Ivanhoe to publish resource estimates for two DRC copper deposits by mid-year
TSX-listed Ivanhoe Mines aims to publish an independent mineral resource estimate (MRE) on the Western Foreland licence area’s Makoko and Kiala deposits by mid-year.
The company confirms that this estimate will be closely followed by the publication of a preliminary economic assessment.
Ivanhoe has set aside a $19-million budget for exploration on the Western Foreland licences, including up to 70 000 m of drilling, starting in April.
The company is targeting high-grade Kamoa-Kakula-style copper mineralisation across the 2 407 km2 Western Foreland licence package, which lies adjacent to the Kamoa-Kakula Copper Complex, in the Democratic Republic of Congo (DRC).
Ivanhoe has been undertaking airborne and ground-based geophysical surveys, regional air core and diamond drilling and an evaluation of historical data sets on the Western Foreland area since July 2017. The MRE for the two targets will incorporate drill data acquired in 2022.
Particularly, drilling to date at Makoko, which is about 20 km west of the Kakula deposit, has defined a flat-lying, stratiform copper deposit that is geologically similar to the Kamoa and Kakula deposits. In turn, Kiala adjoins the northern boundary of the Kamoa-Kakula mining licence and marks the northern extension of the Kamoa Far North zone. The Kiala deposit lies within the Kamoa-Kakula joint venture (JV) area.
Ivanhoe says it will continue to pursue new licence applications and also explore opportunities for JVs across the region in areas it considers prospective.
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