Ivanhoe intersects high-grade mineralisation at Ga-Madiba, South Africa

19 March 2014 (Last Updated March 19th, 2014 18:30)

Ivanhoe Mines has intersected 48.6m of high-grade platinum group metals at its Ga-Madiba target.

Mining

Ivanhoe Mines has intersected 48.6m of high-grade platinum group metals at its Ga-Madiba target.

The company said the area has now become a new extension of the Flatreef platinum, palladium, nickel, copper, gold and rhodium discovery at its Platreef project on the northern limb of the Bushveld complex in South Africa.

Drill hole UMT400 intersected 48.6m that showed 4.63g per tonne of platinum, palladium and gold (3PE), and 0.30% nickel and 0.13% copper at a cut-off of 1g per tonne of 3PE.

Ivanhoe Mines said the Ga-Madiba zone covers about 3.7km² and stretches to the south from the established area of Canadian National Instrument 43-101-compliant inferred resources. These, in turn, surround the area of indicated resources that lay at the Flatreef discovery, where Ivanhoe is planning to develop an underground mine.

"The drill results are another highly encouraging development of the company's discoveries at Platreef."

Another new drill hole in the Ga-Madiba zone, UMT409, collared 818m south of UMT400, also intersected substantial mineralisation on a portion of the Flatreef.

Ivanhoe Mines executive chairman Robert Friedland said the drill results are another highly encouraging development of the company's discoveries at Platreef.

"Significantly, the drilling has established continuity of our open-ended, Flatreef polymetallic discovery, extending its strike length to 6.5km," Friedland said.

A total of 15 parent drill holes have been completed on about 400m of drill centres in the Ga-Madiba area.

Ivanhoe plans to prepare an initial inferred resource estimate for the Ga-Madiba area after completing an additional ten holes from the planned exploration programme.


Image: Box-cut excavation in preparation for sinking of bulk-sample shaft at Platreef project. Photo: courtesy of Ivanhoe Mines.

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