SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 2022
IVANHOE ELECTRIC INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation
or organization)
001-41436
(Commission File Number)
32-0633823
(I.R.S. Employer
Identification No.)
606 – 999 Canada Place
Vancouver, BC Canada
(Address of principal executive offices)
V6C 3E1
(Zip Code)
Registrant’s telephone number, including area code: (604) 689-8765
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.0001 per share IE NYSE American and Toronto Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01. Regulation FD Disclosure.
On July 28, 2022, Ivanhoe Electric Inc. (the “Company”) issued a press release with respect to its Santa Cruz project in Arizona. A copy of the
Company’s press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein in its entirety.
The information in Item 7.01 of this Current Report on Form 8- K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be, or be deemed,
incorporated by reference in any filings under the Securities Act of 1933, as amended (the “Securities Act”), regardless of any general incorporation
language in any such filing or document, unless the Company specifically states that the information is to be considered “filed” under the Exchange Act or
incorporates it by reference into a filing under the Securities Act or the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated July 28, 2022
104 Cover Page Interactive Data File (embedded with the inline XBRL document)
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 hereunto duly authorized.
IVANHOE ELECTRIC INC.
Date: July 28, 2022 By: /s/ Catherine Barone
Catherine Barone
Interim Chief Financial Officer
Exhibit 99.1
July 28, 2022
Ivanhoe Electric updates activities at its flagship Santa Cruz Project in Arizona
Santa Cruz is the second-largest undeveloped copper deposit in the Lower 48 States, the largest leachable deposit and the largest on private land
85,000-meter program of resource in-fill, geotechnical, hydrological and metallurgical drilling well underway on the Santa Cruz deposit
Seven drill rigs now active
Proprietary Typhoon™ geophysical survey completed to identify deposit extensions and new zones of mineralization
Ivanhoe Electric’s vision is for a green, low-impact, solar powered underground mine
NEW YORK, NEW YORK – Ivanhoe Electric (NYSE American: IE; TSX: IE) Chairman and Chief Executive Officer Robert Friedland and
President Eric Finlayson are pleased to provide an update on its flagship Santa Cruz Copper Project in Arizona.
Ivanhoe Electric acquired the Santa Cruz Project in mid-2021 after several years of negotiation. Copper mineralization on the property was
originally discovered over 50 years ago, with the Santa Cruz, Texaco and Park Salyer high-grade copper deposits identified beneath gravel cover.
A validation drill program completed in late 2021 on the Santa Cruz deposit allowed calculation and disclosure of a current mineral resource
estimate in accordance with S-K 1300 and NI 43-101. With seven drill rigs currently active on the deposit, an 85,000-meter program of resource in-
fill, geotechnical, hydrological and metallurgical drilling is now well underway to assess options for underground mine development. These deposits
remain open for further expansion. A significant proportion of the copper occurs as readily leachable secondary copper minerals.
Mr. Friedland commented: “Ivanhoe Electric’s vision is for a green, low-impact, underground mine with minimal surface expression, powered by
solar energy and with vanadium-redox battery storage provided by Ivanhoe Electric’s 90%-owned private subsidiary, VRB Energy. Apart from
producing ultra-low emissions copper that will contribute to American supply chain independence, we also can see opportunities for a multi-use
project hosting other commercial and industrial activity together with renewable power generation opportunities.
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“While the Santa Cruz deposit is already the second-largest undeveloped copper deposit in the Lower 48, we believe that there is significant
potential to expand the deposit, to add new resources at Texaco and Park Salyer, and to identify new zones of mineralization.
“Very recently, we completed a proprietary Typhoon™ deep-penetration induced polarization and resistivity survey over a 26.5 km2 (6,500-acre)
area to identify extensions to known deposits and new zones of mineralization. Data processing is underway by Ivanhoe Electric’s 94%-owned
private subsidiary Computational Geosciences of Vancouver, Canada, and results will be announced when available. Extensive exploration drilling
will test the anomalies identified by Typhoon™.
“Ivanhoe Electric has the opportunity to re-invent American mining with green, clean copper production from a world-scale deposit, located in the
heart of Arizona, the Copper State.”
Located in the heart of the Copper State
The Santa Cruz Copper Project is in the prolific copper mining state of Arizona, approximately one-hour’s drive south of Phoenix, 11 km west of
the city of Casa Grande, and in proximity to numerous major copper mines. Arizona has produced approximately 10% of all copper ever mined
and is rated within the top-five best mining jurisdictions in the world according to the Fraser Institute. Since 1980, Arizona has produced more than
35 million tonnes of copper, which is approximately 65% of total United States copper production.
The Santa Cruz Project is located within a mineral deposit corridor running between the Ajo and Globe Miami copper mines. This is a fundamental
geological feature, which is estimated to control approximately 35% of all known copper resources in Arizona.
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Well-established infrastructure and industry in proximity to the Santa Cruz Project.
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Project site is flat Sonoran Desert that has been previously impacted by agricultural and other land-use activities.
Three identified copper mineralized zones located on private land
Ivanhoe Electric’s Santa Cruz Project covers 78 km2 (19,300 acres), including 28 km2 (6,900 acres) of private land, 31 km2 (7,700 acres) of Arizona
State Mineral Exploration permits, and 238 unpatented claims over 19 km2.
Copper mineralization at the Santa Cruz Project was originally identified more than 50 years ago after reports of copper minerals from
agricultural water wells. Following a staking rush involving several different major mining companies, the Santa Cruz, Texaco and Park Salyer
deposits were discovered concealed beneath gravel cover, but were not closed-off by drilling. All three deposits lie on private land.
While the largest of the three bodies of mineralization is the Santa Cruz deposit, the three deposits may originally have been part of one or more
Laramide-age porphyry copper systems subsequently dismembered by Basin-and-Range extensional faulting.