Modern Mining June 2017

MINING News

Ivanhoe updates mineral resource estimate for Kakula copper estimated in October 2016, also at a 3 % cut-off grade.

overall Kamoa-Kakula project. “Kakula alone already has enough resources, grading 6 % copper or higher, to maintain approximately 20 years of min- ing at a rate of six million tonnes per year. We’re also confident that Kakula West has similar potential.” The new Kakula resource estimate cov- ers approximately two thirds of the known strike extent of the high-grade, chalcocite- rich Kakula trend, which is approaching 12 km in length, and remains open along strike in both directions. Kamoa-Kakula geologists now are plan- ning for a resource estimate at the newly discovered Kakula West area, located approximately 3 km west of the new Kakula resource boundary. The Kakula Discovery is approximately 10 kmsouth-west of Kamoa’s initial Kansoko mine development. An aggressive drilling programme has been underway at Kakula since April 2016 and more than 85 000 m of drilling have been completed. 

Robert Friedland, Executive Chairman of TSX-listed Ivanhoe Mines, and Lars-Eric Johansson, CEO, have announced that the company has completed an independently verified, updated mineral resource esti- mate for the extremely high-grade Kakula Discovery on the tier one Kamoa-Kakula copper project. Located near the mining centre of Kolwezi in the DRC’s Katanga Province, the Kamoa-Kakula project is a joint venture between Ivanhoe Mines, Zijin Mining and the Government of the DRC. The new mineral resource estimate covers a strike length of approximately 7,7 km along the eastern section of the Kakula Discovery. It boosts the tonnage of Kakula’s estimated indicated resources by 75 % compared to the October 2016 resource estimate – which covered a strike length of 4,1 km. Kakula’s indicated resources have increased by 50 Mt, to the current total of 116 Mt at 6,09 % copper, at a 3 % cut-off grade. This compares to 66 Mt at 6,59 %

Kakula’s new estimated inferred resources are an additional 12 Mt at 4,45 % copper, at a 3 % cut-off. “With 12 rigs currently drilling at Kakula and Kakula West and another two rigs about to begin testing important new targets in the licence area, Kakula is an international story of discovery that has earned the mining world’s attention,” said Friedland. “To keep the mine-planning process driving forward, we need to pro- vide the mining engineers with updated resource numbers for the expanded-case preliminary economic assessment due to be issued in the third quarter.” Johansson said that the copper grades at Kakula are significantly higher than the average grades found at the adjacent, earlier Kamoa Discovery. “We’re highly confident that fast-tracking mine devel- opment at Kakula will have a profound, positive impact on the economics of the

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