Ivanhoe founder Robert Friedland
Photo by: Bloomberg
TSX-listed Ivanhoe Mines has published independently verified, maiden mineral resource estimates for the high-grade Makoko and Kiala deposits, within the Western Foreland exploration project, in the Democratic Republic of the Congo (DRC).
The Western Foreland exploration licences are located to the north, south and west of Ivanhoe's Kamoa-Kakula copper complex.
The Makoko contains indicated mineral resource of 16-million tonnes at 3.55% copper plus inferred mineral resource of 154-million tonnes at 1.97% copper using a 1.5% copper cut-off, while Kiala contains indicated mineral resource of five-million tonnes at 3.56% copper using a 1.5% copper cut-off.
Ivanhoe says Makoko ranks as the world’s third-largest and highest-grade copper discovery since Kakula in 2016.
“Ivanhoe Mines’ geologists are rarely quiet for long, and these mineral resource estimates for Makoko and Kiala are just the beginning of demonstrating the immense copper mineral potential of the entire Western Foreland basin. Remarkably, this team is now responsible for the largest copper discovery of the last ten years, the ultrahigh-grade giant Kakula discovery, as well as the giant Kamoa discovery and now . . . Makoko.
“We will be looking into whether Makoko’s near-surface mineralised zone is amenable to heap leaching, which if possible, would be both a very low capital intensive, as well as a very low carbon intensive way of producing copper cathode.
“There is much more to come as this story unfolds . . . we continue to perfect our knowledge of the geological controls of this globally significant copper district . . . and we are adding to our carefully chosen land position in the region,” comments Ivanhoe founder and co-chairperson Robert Friedland.
Ivanhoe president Marna Cloete says the company looks forward to advancing the development of Makoko and Kiala in partnership with its Congolese shareholders, as well as to further exploration success from Ivanhoe's major drill campaign this year across the Western Foreland land package.
“Makoko and Kiala will benefit from significant infrastructure advantages compared to when we developed Kakula, which was built in record time. We are working tirelessly to improve hydropower generation capacity in the DRC through the refurbishment of Turbine #5 at the Inga II facility, which is expected to be supplying green hydroelectric power to the grid by the fourth quarter of 2024, as well as ongoing improvements to the grid transmission network.
“The redevelopment of the Lobito rail corridor, built with Chinese assistance and now supported by the US, the European Union and Group of 7 nations, passes within a few kilometres of both the Makoko and Kiala deposits. The corridor will dramatically reduce turnaround times, both for inbound construction materials and equipment, as well as for outbound copper products, and will reduce development and operating costs, as well as carbon emissions," she points out.