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Ivanhoe Mines – Kamoa copper deposit, DRC – September 2013

On 28 September 2013 Neil Adshead visited Ivanhoe Mines’ very large, stratiform, sediment-hosted ‘Kamoa’ copper resource ~25 km west of the established copper and cobalt mining and processing center of Kolwezi, Katanga Province, DRC.  Ivanhoe owns 95% of Kamoa and the 5% partner, who can acquire another 15% on commercial terms, is the DRC government.  Ivanhoe made the Tier One Kamoa discovery with diamond drill hole #1 roughly five years ago and through step-out drilling it has quickly grown into one of the largest, and highest grade, undeveloped copper projects in the world.  The current Indicated resource estimate, at 2% copper cut-off, is 550 Mt at 3.04% copper, which equates to 36.9 billion pounds (16.7 million tonnes) of contained copper.  Kamoa is a Tier One deposit because it has size, grade, mine life and development flexibility.  Ivanhoe is currently updating a Preliminary Economic Assessment and conducting further metallurgical test work.  Mining permits have been granted. 




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