Xanadu Mines has revealed its massive Mongolian copper-gold Kharmagtai deposit is now connected to the local electric grid, paving the way for current and future construction and exploration activities.
The company says its vital 35,000-volt connection to the Mongolian Southern Electricity Distribution Network is expandable and will accommodate Kharmagtai moving closer towards operational mine status. It also satisfies the needs of the current prefeasibility Study (PFS), exploration activities and current constructions, which include a modern 30-person accommodation block for an expanded workforce, a high-tech core shed, a drinking water filtration system and a greenhouse run by locals.
The company is on track to produce a PFS resource update for its 50 percent-owned and operated Kharmagtai project by year’s end after completing two phases of infill drilling. It shares the project with its joint venture partner, Chinese copper giant Zijin Mining Group.
Kharmagtai already hosts an impressive mineral resource estimate of 1.1 billion tonnes for 3 million tonnes of contained copper and 8 million ounces for 3.3 million ounces of contained gold, while remaining open along strike and at depth. A scoping study revealed a potential US$630 million (AU$975.2 million) net present value for a 30-year mine producing 50,000 tonnes of copper and 110,000 ounces of gold annually.