Xanadu Mines boss Colin Moorhead says funding security from the company’s union with Chinese giant Zijin Mining fosters a strong investment case for production at its Kharmagtai copper-gold project in Mongolia.
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Xanadu Mines has entered into a binding term sheet to earn up to 80 per cent of the Sant Tolgoi project in Mongolia which hosts multiple shallow copper-nickel targets over several kilometres of strike. The deal adds to the company’s already significant presence in Mongolia which is home to its flagship Kharmagtai copper-gold project and its highly prospective Red Mountain
Figure 1 Sant Tolgoi Cu-Ni project is located in the Zavkhan Province approximately 1,100 km west of Ulaanbaatar, Mongolia. Project to located close to established infrastructure. Figure 2 Sant Tolgoi Cu-Ni project covers two granted Exploration Licences XV-17774 (Oyut) and XV-21887 (Sant Tolgoi) a combined area of area of over 40km2. TORONTO, Jan. 22, 2024 (GLOBE NEWSWIRE) Xanadu Mines Ltd (ASX: XAM, TSX: XAM) (Xanadu, XAM or the Company) is pleased to announce it has agreed a binding term s