HomeMarket NewsMiningNew high-grade copper find in DRC similar to Kakula, Ivanhoe says

New high-grade copper find in DRC similar to Kakula, Ivanhoe says

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Ivanhoe Unveils New High-Grade Discovery as Kitoko Copper Find Mirrors Kakula

In its latest news release, Ivanhoe has announced selected drill results from the Kitoko copper discovery in the Democratic Republic of Congo, with impressive findings that resemble the renowned Kakula orebody. At depths yet to be explored, Kitoko has shown significant high-grade copper mineralization, validating Ivanhoe’s successful exploration model. The company’s extensive expertise, derived from over two decades of intensive geological research, has once again proven its effectiveness in identifying tier-one copper mineralization in the untapped Western Foreland basin.

Glorious Geology Unveiled

The Kitoko discovery, located within Ivanhoe’s expansive 2,654 sq. km land position in the Western Foreland area, is a testament to the company’s ongoing success in making groundbreaking discoveries. Additionally, Makoko and Kiala, two distinct findings adjacent to the Kamoa-Kakula Copper Complex, contribute to Ivanhoe’s remarkable streak of discovering new prospects in this exceptionally endowed geological domain. The high-quality copper mineralization found in Kitoko, similar to other deposits in the region, is hosted in siltstone and features bottom-loaded distribution, with the richest copper grades occurring at the base of the mineralized zone.

Depth and Extent of the Discovery

The data from Ivanhoe indicates that the mineralized zone at Kitoko stretches over 1.9 km with a dip extent of up to 600 meters. Importantly, the mineralization remains open in all directions, with the system estimated to reach depths of between 1,000 and 1,140 meters below the surface. With such promising characteristics, the potential of the Kitoko discovery to significantly contribute to the copper industry cannot be overstated.

Striking Similarity to Kakula

The company’s remarkable journey in the Western Foreland began in 2017, and its relentless pursuit of geological treasures has now borne fruit with the Kitoko discovery. This year alone, Ivanhoe aims to complete 166,000 meters of diamond drilling, including 36,000 meters in 2023. As exploration activities continue, the company is set to define the extent of the mineralization and commence infill resource drilling. The rich geological domain of the region holds substantial promise for further major copper discoveries, and Ivanhoe’s strategic control of extensive exploration land further enhances its prospects in this area.

Market Response and Future Prospects

Following the announcement of the Kitoko discovery, the market has positively responded to Ivanhoe’s potential, with shares rising by 2.3% at the end of Tuesday’s trading session, reaching a market capitalization of C$13.5 billion ($10 billion). This underscores the increasing confidence and anticipation surrounding Ivanhoe’s future endeavors and its potential to further revolutionize the copper mining landscape.

In light of Ivanhoe’s outstanding achievements in uncovering new high-grade copper deposits, the company’s relentless pursuit of geological treasures and its unwavering commitment to transforming the mining industry is indeed awe-inspiring. With the Kitoko discovery aptly mirroring the Kakula orebody, Ivanhoe’s continued success is poised to shape the future landscape of the copper mining industry, making it a remarkably compelling entity in the mining sector.

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