Xanadu Mines signed a binding term sheet with STSM, granting the right to earn up to an 80% interest in two exploration licenses comprising the Sant Tolgoi Project in Western Mongolia.
The project is highly prospective for magmatic intrusion-related copper-nickel systems.
The agreement aligns with Xanadu's Horizon 3 strategy, focusing on future-facing metals projects. Detailed mapping, geochemistry, and geophysics are scheduled to commence in March.
The Sant Tolgoi Project, covering over 40km2, presents numerous advanced exploration targets for significant copper and nickel mineralisation.