Xanadu Mines Ltd. Wednesday announced significant improvements in copper and gold recoveries from metallurgical testing from its flagship at Kharmagtai project, which is located in the south Gobi region of Mongolia. The new metallurgical test program has expanded on that conducted during the 2018 Mineral Resource Estimate and 2019 Scoping Study and has produced substantial improvements in copper and gold recovery and in copper concentrate copper and gold grades, the company said in its announcement. “We are extremely pleased with these new metallurgical results from Kharmagtai, which are in line with or better than expected at this stage in the project’s life and we are comfortable that additional improvements can be made further down the track. These early-stage flotation test results are very encouraging and indicate that a standard crushing, grinding and flotation process will be enough to deliver good extraction of the economic minerals from the deposit. In combination with the low content of deleterious elements, we foresee no significant hurdles to producing a high-quality concentrate via standard processing pathways that will be in high demand from all the major global copper smelters, at a time the time of production,” said Xanadu’s Managing Director and Chief Executive Officer, Dr. Andrew Stewart. According to the report, Xanadu had an estimated 4.5 percent increase in copper recovery to achieve an average recovery of 89.5 percent for the two main metallurgical composites. The company's shares rose 3.33 percent to AUD 0.03 since the trade opening of the Australian Stock Exchange (ASX) on Wednesday.

Published Date:2019-12-12