Ivanhoe Electric Confirms East Ridge Discovery at Santa Cruz Copper Project in Arizona East Ridge Exploration Area Typhoon™ Anomaly to be Explored Further High-Grade Copper Assays Received from Infill Drilling at Santa Cruz Deposit Area
November 8, 2022
Ivanhoe Electric Confirms East Ridge Discovery at Santa Cruz
Copper Project in Arizona
East Ridge Exploration Area Typhoon™ Anomaly to be
Explored Further
High-Grade Copper Assays Received from Infill Drilling at Santa
Cruz Deposit Area
Santa Cruz Infill Drill Hole SCC-084 Intersects 314 Meters Grading
1.06% Copper, Including 144 Meters of 1.38% Copper, 76 Meters of
1.86% Copper and 14 Meters at 2.41% Copper
NEW YORK, NEW YORK – Ivanhoe Electric (NYSE American: IE; TSX: IE) Chairman and
Chief Executive Officer Robert Friedland is pleased to announce the discovery of the
East Ridge oxide copper zone at the Santa Cruz Copper Project, located west of Casa
Grande, Arizona. These exploration results have demonstrated the effectiveness of
Ivanhoe Electric’s proprietary Typhoon™ surveying system for identifying hidden
copper deposits in the American Southwest. In addition, we are beginning to receive
high-grade copper assay results from the extensive drilling campaign in the Santa Cruz
Deposit area. These results will be incorporated into the updated Mineral Resource
Estimate for the Santa Cruz Project expected in January 2023.
Mr. Friedland commented: “The discovery of copper mineralization at East Ridge is
exciting in that it appears to be open for expansion in all directions. This area, identified
by our Typhoon™ surveying system, and backed by detailed geological analysis, has
proven the effectiveness of our ability to discover new copper deposits in areas hidden
under gravel cover within the Basin and Range Province of the Western United States.”
“In addition, the results from our drill campaign at Santa Cruz have confirmed the
spectacular grade of the known Santa Cruz Deposit. With the steady pace of new
information being received from our work at Santa Cruz, we are increasing our
understanding of this enriched copper deposit. Using our Typhoon™ technology, and
now with the knowledge of the Santa Cruz ‘fingerprint’, we are encouraged by the
prospect of additional copper discoveries in the area.”
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Graham Boyd, Vice President of U.S. Projects, commented: “Drilling at East Ridge has
returned impressive oxide copper mineralization in our first step-out exploration holes.
In particular, hole SCC-105 has returned strong visual results, intersecting over 100
meters of consistent copper oxides. Further, at the Santa Cruz Deposit area, the assays
received for infill hole SCC-084 have demonstrated a broad zone of soluble oxide
copper in exotic, oxide and chalcocite mineralization. These results suggest that we
have only begun to uncover the potential of this district.”
360-degree photogrammetry video of drill core from drill hole SCC-084 at 742.90
meters depth showing Oracle Granite with chrysocolla (a leachable mineral that
is approximately 30% copper by weight) and atacamite (a leachable mineral
approximately 60% copper by weight) mineralization in fractures.
Click on the image below for the high-resolution video.
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360-degree photogrammetry video of drill core from drill hole SCC-105 at 582.90
meters depth showing Oracle Granite with chrysocolla (a leachable mineral that
is approximately 30% copper by weight) and chalcanthite (a leachable mineral
that is approximately 25% copper by weight) mineralization.
Click on the image below for the high-resolution video.
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360-degree photogrammetry video of drill core from drill hole SCC-105 at 581.80
meters depth showing Oracle Granite with bright blue chrysocolla (a leachable
mineral that is approximately 30% copper by weight) mineralization.
Click on the image below for the high-resolution video.
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Atacamite is a deep green, leachable copper-chloride mineral which is 60% copper by
weight. Chrysocolla is a bright blue, leachable copper oxide mineral which is
approximately 30% copper by weight. Chalcanthite is a dark blue, leachable copper-
sulfate mineral which is approximately 25% copper by weight. These leachable
minerals are amenable to a solvent extraction/electrowinning (“SX/EW”) process
allowing for direct copper cathode production.
Core sample from East Ridge drill hole SCC-105 at 559.8 meters depth showing
Oracle Granite with spectacular chrysocolla (blue), atacamite (green) and bright
bands of hematite (an iron oxide mineral, red) mineralization.
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Core sample from East Ridge drill hole SCC-105 at 583.2 meters depth showing
Oracle Granite with extraordinary chrysocolla (blue) and atacamite (green)
mineralization throughout the sample.
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Sarah Bala, Geologist, logging drill chips produced by reverse circulation
exploration drilling at Santa Cruz
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Santa Cruz Copper Project map with drill holes, exploration areas and section
location