granodiorite0.0030.0030.25014.00
140316Target-271759954609891855Diorite0.0030.0030.25023.00
140317 71763954609781857Diorite0.0030.0030.25024.00
140318Target-271763154610131857Granodiorite0.0030.0030.25013.00
140323Target-271774154610161862Granodiorite0.0030.0030.25011.00
140329Target-271778254610211864Granodiorite0.0030.0030.2505.00
140339 71687354608161850Gabbro0.0030.0030.25016.00
140343 71696754609861851Granodiorite0.0030.0030.25033.00
140347 71702554609031855Granodiorite0.0030.0030.25040.00
140348 71701254609971842Granodiorite0.0030.0030.25044.00
140350 71707454609471854Granodiorite0.0030.0030.25048.00
140355 71710954608641861Diorite0.0030.0030.25028.00
140357 71710954609621854Diorite0.0030.0030.25024.00
140358 71709754609911848Diorite0.0030.0030.25028.00
140360 71714454609961851Granodiorite0.0030.0030.25042.00
140363 71714954608631862Diorite0.0030.0030.25027.00
140365 71720654609061859Granodiorite0.0030.0060.25042.00
140367 71719154610091848Granodiorite0.0030.0030.25043.00
140369Target-271722754611001821Granodiorite0.0030.0030.25015.00
140372 71724154609591854Granodiorite0.0030.0030.25043.00
140379 71727854610001852Granodiorite0.0030.0050.25040.00
140381Target-271732154610071851Granodiorite0.0030.0030.25044.00
140384Target-471538754608331783Rhyolite0.0030.0030.25019.00
140386Target-471537754607751791Granite0.0030.0030.25010.00
140391 71529654607931793Granite0.0030.0030.25054.00
140401 71664554611821811Gabbro0.0030.0050.25024.00
140402 71669354611771810Granodiorite0.0030.0030.25024.00
140409 71675254608561847Rhyolite0.0030.0030.25037.00
140419 71567854607361785Diorite0.0030.0030.25023.00
140420 71565254607611787Diorite0.0030.0030.25026.00
140463 71597654608201810Granite0.0030.0030.25016.00
140490 71668654615701794Diorite0.0030.0030.25036.00
140495Target-271740454610531837Diorite0.0030.0030.25032.00
140515 71631654615641800Diorite0.0030.0030.2500.50
140520 71602854615551803Granodiorite0.0030.0030.2505.00
140533 71649354611061820Gabbro0.0030.0030.25033.00
140541 71624154611031804Diorite0.0030.0030.25030.00
140548 71629054610541812Rhyolite0.0030.0030.25015.00
140549 71629154611051807Gabbro0.0030.0030.25030.00
140552 71635354609401817Andesite0.0030.0030.25048.00
140561 71639354609571816Gabbrodiorite0.0030.0060.25024.00
140581 71825454608381882Granite0.0030.0030.25025.00
140583 71817554608291882Diorite0.0030.0030.25024.00
140584 71811754608141885Diorite0.0030.0030.25034.00
140596 71783954608071859Gabbrodiorite0.0030.0030.250133.00
140599 71755554609631857Rhyolite0.0030.0030.2507.00
140605 71536554615131805Granosyenite0.0030.0030.2500.50
140624 71595654614951802Gabbrodiorite0.0030.0030.2500.50
140627 71591354614681802Diorite0.0030.0030.25048.00
140631 71585054615251804Gabbro0.0030.0030.2506.00
140656 71559454615331812Granosyenite0.0030.0030.25049.00
140684 71664254608311846Gabbro0.0030.0030.25067.00
140702 71549954616411818Granodiorite0.0030.0030.25075.00
140715 71534554616961810Granodiorite0.0030.0030.2508.00
140854 71400954629101849Gabbro0.0030.0030.25010.00
140858 71581154620281814Gabbro0.0030.0030.25021.00
140901 71572454623331842Gabbro0.0030.0030.25019.00
140910 71638754615231797Gabbro0.0030.0030.25025.00
140913 71023154634521894Gabbro0.0030.0030.25016.00
140914 71378054620571812Gabbro0.0030.0030.25027.00
140924 71652354636051880Granosyenite0.0030.0030.2500.50
140943 71303154635911928Granosyenite0.0030.0030.25038.00
140235 71809754610841852Granodiorite0.0020.0030.25011.00
140251 71801154608611876Granite0.0020.0030.25016.00
140253 71800554610491855Granodiorite0.0020.0030.25023.00
140264 71810154609041880Granodiorite0.0020.0030.25015.00
140277 71821354609501876Diorite0.0020.0030.25017.00
140278 71818854610101870Granite0.0020.0030.25014.00
140283 71823554608561881Granite0.0020.0030.25016.00
140285 71782054611221855Granodiorite0.0020.0030.25014.00
140295Target-271742354610151846Granodiorite0.0020.0030.2508.00
140297 71741954609391857Granodiorite0.0020.0030.2507.00
140302 71745154609271857Granodiorite0.0020.0030.25014.00
140304Target-271745554610041851Granodiorite0.0020.0030.25011.00
140308 71751054609751855Granodiorite0.0020.0030.25011.00
140311Target-271755454610641844Granodiorite0.0020.0050.25015.00
140324 71775354609341862Rhyolite0.0020.0030.2504.00
140326Target-271772954611171850Granodiorite0.0020.0030.25013.00
140341 71691854609451849Granodiorite0.0020.0030.25031.00
140349 71705854609861847Granodiorite0.0020.0030.25044.00
140351 71705754609071857Granodiorite0.0020.0030.25034.00
140356 71710954608991858Granodiorite0.0020.0030.25036.00
140359 71712754610511833Granodiorite0.0020.0030.25014.00
140362 71715554609031860Granodiorite0.0020.0030.25041.00
140368Target-271719354610551839Granodiorite0.0020.0030.2507.00
140371 71723554610051852Granodiorite0.0020.0030.25046.00
140373 71724354609101860Granodiorite0.0020.0050.25035.00
140383Target-471543654608411784Pegmatite0.0020.0030.2500.50
140385Target-471538954608001788Diorite0.0020.0030.25014.00
140389Target-471533754608211789Granite0.0020.0030.2502.00
140390Target-471528654608291789Granite0.0020.0030.25015.00
140432Target-471544354608101788Pegmatite0.0020.0030.2501.00
140438 71688154609491845Granodiorite0.0020.0050.25026.00
140452 71587054607811800Granite0.0020.0030.2502.00
140455 71586854608541794Rhyolite0.0020.0030.2505.00
140457 71593654609201794Rhyolite0.0020.0030.25015.00
140489 71672554615801798Diorite0.0020.0030.25055.00
140493 71738254609671859Granite0.0020.0030.25016.00
140516 71629054615221792Granodiorite0.0020.0030.2500.50
140522 71601154615461804Andesite0.0020.0030.25016.00
140525 71649354607841836Diorite0.0020.0030.2500.50
140538 71655754611231819Granodiorite0.0020.0030.25014.00
140545Target-171630854609371813Granite0.0020.0030.2504.00
140556 71633354610611817Granite0.0020.0030.25031.00
140558 71639354611211818Granite0.0020.0030.25025.00
140559 71638754610651824Granite0.0020.0030.25027.00
140569 71648254610251818Granite0.0020.0030.25035.00
140575 71825554609251874Pegmatite0.0020.0030.25018.00
140577 71821954608901877Diorite0.0020.0030.25011.00
140578 71828554609211877Granite0.0020.0030.25016.00
140580 71828454608391883Granite0.0020.0050.25010.00
140582 71820754608571881Granite0.0020.0030.25012.00
140585 71813854608951879Granite0.0020.0030.25021.00
140588 71819354609771874Granite0.0020.0030.25010.00
140591 71807454609301873Granite0.0020.0030.25014.00
140597 71779154608091856Gabbro0.0020.0030.25027.00
140600 71737554608811859Rhyolite0.0020.0030.2500.50
140615 71542854615031805Granosyenite0.0020.0030.25022.00
140639 71578254615121807Diorite0.0020.0030.25017.00
140649 71827354609791871Pegmatite0.0020.0030.25016.00
140650 71827554609511874Granite0.0020.0030.25019.00
140667 71714654610871826Granite0.0020.0050.25021.00
140670 71670354611981809Pegmatite0.0020.0030.25016.00
140671 71669854611541809Granite0.0020.0030.25012.00
140675 71673754611711808Pegmatite0.0020.0030.25017.00
140678 71681454608471848Granite0.0020.0030.2507.00
140682 71696854608971854Pegmatite0.0020.0030.25014.00
140690 71557754616821820Granodiorite0.0020.0030.2505.00
140691 71559854616591821Granosyenite0.0020.0030.25012.00
140696 71556154616471819Granosyenite0.0020.0030.25020.00
140697 71554254616161818Granodiorite0.0020.0030.2501.00
140706 71537754615801812Granodiorite0.0020.0030.2501.00
140708 71531854615721808Granodiorite0.0020.0030.2500.50
140712 71537054616711813Granodiorite0.0020.0030.2500.50
140713 71537554616441813Granodiorite0.0020.0030.25058.00
140857 71585054617531818Gabbro0.0020.0030.25011.00
140859 71767654618111812Gabbro0.0020.0030.25017.00
140862 71469454615421788Granosyenite0.0020.0030.25010.00
140911 71638754615231797Granosyenite0.0020.0030.2502.00
140945 71188454638491899Diorite0.0020.0030.2505.00
140237 71796854608601870Granite0.0010.0030.25016.00
140238 71796954609151870Rhyolite0.0010.0030.2502.00
140239 71800754609001874Gabbro0.0010.0030.25018.00
140240 71789454608491863Granite0.0010.0030.2505.00
140241 71787954610511861Granodiorite0.0010.0030.25014.00
140243 71788854609871859Rhyolite0.0010.0030.2504.00
140247 71793154609381863Rhyolite0.0010.0030.2500.50
140249 71795554610741854Granodiorite0.0010.0030.25015.00
140250 71796954609501864Rhyolite0.0010.0030.2500.50
140255 71799854610861855Granodiorite0.0010.0030.25016.00
140256 71803954610881855Granodiorite0.0010.0030.25012.00
140259 71804954609591866Granite0.0010.0030.2500.50
140260 71805354609021878Granite0.0010.0030.25012.00
140262 71815454608651882Quartz vein0.0010.0030.25018.00
140263 71810854608651885Rhyolite0.0010.0030.2501.00
140265 71812154609431874Granite0.0010.0030.25015.00
140268 71814554610511860Rhyolite0.0010.0030.25017.00
140270 71815154609721871Diorite0.0010.0030.25015.00
140271 71816554609041878Granodiorite0.0010.0050.2506.00
140272 71815354608621882Granite0.0010.0030.25014.00
140273 71824154610491863Granite0.0010.0030.2509.00
140280 71823654610171868Granite0.0010.0080.25014.00
140281 71822854609201877Pegmatite0.0010.0030.2508.00
140282 71824354609551872Granite0.0010.0030.2508.00
140287 71733754609211861Rhyolite0.0010.0030.2501.00
140288 71732354608391855Granodiorite0.0010.0030.2505.00
140289 71737354608191854Rhyolite0.0010.0030.2502.00
140290 71736454609071860Rhyolite0.0010.0030.2501.00
140298 71741854608791858Rhyolite0.0010.0030.2502.00
140299 71741654608311857Rhyolite0.0010.0030.2500.50
140300 71746654608301855Rhyolite0.0010.0030.2500.50
140301 71747454608801855Rhyolite0.0010.0030.2500.50
140303 71746754609651854Granodiorite0.0010.0030.2509.00
140306Target-271750154610641842Granodiorite0.0010.0030.25014.00
140307Target-271750254610141851Granodiorite0.0010.0030.25013.00
140313Target-271758554610621846Granodiorite0.0010.0030.25018.00
140330 71778854609881863Rhyolite0.0010.0030.2502.00
140331 71784254608591857Rhyolite0.0010.0030.2503.00
140332 71785354608971858Rhyolite0.0010.0030.2503.00
140333 71783254609351858Rhyolite0.0010.0030.2502.00
140335 71696654608691855Granite0.0010.0030.2506.00
140336 71697054608441855Granodiorite0.0010.0030.2509.00
140340 71694154609011853Granodiorite0.0010.0030.2505.00
140344 71697754609561852Pegmatite0.0010.0030.2502.00
140345 71702254608241861Rhyolite0.0010.0030.2500.50
140352 71705254608271862Rhyolite0.0010.0030.2503.00
140353 71710654608231863Granodiorite0.0010.0030.25015.00
140361 71714754609611856Pegmatite0.0010.0030.2500.50
140364 71719554608651861Rhyolite0.0010.0030.2500.50
140370Target-271722154610641840Granodiorite0.0010.0030.2507.00
140376 71723554608111856Rhyolite0.0010.0080.2502.00
140378 71729354609401861Rhyolite0.0010.0030.2502.00
140382 71733954609591858Granodiorite0.0010.0030.25014.00
140388 71534254607591792Gabbro0.0010.0030.25011.00
140393 71530554607171791Granite0.0010.0030.2506.00
140396 71525054608181786Granite0.0010.0030.2509.00
140397Target-471552254608861778Granite0.0010.0030.2506.00
140399Target-371666654608701839Rhyolite0.0010.0030.2500.50
140403Target-371670554609811822Rhyolite0.0010.0030.2503.00
140404Target-371671454609331831Granodiorite0.0010.0030.2509.00
140405Target-371670054608941838Rhyolite0.0010.0030.2500.50
140408 71675554608171847Rhyolite0.0010.0030.2501.00
140411Target-371675454609401832Rhyolite0.0010.0030.2504.00
140412Target-371674854609781825Granodiorite0.0010.0070.2508.00
140415 71680154608961840Rhyolite0.0010.0030.2501.00
140416 71678954608091847Granodiorite0.0010.0030.25012.00
140418 71570554607791786Rhyolite0.0010.0030.2506.00
140423Target-471562354608451786Rhyolite0.0010.0030.2501.00
140424Target-471558254608451784Granite0.0010.0030.2509.00
140425Target-471556854608021785Granite0.0010.0030.2501.00
140426Target-471556454607631786Pegmatite0.0010.0030.2501.00
140428Target-471553254608111786Rhyolite0.0010.0030.2504.00
140430Target-471548854608401784Rhyolite0.0010.0030.2504.00
140431Target-471549254608091787Granite0.0010.0030.2504.00
140433 71685354608061849Diorite0.0010.0030.2503.00
140435 71687654609811844Granodiorite0.0010.0030.25015.00
140436 71685054609051842Rhyolite0.0010.0030.2502.00
140439 71688054608971848Rhyolite0.0010.0030.2502.00
140445 71620454610801806Rhyolite0.0010.0030.2501.00
140456 71587754609041788Rhyolite0.0010.0030.2502.00
140488 71677154616201800Rhyolite0.0010.0030.2501.00
140491 71739454609131860Rhyolite0.0010.0030.2502.00
140492 71745354608961856Rhyolite0.0010.0030.25013.00
140501 71664754615721801Granosyenite0.0010.0030.2501.00
140503 71659754615741803Granosyenite0.0010.0030.2501.00
140509 71641954615401801Granosyenite0.0010.0030.2500.50
140511 71638754615231797Granosyenite0.0010.0030.2500.50
140526 71651854608321830Rhyolite0.0010.0030.2501.00
140527 71653554608021840Granodiorite0.0010.0030.2500.50
140528 71656954608031844Rhyolite0.0010.0030.2500.50
140530 71656954608671828Rhyolite0.0010.0030.25010.00
140540 71659954611751814Granodiorite0.0010.0030.2508.00
140546Target-171630454609661816Pegmatite0.0010.0030.2500.50
140547 71629054610181815Rhyolite0.0010.0050.2500.50
140550 71629354611641797Rhyolite0.0010.0030.2500.50
140553 71634354609621817Granite0.0010.0030.2501.00
140555 71633754610231819Rhyolite0.0010.0030.2500.50
140567 71649454611121820Granite0.0010.0030.25017.00
140568 71647754610571819Rhyolite0.0010.0030.2505.00
140579 71828854608881881Granite0.0010.0030.2509.00
140586 71815054609381874Granite0.0010.0030.2506.00
140590 71808954609681870Granite0.0010.0030.2509.00
140593 71793554609951860Granite0.0010.0030.25018.00
140598 71761054609381857Granite0.0010.0030.2504.00
140608 71550954615361811Granosyenite0.0010.0030.2505.00
140616 71545854614931806Granosyenite0.0010.0030.2507.00
140618 71556754615041810Granosyenite0.0010.0030.25012.00
140644 71569054614681807Rhyolite0.0010.0030.25038.00
140648 71827254610211868Rhyolite0.0010.0030.2502.00
140653 71560054614831808Granosyenite0.0010.0030.2501.00
140655 71560154615071810Granosyenite0.0010.0030.2506.00
140657 71564054615311812Granosyenite0.0010.0030.2505.00
140658 71565054615041810Granosyenite0.0010.0030.2502.00
140661 71818754610961856Pegmatite0.0010.0030.25013.00
140664 71828554610911856Granite0.0010.0030.25016.00
140672 71665154611501811Granite0.0010.0030.2508.00
140673 71659954611411817Rhyolite0.0010.0030.2504.00
140676 71675354612111806Granite0.0010.0030.25016.00
140679Target-371679554609361837Granite0.0010.0030.25011.00
140680 71684754609381841Rhyolite0.0010.0030.25011.00
140681 71689554608531851Granite0.0010.0030.2507.00
140683 71707354608591859Diorite0.0010.0030.2508.00
140687 71567454617131819Granodiorite0.0010.0030.2500.50
140689 71561954617011823Granodiorite0.0010.0030.2500.50
140692 71561654616431817Granosyenite0.0010.0030.2502.00
140695 71558154616351819Granosyenite0.0010.0030.2502.00
140698 71551954615971817Granodiorite0.0010.0030.2500.50
140699 71551154615581814Granodiorite0.0010.0030.2500.50
140701 71547654616221818Diorite0.0010.0030.2506.00
140703 71545554616231817Granodiorite0.0010.0030.2500.50
140704 71544054616071815Diorite0.0010.0030.2509.00
140705 71541454615951815Granodiorite0.0010.0030.2502.00
140711 71540354616581814Granodiorite0.0010.0030.2500.50
140861 71462454615001785Granosyenite0.0010.0030.25010.00
140902 71719754635201837Rhyolite0.0010.0030.2503.00
140904 71805554632911850Granosyenite0.0010.0030.2507.00
140940 70546154630271730Granodiorite0.0010.0030.25072.00
140942 71552454614211804Subvolcanic0.0010.0030.2505.00
140946 70855254634111844Diorite0.0010.0030.2500.50
140947 70746454631071805Granosyenite0.0010.0030.2503.00
140949 70701454637391787Granite0.0010.0030.2502.00
140950 70546254631851782Granodiorite0.0010.0030.25037.00
140236 71800154609461865Granite0.0000.0030.2500.50
140242 71787954610931859Granodiorite0.0000.0030.25015.00
140245 71789154608951860Granite0.0000.0030.2501.00
140246 71792954608961866Granite0.0000.0030.2500.50
140252 71801154609891862Granite0.0000.0030.2500.50
140258 71806454610031863Granite0.0000.0030.2500.50
140267 71809654610321862Granite0.0000.0030.2500.50
140269 71815054610061867Rhyolite0.0000.0030.2502.00
140279 71819254610471861Rhyolite0.0000.0030.2501.00
140346 71701854608581858Rhyolite0.0000.0030.2500.50
140375 71724754608661860Rhyolite0.0000.0030.2500.50
140427 71552854607431785Granite0.0000.0030.2502.00
140487 71596154614271799Granosyenite0.0000.0030.2501.00
140502 71659554615451800Rhyolite0.0000.0030.2500.50
140504 71654554615421802Granosyenite0.0000.0030.2500.50
140505 71650154615381803Granosyenite0.0000.0030.2502.00
140506 71651354615751807Granosyenite0.0000.0030.2502.00
140507 71646254615721805Granosyenite0.0000.0030.2501.00
140508 71646254615331802Granosyenite0.0000.0030.2500.50
140510 71641554615741805Granosyenite0.0000.0030.2502.00
140512 71655054615721805Granosyenite0.0000.0030.2502.00
140513 71632154615381797Granosyenite0.0000.0030.2503.00
140517 71622254615451797Granodiorite0.0000.0030.2500.50
140518 71614454615351799Granodiorite0.0000.0030.2500.50
140519 71610854615131797Granodiorite0.0000.0030.2500.50
140531 71648554610091818Rhyolite0.0000.0030.2501.00
140532 71647854610591819Rhyolite0.0000.0030.2503.00
140535 71646854611671809Rhyolite0.0000.0030.2502.00
140536 71650654611621820Rhyolite0.0000.0030.2500.50
140537 71651454611151819Rhyolite0.0000.0030.2500.50
140539 71655854611621820Rhyolite0.0000.0060.2502.00
140551 71638654611671806Rhyolite0.0000.0030.2500.50
140557 71634654611171812Rhyolite0.0000.0030.2500.50
140563 71642354610211823Rhyolite0.0000.0030.2500.50
140564 71642954610631824Rhyolite0.0000.0030.2500.50
140565 71641754611261821Rhyolite0.0000.0030.2500.50
140566 71647254611691809Rhyolite0.0000.0030.2500.50
140572 71518454607471781Granosyenite0.0000.0030.2500.50
140573 71574254614161805Rhyolite0.0000.0030.2502.00
140592 71796754610031861Granite0.0000.0030.2509.00
140601 71528754614411798Granosyenite0.0000.0030.2503.00
140602 71528854614151798Granosyenite0.0000.0030.2503.00
140603 71533054614231800Granosyenite0.0000.0030.2502.00
140604 71533154614561801Granosyenite0.0000.0030.2502.00
140606 71541754615251810Granosyenite0.0000.0030.2500.50
140607 71546654615241811Granosyenite0.0000.0030.2500.50
140609 71550554614381805Subvolcanic0.0000.0030.2501.00
140610 71551054614061803Subvolcanic0.0000.0030.2502.00
140611 71547154614051802Subvolcanic0.0000.0030.2507.00
140612 71542054614081800Subvolcanic0.0000.0030.2502.00
140613 71537354614231800Subvolcanic0.0000.0030.2502.00
140619 71555154614521806Granosyenite0.0000.0030.2504.00
140620 71555654614331804Granosyenite0.0000.0030.2505.00
140621 71556954614071804Granosyenite0.0000.0030.2504.00
140622 71557254613781804Granodiorite0.0000.0030.2504.00
140625 71596054615561804Granosyenite0.0000.0030.2502.00
140629 71591754614231799Granosyenite0.0000.0030.2502.00
140630 71585054614181802Granosyenite0.0000.0030.2502.00
140632 71582054614671804Granosyenite0.0000.0030.2501.00
140633 71582154614381802Granosyenite0.0000.0030.2505.00
140635 71582154614001802Rhyolite0.0000.0030.2505.00
140636 71582854613661798Rhyolite0.0000.0030.2503.00
140637 71577854613661801Rhyolite0.0000.0030.2504.00
140638 71578654614171804Rhyolite0.0000.0030.2502.00
140640 71574354613621802Rhyolite0.0000.0030.2503.00
140641 71569354613861803Rhyolite0.0000.0030.2503.00
140642 71569254614131804Rhyolite0.0000.0030.2506.00
140643 71569154614381804Rhyolite0.0000.0030.2505.00
140645 71564954614091803Rhyolite0.0000.0030.2506.00
140646 71565454613851801Rhyolite0.0000.0030.2506.00
140647 71828254610421868Rhyolite0.0000.0030.2502.00
140651 71559854614091804Granosyenite0.0000.0030.2503.00
140652 71560454613761803Granosyenite0.0000.0030.2506.00
140659 71565954614791809Granosyenite0.0000.0050.2500.50
140660 71564654614271803Granosyenite0.0000.0030.2502.00
140677 71678554611751806Granite0.0000.0030.25024.00
140693 71559354616471818Granosyenite0.0000.0030.2500.50
140700 71548254615511812Granodiorite0.0000.0030.2500.50
140851 70557654634211809Rhyolite0.0000.0030.2501.00
140905 71810454610201863Granite0.0000.0030.2500.50

APPENDIX 2: SANT TOLGOI TABLE 1 (JORC 2012)

Set out below is Section 1 and Section 2 of Table 1 under the JORC Code, 2012 Edition for the Sant Tolgoi project. Data provided by Xanadu. This Table 1 is the first JORC Table 1 disclosure for the Sant Tolgoi Project.

1.1     JORC TABLE 1 - SECTION 1 - SAMPLING TECHNIQUES AND DATA

CriteriaJORC Code explanationCommentary
Sampling techniques
  • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
  • Samples were taken as surface rock chip samples.
  • 3kg of material was collected using geological hammer as numerous small golf ball sized chips over a 2m-by-2m area.
  • Samples were collected on a rough 50m- by-50m grid over areas of interest.
  • Samples were selected from as many rock types as possible.
Drilling techniques
  • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
  •  No drilling has been completed on the project.
Drill sample recovery
  • Method of recording and assessing core and chip sample recoveries and results assessed.
  • Measures taken to maximise sample recovery and ensure representative nature of the samples.
  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
  •  No drilling has been completed on the project.
Logging
  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
  • The total length and percentage of the relevant intersections logged.
  • No drilling has been completed.
  • Geological data was recorded for each rock chip sample and 1:20,000 and 1:2,000 scale geological mapping was completed over the areas of interest.
Sub-sampling techniques and sample preparation
  • If core, whether cut or sawn and whether quarter, half or all core taken.
  • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
  • For all sample types, the nature, quality and appropriateness of the sample preparation technique.
  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
  • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
  • Whether sample sizes are appropriate to the grain size of the material being sampled.
  • No drilling has been completed on the project.
  • The nature of the sampling (many small golf ball sized pieces of rock being collected over a 2m by 2m sized area) ensures the most representative sample can be collected for the grain-size of the host rocks as possible.
  • One standard and one blank sample inserted for every 40 samples collected.
  • OREAS-680 (Ni-Cu-PGE gabbronorite) standard with 160ppb Au, 218ppb Pd, 405ppb Pt, 0.9% Cu and 2.15% Ni.
  • The blank sample was OREAS 24D (Basalt blank pulp) blank with <1ppb Au, 43.2ppm Cu and 137ppm Ni.
Quality of assay data and laboratory tests
  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.
  • All samples were routinely assayed by ALS Mongolia for gold, multielement, oxides and by ALS Australia for PGE’s.
  • Au is determined using a 30g fire assay fusion, cupelled to obtain a bead, and digested with Aqua Regia, followed by an atomic absorption spectroscopy (AAS) finish, with a lower detection (LDL) of 0.005 ppm. (ALS code Au-AA23).
  • All samples were also submitted to ALS Mongolia for the 33-element package ME-ICP61 using a four acid digest (considered to be an effective total digest for the elements relevant to the MRE). Where copper is over-range (>1% Cu), it is analysed by a second analytical technique (Cu-OG62), which has a higher upper detection limit (UDL) of 5% copper. (ALS code ICP-ME61).
  • PGE is determined by ALS Australia using a 30g fire assay fusion and inductively coupled plasma, followed by an atomic emission spectroscopy (ICP-AES) finish, with a lower detection (LDL) of 0.005 ppm. (ALS code PGM-ICP23).
  • The selective samples also submitted to ALS Mongolia for trace element and oxides package ME-XRF15b using oxidizing fusion and followed by monochromatic excitation X-ray fluorescence (ME-XRF) spectrometry (ALS code ME-XRF15b).
  • Quality assurance has been managed by insertion of appropriate Standards (1:20 samples – suitable Ore Research Pty Ltd certified standards), Blanks (1:20 samples).
  • Assay results outside the optimal range for methods were re-analysed by appropriate methods.
  • Ore Research Pty Ltd certified copper and nickel standards have been implemented as a part of QC procedures, as well as certified  pulp blanks,.
  • QC monitoring is an active and ongoing processes on batch-by-batch basis by which unacceptable results are re-assayed as soon as practicable.
Verification of sampling and assaying
  • The verification of significant intersections by either independent or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • Discuss any adjustment to assay data.
  • All assay data QAQC is checked prior to loading into XAM’s Geobank data base.
  • The data is managed by XAM geologists.
  • The database and geological interpretation is managed by XAM.
  • There have been no adjustments to any of the assay data.
Location of data points
  • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic control.
  • Rock Chip samples were located using a handheld GPS.
  • The grid system used for the project is UTM WGS-84 Zone 46N.
  • The drone magnetic data was located using MagArrow II magnetometer.
  • Gravity data was located using Scintrex CG-5 AutoGrav equipment.
Data spacing and distribution
  • Data spacing for reporting of Exploration Results.
  • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity
  • Whether sample compositing has been applied.
  • Rock chip samples are spaced approximately 50m by 50m.
  • Drone magnetics was conducted on 40m line spacings.
  • Gravity data was collected on a 40m by 100m grid spacing.
  • Magnetics covers approximately 6.5% of the tenement.
  • Gravity covers approximately 6.5% of the tenement.
  • Rock Chip samples cover approximately 10% of the tenement.
Orientation of data in relation to geological structure
  • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • Sampling is opportunistic and conducted on available outcrop.
Sample security
  • The measures taken to ensure sample security.
  • Samples are dispatched from site in locked boxes transported on XAM company vehicles to ALS lab in Ulaanbaatar.
  • Sample shipment receipt is signed off at the Laboratory with additional email confirmation of receipt.
  • Samples are then stored at the lab and returned to a locked storage site.
Audits or reviews
  • The results of any audits or reviews of sampling techniques and data.
  • Internal audits of sampling techniques and data management are undertaken on a regular basis, to ensure industry best practice is employed at all times.

1.2     JORC TABLE 1 - SECTION 2 - REPORTING OF EXPLORATION RESULTS

(Criteria in this section apply to all succeeding sections).

CriteriaJORC Code (Section 2) ExplanationCommentary
Mineraltenementand landtenurestatus
  • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.
  • The Project comprises 2 Exploration Licences XV-017774 (Oyut) and XV-021887 (Sant Tolgoi).
  • Xanadu now have “Farm-in Deed” with STSM LLC and aims to own 50% of the project afterwards compilation phase II exploration.
  • The Mongolian Minerals Law (2006) and Mongolian Land Law (2002) govern exploration, mining and land use rights for the project.
Explorationdone byotherparties
  • Acknowledgment and appraisal of exploration by other parties.
  • Previous exploration was conducted by Mongolian and Soviet Geologists. Limited other exploration has been conducted.
Geology  
  • Deposit type, geological setting and style of mineralisation.
  • The mineralisation is characterized as Magmatic Cu-Ni mineralisation.
  • Magmatic Cu-Ni deposits are formed from magmatic hydrothermal fluids typically associated with mafic intrusive stocks or sills that have deposited metals as sulphides both within the intrusive and the intruded host rocks. The disseminated sulphides occurring both within the mafic intrusives and thought out the wall rock. The massive sulphides as lode may occur at the bottom of mafic intrusive bodies. Magmatic Cu-Ni deposits are typically low to high grade, moderate tonnage deposits are generally mined by shallow open pit mining method. The deposits at Sant Tolgoi are a typical in that they are associated with mafic intrusions of gabbro to hornblendite composition.
Drill holeInformation
  • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
  • Rock-Chip data, geological mapping, drone magnetics, gravity, CSAMT and DDIP data are the main sources of data for the project top date.
  • No Drilling has been conducted on the project to date.
  • See figures in ASX/TSX Announcement.
DataAggregation methods
  • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
  • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • No cut-offs or equivalent metal calculations have been used.
Relationship between mineralisationon widthsand interceptlengths
  • These relationships are particularly important in the reporting of Exploration Results.
  • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
  • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).
  • No drilling has been conducted.
  • No intervals have been reported.
Diagrams
  • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being  reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • See figures in ASX/TSX Announcement.
BalancedReporting
  • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • A full spreadsheet of the assay results received to date has been included in the body of the report.
Othersubstantiveexplorationdata
  • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • Limited work in this area has been done in the tenement.
FurtherWork
  • The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
  • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
  • Exploration ongoing.

1.3     JORC TABLE 1 - SECTION 3 ESTIMATION AND REPORTING OF MINERAL RESOURCES

Mineral Resources are not reported so this is not applicable to this report.

1.4  JORC TABLE 1 - SECTION 4 ESTIMATION AND REPORTING OF ORE RESERVES

Ore Reserves are not reported so this is not applicable to this report.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/7ac5d5ad-7390-455a-8a57-3bf01a26e665https://www.globenewswire.com/NewsRoom/AttachmentNg/b2708920-b474-48f5-b04f-3991ccf72366https://www.globenewswire.com/NewsRoom/AttachmentNg/0e1b2734-2497-4393-81aa-f22ea54a4fedhttps://www.globenewswire.com/NewsRoom/AttachmentNg/fe55fd8c-bef9-49f8-be95-77b3aa8f7b6chttps://www.globenewswire.com/NewsRoom/AttachmentNg/781d203c-90c6-444f-b974-d0876c549b5bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/31005bdd-a74b-4b8f-9ae3-9f94e1c5d861https://www.globenewswire.com/NewsRoom/AttachmentNg/5bac4ca0-8727-4fb1-845a-1001ac792176https://www.globenewswire.com/NewsRoom/AttachmentNg/27ec80a3-0575-4d7f-bb25-5745df271b79

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