XAM

Drilling Underway at Red Mountain Project

Retrieved on: 
Wednesday, March 27, 2024
Soil, Molybdenum, Target, XAM, Gold, Copper, ASX, Magnetism, Anomaly, TSX, Nowie, Orientation, Stockwork, Mining

Systematic diamond drilling program designed to test five high-priority targets, following up on more recent trenching and previous drilling; compelling results from the latter are highlighted, below:

Key Points: 
  • Systematic diamond drilling program designed to test five high-priority targets, following up on more recent trenching and previous drilling; compelling results from the latter are highlighted, below:
    First results from the drilling program are anticipated late April.
  • Red Mountain offers a rare opportunity to access a large, under-explored mineral district.
  • We are conducting a systematic exploration program, including diamond drilling, that we expect will provide a new perspective on the mineral potential of the Red Mountain district.
  • Figure 3: Exploration drilling has commenced at Red Mountain.

Kharmagtai Water Supply Drilling Program Recommences

Retrieved on: 
Wednesday, March 27, 2024
Water supply, SRK, Growth, Hydrology, Mineral Resources Limited, ZUK, Disclosure, XAM, Data, ASX, Groundwater, Permeability, TSX, SABC, Rio Tinto, Water, PFS, Stage 2, Mining, Tunnel

Water supply is a core input to the study; a key driver to maximise processing throughput for the project.

Key Points: 
  • Water supply is a core input to the study; a key driver to maximise processing throughput for the project.
  • We are confident in this field program and aim to demonstrate that, to a PFS standard, there is an adequate supply of water for Kharmagtai, to ensure its successful delivery as Mongolia’s next major copper-gold mine in the south Gobi region of Mongolia.”
    The hydrological program has six key objectives to provide water supply for Kharmagtai operations.
  • The Kharmagtai PFS seeks to maximise water recycling through the use of industry best practices including efficient process design, modern tailings dam design and thickened tailings to reduce water loss.
  • The order of monitoring bore drilling will change as the field program progresses, including progress of production bore drilling.

Encouraging oxide leach recovery for copper & gold at Kharmagtai

Retrieved on: 
Wednesday, March 6, 2024
SOX, PFS, Copper, TSX, GOX, ASX, PEA, Gold, MRE, Particle size, Nitrogen oxide, DMPS, ROX, Economics, XAM, Silver, Internal, Uranium mining

Upscaled column leach tests, as well as heap leach engineering design work are in progress.

Key Points: 
  • Upscaled column leach tests, as well as heap leach engineering design work are in progress.
  • Recent column leaching tests completed on the mineralised oxide portion of the Kharmagtai Mineral Resource Estimate (MRE) delivered promising metallurgical extraction, peaking at 93% copper and 46% gold.
  • It comprises acid leach to recover and remove cyanide soluble copper, followed by GlyCatTM, which involves a glycine leach to neutralise acid, followed by cyanide leach to recover gold and silver.
  • These are referenced as follows:
    several composite samples collected from White Hill, Stockwork Hill and Copper Hill deposits, and classified as follows: GOX (Green Oxide), SOX (Strong Oxide) and ROX (Red Oxide).

Completion of Placement to Zijin Mining

Retrieved on: 
Tuesday, March 5, 2024
Foreign Investment Review Board, FIRB, TSX, Completion, ASX, XAM

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.

Key Points: 
  • TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.
  • Details of the proposed placement to Zijin were announced to ASX on 20 November 2023 and 8 December 2023.
  • Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 6 February 2024, and approval by the Foreign Investment Review Board (FIRB) last week.
  • The Company has relied upon the exemption in section 602.1 of the TSX Company Manual in respect of the placement as an Eligible Interlisted Issuer.

Metallurgical Tests at Kharmagtai Show Strong Sulphide Rougher Flotation Recovery

Retrieved on: 
Monday, March 4, 2024
PFS, Copper, ALS, TSX, MPS, ASX, Gold, P80, XAM

The sulphide rougher recovery results represent a very positive technical and economic outcome for the Kharmagtai Pre-Feasibility Study (PFS).

Key Points: 
  • The sulphide rougher recovery results represent a very positive technical and economic outcome for the Kharmagtai Pre-Feasibility Study (PFS).
  • PFS stage metallurgical test work completed for sulphide rougher process recoveries.
  • Rougher flotation tests delivered metallurgical recoveries up to 98% copper and 95% gold, at head grades up to 1.6% Cu and 2.0g/t Au at P80 grind size of 150 micron (µm).
  • It included head grade analysis and rougher flotation recovery test work on 26 samples taken from varying deposits, depths, sulphide and alteration types, using a 150 µm grind size.

Completion of Placement to Zijin Mining

Retrieved on: 
Monday, March 4, 2024
TSX, Foreign Investment Review Board, FIRB, ASX, XAM, Completion

TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.

Key Points: 
  • TORONTO, March 04, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today.
  • Details of the proposed placement to Zijin were announced to ASX on 20 November 2023 and 8 December 2023.
  • Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 6 February 2024, and approval by the Foreign Investment Review Board (FIRB) last week.

Results of 2024 Extraordinary General Meeting

Retrieved on: 
Tuesday, February 6, 2024
CTH, ASX, TSX, Mass meeting, Corporation, XAM

TORONTO, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu or the Company) advises that as required by ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001 (Cth), the results of Xanadu Mines Ltd’s 2024 Extraordinary General Meeting held today, are set out in the attached report and includes a summary of the poll voting results and votes by proxies on the items of business considered at the General Meeting.

Key Points: 
  • TORONTO, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu or the Company) advises that as required by ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001 (Cth), the results of Xanadu Mines Ltd’s 2024 Extraordinary General Meeting held today, are set out in the attached report and includes a summary of the poll voting results and votes by proxies on the items of business considered at the General Meeting.

Kharmagtai Drilling Highlights Continued Growth Potential

Retrieved on: 
Tuesday, January 30, 2024
Copper, Growth, PFS, MRE, TSX, Gold, XAM, Golden eagle, ASX, Mining

Exploration drilling continues to expand upon the new zone of higher-grade copper and gold mineralisation at the White Hill deposit, demonstrating progressive growth in higher-grade material at the base of the previously optimised open pits.

Key Points: 
  • Exploration drilling continues to expand upon the new zone of higher-grade copper and gold mineralisation at the White Hill deposit, demonstrating progressive growth in higher-grade material at the base of the previously optimised open pits.
  • Growth-focused discovery exploration drilling at Kharmagtai continues to discover new, shallow mineralisation with potential to enhance open pit mining and deep mineralisation with potential for future underground mining.
  • 3 ASX/TSX Announcement 8 December 2023 – Kharmagtai Mineral Resource Grows by 13% CuEq; including >25% increase in higher-grade core
    Xanadu’s Executive Chairman and Managing Director, Mr Colin Moorhead, said “Latest drilling results provide more evidence for continued growth and improvement at the Kharmagtai deposit.
  • Figure 1: Kharmagtai copper-gold district showing defined mineral deposits and completed infill drill holes, deep exploration drill holes, and shallow exploration drill holes since the last announced drilling results5.

Xanadu Enters into New Magmatic Copper and Nickel Sulphide Project

Retrieved on: 
Monday, January 22, 2024
ASX, JV, Agreement, Tenement, XAM, TSX, Project, Zavkhan Province, USD, Joint venture, Copper, Nature, Cupronickel, Rare-earth element

These two licenses make up the Sant Tolgoi Project, which is considered highly prospective for discovery of new magmatic intrusion-related Copper-Nickel systems.

Key Points: 
  • These two licenses make up the Sant Tolgoi Project, which is considered highly prospective for discovery of new magmatic intrusion-related Copper-Nickel systems.
  • Xanadu agrees binding term sheet for Sant Tolgoi, a prospective district scale magmatic copper-nickel project.
  • The Tenement portfolio includes numerous advanced exploration targets with real opportunity for the discovery of significant magmatic copper and nickel mineralisation.
  • STSM may give notice to trigger a negotiated loan from Xanadu with certain interest (≥10%) to their 20% pro rata.

Notice of Extraordinary General Meeting

Retrieved on: 
Monday, January 15, 2024
ASX, Meeting, XAM, Executive, TSX, AEDT, Victoria Hotel

TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) announces that an Extraordinary General Meeting (“EGM”) will be held on Tuesday, February 6, 2024 commencing at 11:00 am (AEDT) at the Victoria Hotel, 215 Little Collins Street, Melbourne, Victoria, Australia (the “Meeting”).

Key Points: 
  • TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) announces that an Extraordinary General Meeting (“EGM”) will be held on Tuesday, February 6, 2024 commencing at 11:00 am (AEDT) at the Victoria Hotel, 215 Little Collins Street, Melbourne, Victoria, Australia (the “Meeting”).
  • Further to the Company’s press release of November 20, 2023, the Meeting has been called to seek approval of two resolutions:
    Ratification of prior issue of 62,996,490 new shares to Tranche 1 Participants, eligible professional and sophisticated investors
    Issue of 15,185,328 new shares to Tranche 2 participant Jinping (Singapore) Mining Pte Ltd, a wholly owned subsidiary of Zijin Mining Group Co., Ltd.
    Materials for the Meeting have been mailed to shareholders of record and are available for review on the Company’s website or on the Company’s SEDAR profile.
  • This announcement has been authorised for release by the Executive Chairman.