Feb 19 2015
Robert Friedland, Executive Chairman of Ivanhoe Mines, and Lars-Eric Johansson, Chief Executive Officer, announced today that additional, exceptionally high-grade zinc, copper and silver drill intercepts have been reported in the fourth batch of assay results from the company's underground diamond-drilling program at the historic, high-grade Kipushi copper-zinc-germanium-lead and precious-metals mine.
Drilling at depth to the south of the Big Zinc zone has revealed a new intersection of massive sulphide mineralization containing sphalerite (zinc), chalcopyrite (copper) and pyrite. Hole KPU072 - drilled through the historical Big Zinc zone from the hanging-wall drill drift 1,272 metres below surface to test for the depth extension of the Big Zinc to the south - intersected a zone of significant massive sulphide mineralization over a down-hole length of 60 metres. It is uncertain at this stage if the intersection forms a down plunge extension of the Big Zinc zone or is a separate body of mineralization.
"Our underground drilling program at Kipushi is continuing to deliver exceptionally high-grade intercepts in several target areas, while leading to an improved understanding of geology and structural controls on the mineralization," said Mr. Friedland.
"The recent intercept in hole KPU072 highlights the potential to discover new zones of high-grade zinc and copper mineralization. We're looking forward to drill-testing these targets as our drilling program continues."
The Kipushi Mine is on the Central African Copperbelt in southern Katanga province, approximately 30 kilometres southwest of Lubumbashi and less than one kilometre from the DRC-Zambia border.
Highlights of the new assay results include:
- KPU051 drilled on section line 7: 188.5 metres grading 49.7% zinc, 0.3% copper, 15 grams per tonne (g/t) silver and 58 g/t germanium.
- KPU055 drilled on section line 7: 162.9 metres grading 51.1% zinc, 0.4% copper, 11 g/t silver and 59 g/t germanium.
- KPU057 drilled on section line 5: 175.7 metres grading 50.3% zinc, 0.3% copper, 11 g/t silver and 27 g/t germanium.
- KPU058 drilled on section line 11: 41.4 metres grading 42.1% zinc, 3.8% copper, 54 g/t silver and 71 g/t germanium, including a copper-rich intercept of 6.0 metres grading 6.0% zinc, 22.6% copper, 203 g/t silver and 177 g/t germanium.
- KPU061 drilled on section line 5: 75.6 metres grading 46.2% zinc, 0.3% copper, 20 g/t silver and 89 g/t germanium, plus a second intercept of 64.9 metres grading 44.7% zinc, 1.1% copper, 14 g/t silver and 128 g/t germanium.
The new assay results also included results in the Série Récurrente (Recurring Series) zone. It included the following significant intercept:
- KPU049 (Série Récurrente zone): 9.7 metres true thickness grading 11.8% copper, 6.0 % zinc and 73.0 g/t silver, including a higher grade intercept of 6.4-metre true thickness grading 16.8% copper, 7.7% zinc, 104 g/t silver.
Potential new zone of zinc mineralization discovered in hole KPU072
Ivanhoe's drilling program now is focused on exploration for new zones of mineralization below the historical indicated resources. The first of these holes, KPU072, was collared from section 17 on the 1,272-metre level hanging-wall drift and drilled at -64 degrees to 190 to test along the southerly plunge of the Big Zinc. The hole encountered Big Zinc mineralization until a down-hole depth of 286 metres when it passed into dolomites of the middle Kakontwe. The hole then entered a new zone of mineralization at a down-hole depth of 417.32 metres to 477.17 metres (60-metre drilled length), approximately 140 metres below the base of historical indicated resources.
Mineralization appears similar in style and zonation to the Big Zinc, with mixed massive red sphalerite (iron bearing), chalcopyrite and minor pyrite from 417.32 metres to 420.55 metres, massive pale brown sphalerite (zinc rich) from 420.55 metres to 468.09 metres, and massive pyrite with accessory chalcopyrite and sphalerite from 468.09 metres to 477.17 metres. The core intersection angles suggest the zone may have a true width of approximately 30 metres.
KPU072 is the second hole to successfully intersect Big Zinc-style massive sulphides at depth. The first, KPU003, intersected a zone of massive sulphides approximately 180 metres below the historical measured and indicated resources and 130 metres west from the new KPU072 intercept. The KPU003 intersection returned a previously reported 58.6% zinc and 293.8 g/t germanium over 22.3 metres. Holes KPU003 and KPU072 are shown in Figure 5 and a photograph of the intersection is shown in Figure 6.
Nord Riche zone tested with holes KPU073 and KPU074
Two holes recently have been drilled into the area where the Série Récurrente zone intersects the Kipushi Fault Zone, historically referred to as the Nord Riche (North Rich) zone. Ivanhoe's holes KPU073 and KPU074 targeted down-plunge extensions of this zone below the level of historical mining. Zones of disseminated and massive sulphides were intersected in both holes, and assay results are pending.
KPU073, drilled at -17 degrees to KPU057, intersected a zone of disseminated sulphide mineralization in dolomite between 69.52 and 91.18 metres with massive chalcopyrite between 69.52 and 69.97 metres, between 70.33 and 72.45 metres and between 89.53 and 91.18 metres.
KPU074, drilled at -30 degrees to KPU057, intersected a zone of mixed massive sulphide (chalcopyrite and sphalerite) and dolomite between 73.77 and 94.00 metres with mixed massive sulphide between 73.77 and 77.15 metres, 79.7 and 81.60 metres, 83.00 and 84.17 metres, 84.80 and 86.40 metres and 91.54 to 94.00 metres.
KPU073 and KPU074 are shown in Figure 7 and a photograph of the KPU074 intersection is shown in Figure 8.
Ivanhoe cautions that the presence of mineralization observed in the three holes - KPU072, KPU073 and KPU074 - is presented to confirm only the presence of mineralization similar in style to that observed in other holes drilled to date both in the Big Zinc and Fault zones. Assays for copper, zinc, lead, germanium and precious metals for these holes are pending.
Ivanhoe now has completed 75 holes, totalling approximately 14,900 metres of its planned 20,000-metre underground diamond drilling program. Assays for holes one through 64 now have been released, while assays for holes 65 through 75 are pending. Two diamond-drill rigs continue to complete exploration and confirmatory drilling of the Big Zinc, Nord Riche and Série Récurrente zones from the hanging-wall drill drift on the 1,272-metre level.
Figure 1 to 8 and Table 1 are available at the following address : http://media3.marketwire.com/docs/150217_IVN_FIGURE_1-8_TABLE-1.pdf