Ivanhoe Mines and Zijin Mining report more high-grade copper at Kamoa Copper Project

Broken rock being removed from the twin declines at the Kamoa box cut that will provide access to the planned underground mine at Kansoko Sud.

Broken rock being removed from the twin declines at the Kamoa box cut that will provide access to the planned underground mine at Kansoko Sud.

Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. [IVN-TSX; IVPAF-OTC] and Lars-Eric Johansson, CEO, reported assay results from another 16 holes of the ongoing 2016 drilling campaign at the Kakula Discovery on the company’s Tier One Kamoa Copper Project, near the mining centre of Kolwezi in the Democratic Republic of Congo (DRC). The Kamoa Project is a joint venture between Ivanhoe Mines and Zijin Mining.

“Kakula is continuing to demonstrate that it is substantially richer, thicker and more consistent than other mineralization that we have found elsewhere on the Kamoa Project,” said Friedland. “Given the consistent and thick intercepts at shallow depths of very-high-grade copper mineralization, Kakula is quickly becoming a key focus in our planning for the development of the Kamoa Project.”

Highlights of the latest drill results, which further reinforce the exceptional grades and shallow, flat-lying geometry of the Kakula mineralized zone, include:

  • DD1024 intersected 6.14 metres (true width) of 6.52% copper at a 3.0% copper cut-off, beginning at a downhole depth of 312.0 metres; 8.21 metres (true width) of 5.58% copper at a 2.5% copper cut-off; 12.99 metres (true width) of 4.34% copper at a 2.0% copper cut-off; and 14.42 metres (true width) of 4.10% copper at a 1.0% copper cut-off.
  • DD1036 intersected 5.48 metres (true width) of 6.90% copper at a 3.0% copper cut-off beginning at a downhole depth of 274 metres; 7.38 metres (true width) of 5.77% copper at a 2.5% copper cut-off; 13.05 metres (true width) of 4.31% copper at a 2.0% copper cut-off; and 13.99 metres (true width) of 4.13% copper at a 1.0% copper cut-off.
  • DD1039 intersected 11.91 metres (true width) of 6.23% copper at a 3.0% copper cut-off beginning at a downhole depth of 332 metres; 17.87 metres (true width) of 5.08% copper at a 2.5% copper cut-off; 18.56 metres (true width) of 4.98% copper at a 2.0% copper cut-off; and 20.55 metres (true width) of 4.65% copper at a 1.0% copper cut-off.
  • DD1041 intersected 4.04 metres (true width) of 7.39% copper at a 3.0% copper cut-off beginning at a downhole depth of 615 metres; 4.80 metres (true width) of 6.63% copper at a 2.5% copper cut-off; 6.70 metres (true width) of 5.42% copper at a 2.0% copper cut-off; and 13.36 metres (true width) of 3.37% copper at a 1.0% copper cut-off.
  • DD1043W1 intersected 4.21 metres (true width) of 9.44% copper at a 3.0% copper cut-off beginning at a downhole depth of 346.74 metres; 4.89 metres (true width) of 8.48% copper at a 2.5% copper cut-off; 12.50 metres (true width) of 4.69% copper at a 2.0% copper cut-off; and 15.24 metres (true width) of 4.09% copper at a 1.0% copper cut-off.
  • DD1045 intersected 8.44 metres (true width) of 6.96% copper at a 3.0% copper cut-off.

beginning at a downhole depth of 505.22 metres; 9.31 metres (true width) of 6.59% copper at a 2.5% copper cut-off; 11.44 metres (true width) of 5.81% copper at a 2.0% copper cut-off; and 13.94 metres (true width) of 5.03% copper at a 1.0% copper cut-off.

  • DD1047 intersected 7.90 metres (true width) of 8.85% copper at a 3.0% copper cut-off beginning at a downhole depth of 359 metres; 8.89 metres (true width) of 8.17% copper at a 2.5% copper cut-off; 14.37 metres (true width) of 5.89% copper at a 2.0% copper cut-off; and 21.28 metres (true width) of 4.47% copper at a 1.0% copper cut-off.

Approximately 27,000 metres of drilling has been completed since the current Kakula drilling program began earlier this year. The initial plan was to drill a total of approximately 34,000 metres in 2016. However, given the outstanding success of the program, plans are being developed to expand the 2016 drill program and extend it into 2017.

Kamoa Copper intends to prepare an initial independent Mineral Resource estimate for the Kakula Discovery in early October, 2016. Results for nine holes remain outstanding that will be included in the estimate. Amec Foster Wheeler, of Reno, Nevada, has been engaged to oversee the estimate.

The main objective of the current drilling program at Kakula is to confirm and expand the thick, flat-lying, bottom-loaded zone of very-high-grade, stratabound copper mineralization at the southern part of the Kakula Discovery area (see Figure 2) that has the potential to be amenable to bulk, mechanized mining and therefore could have a significant, positive impact on the Kamoa Project’s future development plans. The 60-square-kilometre Kakula exploration area is approximately 10 kilometres southwest of Kamoa’s planned initial mining area at Kansoko Sud.

To help advance the ongoing evaluation of Kakula, the Kamoa technical team is proceeding with the engineering and preparation of tender documents for the construction of a box cut at Kakula to accommodate decline ramps that will provide underground access to the deposit. A preferred site for the box-cut development has been chosen and geotechnical work has begun.

Refer to Ivanhoe website at http://www.ivanplats.com for tables maps and figures.

Kamoa is the world’s largest, undeveloped, high-grade copper deposit. On February 23, 2016, an updated Mineral Resource estimate was issued for the Kamoa Project. Kamoa’s Indicated Mineral Resources presently total 752 million tonnes grading 2.67% copper and containing 44.3 billion pounds of copper at a 1.0% copper cut-off grade and minimum thickness of three metres. In addition to the Indicated Resources, the updated estimate included Inferred Mineral Resources of 185 million tonnes grading 2.08% copper and containing 8.5 billion pounds of copper, also at a 1.0% copper cut-off grade and a minimum thickness of three metres.

The initial independent Mineral Resource estimate for the Kakula discovery, which is expected to be issued in early October, 2016, will be in addition to the Indicated and Inferred Mineral Resources announced on February 23, 2016.

Filed in: Base Metals, Resources

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