Ivanhoe Mines Comments On Share PriceANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 14, 2017) - Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF) announced today that the company is not aware of any specific reason that might be contributing to the recent decline in the company's share price. Ivanhoe Mines is making excellent progress at its three mine development projects: Kamoa-Kakula, Kipushi and Platreef.
While geopolitical tensions have been making news headlines, business and investment media also have reported recent, significant gains in US$ pricing for copper, zinc and platinum-group metals. The depreciation of local currencies in the current risk-off environment means that some of Ivanhoe's exploration and development costs also have been declining in equivalent US-dollar values. In South Africa, the majority of Ivanhoe's costs to develop its Platreef Mine are being incurred in South African rand. Ivanhoe believes that these circumstances provide an excellent opportunity to deepen the company's commitment to its tier-one mining assets. Ivanhoe is not aware of any inherent reason in the events to justify a decline in its share price.
The drilling program at the Kamoa-Kakula Project, with 14 rigs, is continuing to expand and upgrade the high-grade Kakula mineralized trend. Drill intercepts rich in chalcocite and bornite continue to be returned at Kakula West and in the saddle area between the Kakula Mineral Resource area and the Kakula West discovery area. Drilling now has more than doubled the strike length of the Kakula West copper-rich mineralized system to approximately 2.9 kilometres, and also continued the extension of the high-grade Kakula mineralized system to more than 12 kilometres.
Ivanhoe expects to issue a comprehensive drilling update for the Kakula Copper Discovery in early September, which will include assays received since the May 2017 resource estimate. An updated Mineral Resource estimate for the entire 12-kilometre-long Kakula mineralized system that has been defined to date, including the Kakula West Discovery, is expected before the end of the year.
Ivanhoe recently began drill testing of two of the nine high-priority, new target areas at the Kamoa-Kakula Project: Kamoa Ouest (West) and Makalu/Kakula NE. Ivanhoe also has initiated a US$4 million exploration program on its 100%-owned exploration land position in the Western Foreland region, just to the west of the Kamoa-Kakula mining licence, which is highly prospective for Kamoa-Kakula-type copper discoveries. Results from both exploration programs will be made available as they are received.
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