Xanadu Mines Reveals Increased Resource Estimate

Xanadu Mines Ltd (AU:XAM) has released an update.

Xanadu Mines Ltd has announced a significant update to their Mineral Resource Estimate and the declaration of a Maiden Ore Reserve for their Kharmagtai copper-gold project in Mongolia. The revisions, which follow the company’s Pre-Feasibility Study, show a substantial increase in contained copper and gold, with the reported reserves comprising 1.6 million tonnes of copper and 4 million ounces of gold. These updates have been made without additional drilling and are based on changes to the economic cut-off grades, highlighting the project’s potential scale and expansion possibilities.

For further insights into AU:XAM stock, check out TipRanks’ Stock Analysis page.