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Ivanhoe Mines Ltd T.IVN

Alternate Symbol(s):  IVPAF

Ivanhoe Mines Ltd. is a Canada-based mining, development, and exploration company. The Company is focused on the mining, development and exploration of minerals and precious metals from its property interests located primarily in Africa. Its projects include The Kamoa-Kakula Copper Complex, The Kipushi Project, The Platreef Project., and The Western Foreland Exploration Project. The Kamoa-Kakula Copper Complex project stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometers (km) west of the town of Kolwezi and about 270 km west of the provincial capital of Lubumbashi. The Kipushi mine is adjacent to the town of Kipushi in the Democratic Republic of the Congo (DRC) approximately 30 km southwest of the provincial capital of Lubumbashi. The 21 licenses in the Western Foreland cover a combined area of 1,808 square kilometers to the north, south and west of the Kamoa-Kakula Copper Complex.


TSX:IVN - Post by User

Bullboard Posts
Post by wawahunt2on Sep 12, 2017 11:07am
237 Views
Post# 26684621

making the news

making the newsAssays from a further 43 holes at the project in the Democratic Republic of Congo have defined a high-grade mineralised zone at Kakula West measuring 1km with a 2.9km strike length.
High-grade intercepts from Kakula West include 26.05m of 4.37% copper and 9.62m at 7.57% and highlights from drilling at Kakula include 6.16m at 9.2% copper from 578m.
“The discovery remains open in virtually all directions, so the real question is, how much bigger and better is Kakula going to get?” executive chairman Robert Friedland said.
An accelerated drilling programme is underway and the company expects enough drilling by October to define resources over the entire strike length of the Kakula discovery which now spans 12km, a 60% increase on the area covered in its May resource estimate which took the project’s total indicated resource to about 1 billion tonnes grading 3.02%.
CEO Lars-Eric Johansson said the company was working on a 6 million tonne per annum pre-feasibility study for Kakula and the development plans would be assessed and amended as the project advanced.
“Ultimately, we see the potential for an additional mining centre at Kakula West, which could increase the ultimate mining rate at Kamoa-Kakula to at least 18Mtpa, through a number of phased expansions,” he said.
Both Ivanhoe and Zijin Mining hold an indirect 39.6% stake in Kamoa-Kakula, Crystal River Global holds 0.8% and the DRC government has 20%.
Shares in Ivanhoe lost 1c yesterday to C$4.60 but are up more than 81% year-to-date.
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