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Ivanhoe Mines Update on Kamoa Copper Discovery

Mining News - Published on Wed, 12 Feb 2020

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Ivanhoe Mines announced the completion of an independently-verified, updated Mineral Resource estimate for the Kamoa-Kakula Copper Project in the Democratic Republic of Congo. The Kamoa Deposit, originally discovered by Ivanhoe Mines' geologists in 2008, is one of two very large, near-surface, flat-lying, stratiform copper deposits discovered to date on the 400-square-kilometre Kamoa-Kakula mining licence. The other major deposit Kakula is being fast-tracked to commercial production, with the initial 3.8 million-tonne-per-annum mining operation scheduled to produce first concentrate in Q3 2021.

Kamoa Deposit includes the recently-discovered, ultra-high-grade Kamoa North Bonanza Zone and the Far North Zone.

The new Mineral Resource estimate is the culmination of an infill drilling program designed to better define higher-grade copper zones within the existing Kamoa Deposit.

At a 1% cut-off, Kamoa's Indicated Mineral Resources now total 760 million tonnes grading 2.73% copper, containing 45.8 billion pounds of copper. At the same 1% cut-off, Kamoa's Inferred Mineral Resources now total 235 million tonnes grading 1.70% copper, containing 8.8 billion pounds of copper.

At a 3% cut-off, the new Mineral Resource estimate boosts the Kamoa Deposit's Indicated Mineral Resource tonnages by 15% and contained copper by 15.5%, to a total of 256.8 million tonnes at a grade of 4.15% copper. At the same 3% cut-off, Kamoa's Inferred Mineral Resources now total 13 million tonnes at a grade of 3.51% copper.

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Posted By : Rabi Wangkhem on Wed, 12 Feb 2020
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