IVANHOE MINES believes the three mineralized zones on its Turquoise Hill (Oyu Tolgoi) property in Mongolia are only a small part of a major mineralized system. That has led chairman Robert Friedland and executive VP Douglas Kirwin to announce that the gold and copper discovery is more important than previously thought. The news was based on results of a recent IP surface survey indicating that there is a common controlling geological feature linking all three zones.
The survey was conducted last November and December on a block measuring 2.5 km by 5 km over the Southwest, Central and Far North zones. It was run on a 100-m east-west grid; an earlier IP survey has been conducted along north-south lines. According to Ivanhoe's press release, "The linearity of the newly identified anomaly implies significant structural control on the mineralization at Turquoise Hill."
The Far North zone has been the target of nine new step-out holes. It is now known to be about 1,000 m long by 400 m wide down-dip and 250-350 m thick. Drilling has returned assays as high as 3.43% Cu and 0.40 g/t Au. The zone is open in all directions.
Ivanhoe recently closed a $60-million private placement to finance definition drilling in Mongolia and on-going exploration elsewhere in Asia.
The latest IP survey and assay results for the Turquoise Hill project can be viewed at www.ivanhoe-mines.com