Ivanhoe Mines Discovers New Mineral Zone at Mongolian Project

16 March 2011 (Last Updated March 16th, 2011 18:30)

Ivanhoe Mines has discovered a new zone of shallow copper-molybdenum-gold mineralisation at Ivanhoe Mines-BHP Billiton joint venture licence in southern Mongolia. The new discovery, Ulaan Khud North, about 10km north of the Oyu Tolgoi copper-gold mining complex, extends the strike leng

Ivanhoe Mines has discovered a new zone of shallow copper-molybdenum-gold mineralisation at Ivanhoe Mines-BHP Billiton joint venture licence in southern Mongolia.

The new discovery, Ulaan Khud North, about 10km north of the Oyu Tolgoi copper-gold mining complex, extends the strike length of the Oyu Tolgoi mineralised system to more than 23km.

The new zone of shallow porphyry copper mineralisation has a total of 25 drill holes, totalling 6,561m and ranging in depth from 182m to 377m.

According to the pre-mining agreement with Mongolia Government for Ulaan Khud North property, Ivanhoe and BHP Billiton will conduct additional exploration, complete an environmental impact study, prepare a final feasibility study and gain approval for the design for the project over a three-year period.