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Ivanhoe Mines Ltd.
Summary
| Project: | Makoko | |
|---|---|---|
| Deposit: | Makoko | |
| Location: | Democratic Republic Of Congo | |
| Commodities: | Copper | |
| Date: | 10/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-10-2018: Ivanhoe Mines Ltd. announces an Exploration/Drilling Update report for its Makoko deposit at the Makoko project. Drilling results incl. 9.92m @ 6.51% Cu from 523.51m. KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO — Robert Friedland and Yufeng “Miles” S | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Torr (Internal) | |
| ABSTRACT: | KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO — Robert Friedland and Yufeng “Miles” Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), announced today that the company has made an important new discovery of high-grade copper on its 100%-owned Western Foreland licences, west of the Kamoa-Kakula mining licence in the Democratic Republic of Congo (DRC). Ivanhoe holds an extensive land package, totalling approximately 700 square kilometres, of prospective, 100%-owned exploration licences in the Western Foreland area. Ivanhoe began exploration drilling on the licences in the third quarter of 2017. To date, the company has drilled more than 50 holes, the great majority of which have been in the Makoko Discovery area. Makoko is the first of multiple high-potential target areas identified by Ivanhoe’s exploration team to be tested by drilling. An initial, independent resource estimate for the Makoko Copper Discovery is expected in the current financial quarter. In addition, Ivanhoe recently began exploration drilling on other targets identified in the Western Foreland area to test for highgrade copper the drill holes completed to date at Makoko. “This latest discovery at Makoko validates our exploration model for the geologic features controlling the high-grade copper mineralization in the region,” said Mr. Friedland. “This model reflects the accumulation of in-depth, proprietary geological insights gained by Ivanhoe's exploration team during nearly two decades of exploring in the region. “Given the early drilling success at Makoko, we are highly confident that we have the secret blueprint for additional exploration successes in the Western Foreland area in 2019 and beyond. “We are in the privileged position of owning 100% of a massive exploration land package with outstanding geological potential next door to our Kamoa and Kakula discoveries. KamoaKakula already has been independently established as the world’s fourth-largest copper project and still is growing. It has copper grades that are the highest, by a wide margin, of the world’s top 10 copper deposits,” Mr. Friedland added. | |
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