TSX-listed Ivanhoe Mines has completed its independently verified and updated mineral resource estimate for the Kamoa-Kakula copper project, in the Democratic Republic of Congo (DRC).
The Kamoa deposit is one of two large, near-surface, flat-lying, stratiform copper deposits discovered to date on the 400 km2 Kamoa-Kakula mining licence.
The other major deposit, Kakula, is being fast-tracked to commercial production, with the initial 3.8-million-tonne-a-year mining operation scheduled to produce first concentrate in the third quarter of 2021.
The new mineral resource estimate is the culmination of an infill drilling programme designed to better define higher-grade copper zones within the existing Kamoa deposit.
At a 1% cut-off, Kamoa’s indicated mineral resources now totals 760-million tonnes, grading 2.73% copper and containing 45.8-billion pounds of copper.
At the same 1% cut-off, Kamoa’s inferred mineral resources now total 235-million tonnes, grading 1.70% copper and containing 8.8-billion pounds of copper.
At a 3% cut-off, the new mineral resource estimate boosts the Kamoa deposit’s indicated mineral resource tonnages by 15% and contained copper by 15.5%, to a total of 256.8-million tonnes, at a grade of 4.15% copper.
At the same 3% cut-off, Kamoa’s inferred mineral resources now total 13-million tonnes, at a grade of 3.51% copper.
“The delineation of indicated mineral resources at the North Bonanza zone and the Far North zone continues the long history of exploration success at Kamoa-Kakula,” Ivanhoe Mines resources VP George Gilchrist commented.
He added that the miner “sees excellent opportunity” to add further shallow, higher-grade copper resources in the northern portion of the mining licence in the general vicinity of the Bonanza zone and the Far North zone, as well as on the adjoining Western Foreland exploration licences, which should allow Ivanhoe to further unlock the exciting potential of this resource area.
There has been no change to the mineral reserve estimate at Kamoa-Kakula.
The Kamoa-Kakula copper project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global (0.8%) and the DRC government (20%).