Ann: Drilling at Zaraa supports shallow high-grade potential, page-2

I like this - some better grades coming through, getting close to that 1% CuEq mark and not too deep. The market isn't currently giving them much credit for it but I like the way they are going about exploration at Zaraa.

"Xanadu’s Managing Director & Chief Executive Officer, Dr Andrew Stewart, said: “We are extremely pleased with progress at the new Zaraa discovery. After our initial drill holes showed Zaraa to be a very large-scale system with high-grade potential, our program has turned to bringing Zaraa to surface.

KHDDH469 entered consistent and strong mineralisation at a depth of 330m vertically from surface. Drill hole KHDDH469 is one more step towards defining the size, shape and grade of Zaraa. With additional shallow drilling we believe we can bring this new discovery into open pit range. The objective at Zaraa is to first define a large-scale open pit resource, then step deeper towards the higher-grade underground potential.

Following the discovery of our fourth porphyry centre at Zaraa we believe the Kharmagtai project is approaching a near-term development opportunity. Our objective at Kharmagtai now is to work on a new mineral resource estimate for a low strip ratio, high quality standalone open-pit project and quickly demonstrate economic viability. We look forward to updating shareholders as results come to hand.”