Ivanhoe Intersects High-grade Mineralization at Ga-Madiba Target

Ivanhoe Mines Ltd. (TSX:IVN) announced that drilling at its South Africa-based Platreef project has intersected a “thick zone of high-grade mineralization.” The zone is located in a new extension of the Flatreef platinum-palladium-nickel-copper-gold-rhodium discovery.

As quoted in the press release:

Hole UMT400, recently drilled in the Ga-Madiba extension zone on the eastern flank of the Flatreef extension, intersected 48.6 metres that contains 4.63 grams per tonne (g/t) of platinum, palladium and gold (3PE), plus 0.30% nickel and 0.13% copper, at a cut-off of 1.0 g/t of 3PE. The ratio of platinum to palladium is approximately 1 to 1 in the mineralized intercept. Rhodium assays are pending. The vertical intersection has an approximate true thickness of 34.4 metres when adjusted for the dip of the mineralized zone.

The Ga-Madiba zone, covering approximately 3.7 square kilometres, adjoins and stretches to the south from the established area of Inferred Resources, which in turn surrounds the area of Indicated Resources that is at the heart of the Flatreef Discovery — where Ivanhoe is planning to develop an underground mine.

Robert Friedland, executive chairman of Ivanhoe, commented:

The drill results are another highly encouraging development in the history of our discoveries at Platreef, confirming our continuing exploration priority and demonstrating additional promising potential. Significantly, the drilling has established continuity of our open-ended, Flatreef polymetallic discovery, extending its strike length to 6.5 kilometres.

Click here to read the full Ivanhoe Mines (TSX:IVN) press release.