Sanadu Mining Company announced that it has seen thick bonanzas at the Stockwork Hill deposit in the Khamagtai porphyry copper-gold project in South Gobi Province, Mongolia.
The borehole saw 226 meters at a depth of 612 meters, with a copper grade of 0.68% and a gold grade of 1.43 g/ton, of which 61 meters at a depth of 651 meters, with a copper grade of 1.43% and gold grade of 3.76 g/ton.
The company said that the drilling saw the most intensive bornite mineralization in the Chamagote project so far.
The company believes that this mineralization feature is similar to the high-grade Hugo Dummett deposit in the Oyu Tolgoi giant copper-gold deposit, showing the potential of Chamagote.
The first batch of drilling is about to be completed. Including 33 diamond boreholes with a total footage of 22,933 meters, of which 21,404 meters were sampled for analysis and the results have been received.
While verifying the extension zone of the Wangshan deposit, the company is also verifying Zarra, Copper Hill and 5 new exploration areas.
The follow-up drilling plan is under development.
The company also has a project called Red Mountain in Mongolia.
Hamagete’s new exploration targets and resource estimation results will be announced in the first quarter.