Press release dated January 16, 2008
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
From: January 16, 2008
IVANHOE MINES LTD.
(Translation of Registrants Name into English)
Suite 654
999 CANADA PLACE, VANCOUVER, BRITISH COLUMBIA V6C 3E1
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.)
|
|
|
Form 20-F- o
|
|
Form 40-F- o |
(Indicate by check mark whether the registrant by furnishing the information contained in this form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.)
(If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82- .)
Enclosed:
Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
IVANHOE MINES LTD.
|
|
Date: January 16, 2008 |
By: |
/s/ Beverly A. Bartlett
|
|
|
|
BEVERLY A. BARTLETT |
|
|
|
Vice President &
Corporate Secretary |
|
|
|
|
|
|
|
January 16, 2008 |
IVANHOE MINES REPORTS ADDITIONAL DRILLING RESULTS
EXTENDING HERUGA COPPER, GOLD AND MOLYBDENUM
DISCOVERY IN MONGOLIA
ULAANBAATAR, MONGOLIA John Macken, President and CEO of Ivanhoe Mines Ltd., and Charles
Forster, Ivanhoes Senior Vice President of Exploration, Mongolia, today announced additional
drilling results on the Heruga copper, gold and molybdenum deposit in southern Mongolia. The Heruga
Deposit is on Entrée Golds Javkhlant license, which adjoins the southern boundary of Ivanhoe
Mines Oyu Tolgoi copper and gold development project. The Javkhlant license is part of the
Entrée-Ivanhoe Mines joint-venture agreement area.
A total of 32 drill holes (including daughter holes) on nine sections spaced at 150-to 300-metre
intervals along a 1,600-metre strike length of the Heruga discovery now have been completed, or are
in progress. Significant copper, gold and molybdenum mineralization has been intersected in new
drill holes on six sections extending along 1,600 metres of strike length. Five rigs are drilling
on the Heruga Deposit.
Results from eight additional holes are summarized in Table 1. Hole collar locations are shown on
a map to be posted on Ivanhoes website at www.ivanhoemines.com. Previous results from Heruga were
reported in news releases dated October 3 and October 9, 2007.
The recent drill holes have confirmed the presence of Oyu Tolgoi-style mineralization at Heruga,
provided continuity of the mineralization between drill sections and confirmed that the
mineralization remains open to the east and north. Combined with the mineralization discovered to
the north of Oyu Tolgoi, this mineralized structural trend now has been traced for more than 20
kilometres.
Discussion and Highlights of Recent Drilling
A total of 27 drill holes have been completed to date with five more currently in progress. These
have provided Entrée and Ivanhoe Mines with additional information about the structure and controls
of the mineralization at Heruga. The most recent drilling has continued to define a block of
copper-gold-molybdenum mineralization with an approximate strike length of up to 1,600 metres from
4757800N to 4759400N, starting at a vertical depth of approximately 600 metres below surface with a
vertical thickness of approximately 400 to 800 metres, and a width of 200 to 300 metres. Current
drilling is focused on adding to mineralization on the northern end and the eastern side of the
deposit. At the south end of the deposit, EJD0019 and EJD0019A did not intersect significant
mineralization and the mineralized zone is apparently cut-off by an east-west trending fault to the
south of the EJD0022 section. Hole EJD001A deepened the earlier hole, EJD001, which had been
terminated at a depth of 1138 metres. Hole EJD001A intersected over 400 metres of gold-rich
mineralization, supporting the theory that the mineralized zone deepens and plunges to the north
below the depth of previous drilling. Drilling of EJD008A is currently in progress to test deeper
and to the east on this section line.
The most recent results support the working theory that gold-rich copper mineralization is capped
by a molybdenum-rich shell. The deposit has been cut longitudinally by a north northeast trending
fault, locally referred to as the Bor Tolgoi Fault, which down drops the mineralization along its
western side. The Southern half of the deposit lies mostly on the east side of the Bor Tolgoi
while the northern half of the deposit lies to the west with barren quartz monzodiorite now defined
to the east of the fault in this northern sector. Two rigs are drilling to delineate the gold-rich
zone between EJD0020A and EJD0001A and one rig is drilling 200 metres north of EJD0001A to extend
the zone to the north. On the southern half of the deposit, EJD0024 is infill drilling to extend
the gold-rich mineralization deeper while EJD00026 is drilling 400 metres east of EJD0023 to extend
the eastern limit of the molybdenum, gold-rich quartz monzodiorite intersected in EJD0013B and
EJD0023.
The Oyu Tolgoi structural trend, as currently defined, now has a total strike length in excess of
20 kilometres, encompassing Oyu Tolgoi in the centre and extensions onto the joint Entrée/Ivanhoe
agreement area to the south and north. From the Heruga Deposit in the south, the trend now extends
through the Oyu Tolgoi deposits to the lower grade Ulaan Khud or Airport North Zone, located
approximately 10 kilometres north-northeast of the Hugo Dummett Deposit.
Table 1. Selected mineralized intervals from the Heruga Deposit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Down-hole depth |
|
Interval |
|
|
Cu |
|
|
Au |
|
|
Mo |
|
|
Cu Eq* |
|
from-to m |
|
m |
|
|
% |
|
|
g/t |
|
|
ppm |
|
|
% |
|
Hole EJD0001A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1174 - 1602 |
|
|
430 |
|
|
|
0.42 |
|
|
|
0.75 |
|
|
|
117 |
|
|
|
1.00 |
|
Incl. 1442 - 1604 |
|
|
162 |
|
|
|
0.42 |
|
|
|
1.41 |
|
|
|
7 |
|
|
|
1.32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0013B |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
602 - 608 |
|
|
6 |
|
|
|
0.93 |
|
|
|
0.05 |
|
|
|
420 |
|
|
|
1.32 |
|
716 - 790 |
|
|
74 |
|
|
|
0.70 |
|
|
|
0.28 |
|
|
|
281 |
|
|
|
1.12 |
|
966 - 1254 |
|
|
288 |
|
|
|
0.43 |
|
|
|
0.89 |
|
|
|
120 |
|
|
|
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0015A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
726 - 1444 |
|
|
718 |
|
|
|
0.32 |
|
|
|
0.28 |
|
|
|
85 |
|
|
|
0.58 |
|
Incl 1310 - 1436 |
|
|
126 |
|
|
|
0.42 |
|
|
|
0.50 |
|
|
|
98 |
|
|
|
0.83 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0017A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
740 - 1338 |
|
|
598 |
|
|
|
0.62 |
|
|
|
0.60 |
|
|
|
173 |
|
|
|
1.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0020A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1422 - 1460 |
|
|
38 |
|
|
|
0.43 |
|
|
|
1.45 |
|
|
|
19 |
|
|
|
1.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1000 - 1294 |
|
|
294 |
|
|
|
0.36 |
|
|
|
0.68 |
|
|
|
41 |
|
|
|
0.83 |
|
1534 - 1670 |
|
|
136 |
|
|
|
0.57 |
|
|
|
1.00 |
|
|
|
69 |
|
|
|
1.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1200 - 1294 |
|
|
94 |
|
|
|
0.78 |
|
|
|
0.61 |
|
|
|
125 |
|
|
|
1.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hole EJD0023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1110 - 1216 |
|
|
106 |
|
|
|
0.35 |
|
|
|
0.97 |
|
|
|
22 |
|
|
|
0.98 |
|
1302 - 1328 |
|
|
26 |
|
|
|
0.24 |
|
|
|
1.92 |
|
|
|
28 |
|
|
|
1.48 |
|
1500 - 1646 |
|
pending |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Copper Equivalent estimated using $1.15/lb copper, $500/oz gold and $10/lb molybdenum, without
regard to recoveries. |
2
Drill maps from the Heruga Deposit will be posted to Ivanhoes website at www.ivanhoemines.com and
to Entrées web site at www.entreegold.com.
Quality Assurance and Quality Control
Charles Forster, P.Geo., Ivanhoe Mines Senior Vice President of Exploration, Mongolia, Stephen
Torr, P. Geo., Ivanhoe Mines Chief Resource Geologist, and Robert Cann, P.Geo., Entrées
Vice-President, Exploration, all qualified persons as defined by NI 43-101, supervised the
preparation of the information in this release.
SGS Mongolia LLC prepares the split core at the project site and assays all samples at its facility
in Ulaanbaatar, Mongolia. Ivanhoes QA/QC program is monitored by independent consultant Dr. Barry
Smee, P.Geo., and managed on site by Dale Sketchley, M.Sc., P.Geo. In-house, matrix-matched
copper-gold-molybdenum standards and blanks are inserted at the sample preparation lab on the
project site to monitor the quality control of the assay data.
Ivanhoe Mines currently has a 51% participating interest in the Ivanhoe- Entrée joint venture,
which covers approximately 40,000 hectares of Entrées 100%-owned Shivee Tolgoi Property (which
includes the Javkhlant license), adjacent to Ivanhoes Oyu Tolgoi Property. Ivanhoe earned the 51%
interest by completing more than US$20 million of aggregate earn-in expenditures on the
joint-venture properties to date. Ivanhoe intends to continue incurring earn-in expenditures in
accordance with the terms of the joint-venture agreement with a view to increasing its
participating interest in the project. Subject to Ivanhoe spending a total of US$35 million on
exploration and/or development on the joint-venture properties prior to November 2012, Ivanhoe will
earn:
|
|
a 80% participating interest in all minerals extracted below a sub-surface
depth of 560 metres on the optioned property; and |
|
|
a 70% participating interest in all minerals extracted from surface to a depth
of 560 metres. |
Ivanhoe also owns approximately 15% of the outstanding shares of Entrée Gold (TSX:ETG; AMEX:EGI).
Ivanhoes strategic partner in the development of the Oyu Tolgoi Project, Rio Tinto, owns
approximately 16% of the outstanding shares of Entrée Gold.
Ivanhoe Mines shares are listed on the Toronto, New York and NASDAQ stock exchanges under the
symbol IVN.
Information contacts
Ivanhoe Mines Investors Relations: Bill Trenaman; Media: Bob Williamson +1.604.688.5755
Forward-Looking Statements This news release contains forward-looking statements.
Forward-looking statements are statements which relate to future events such as Ivanhoes intent to
continue incurring earn-in expenditures on the Heruga Deposit in accordance with the terms of the
joint-venture agreement. In some cases, you can identify forward-looking statements by terminology
such as may, should, expects, plans, anticipates, believes, estimates, predicts,
potential or continue or the negative of these terms or other comparable terminology. These
statements are only predictions and involve known and unknown risks, uncertainties and other
factors that may cause our or our industrys actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. While these forward-looking
statements, and any assumptions upon which they are based, are made in good faith and reflect our
current judgment regarding the direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections, assumptions or other future
performance suggested herein. Readers are referred to the sections entitled Risk Factors in
Ivanhoe Mines periodic filings with Canadian and US Securities Commissions.
3