KEY WORDSDOUBLED IN SIZE FOR SECOND TIME THIS YEAR, TO 149
MILLION TONNES AT 2.88% COPPER AND 0.53 g/t GOLD.
newly completed highway to the Mongolian border
The Hugo Deposit is the largest of the four copper and gold deposits outlined to date at Ivanhoe's Turquoise Hill (Oyu Tolgoi) Project
Turquoise Hill Project hosts one of the world's largest and highest-grade gold/copper porphyry systems.
- The total inferred resources at a cut-off grade of 0.60% copper
equivalent for all four deposits on the Turquoise Hill property have
been increased to 1.28 billion tonnes grading 1.13% copper and
0.24 g/t gold. Based on drilling to this point in time, AMEC estimates
that the property contains an inferred resource of approximately
14.0 million tonnes (30.8 billion pounds) of copper and 8.8 million
ounces of gold - an increase of 39% in the amount of copper and an
increase of 61% in the amount of gold since the previous estimate was
issued on August 25.
new resource estimates now are being incorporated into the independent scoping study
Turquoise Hill and provide a fast-track development strategy to achieve early production from planned open pits in the gold-rich Southwest Oyu Deposit
provide Ivanhoe with multiple development scenarios
we also have begun the process of assembling a top-notch team of mine builders, to be led by industry veteran John Macken who was appointed as Ivanhoe's new President on November 5th."
world-class discovery as confirmed by a panel of internationally recognized experts