Ivanhoe Mines announces the KITOKO sedimentary copper discovery in Western Foreland, Democratic Republic of Congo
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November 28, 2023
Ivanhoe Mines announces the KITOKO sedimentary copper
discovery in Western Foreland, Democratic Republic of Congo
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Kitoko discovery includes drill hole DD008 intersecting 5.19
metres true width, grading 11.64% copper, at a 1% copper cut-off
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Kitoko is Ivanhoe’s fifth high-grade sedimentary copper discovery
in the DRC
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Mineralogical characteristics of Kitoko are most similar to those
of the tier-one Kakula copper orebody
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Discovery zone traced over a 1.9-kilometre strike and open in all
directions
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Expanded drilling program continues around Kitoko and other
Western Foreland targets
KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO — Ivanhoe Mines (TSX: IVN; OTCQX:
IVPAF) Founder and Executive Co-Chair Robert Friedland and President Marna Cloete
are excited to announce today that the company has made a significant high-grade
copper discovery on recently acquired joint venture licences in the Western Foreland,
west of the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC).
Ivanhoe Mines’ geological team have aptly named the discovery KITOKO, which means
“beautiful” or “gift” in several local languages in the DRC.
The Kitoko discovery confirms the presence of a significant high-grade copper
mineralizing system between 1,000 meters and 1,140 metres below the surface. Kitoko
fine-grained copper mineralization is hosted in near flat-lying siltstone of the lower
Grand Conglomerate, like that observed at the tier-one Kamoa, Kakula, Makoko and
Kiala deposits. Also, like these deposits, the Kitoko mineralization is bottom-loaded
with the highest copper grades occurring at the base of the mineralized zone. As
mineralization occurs at the Kakula orebody, the lower section of the mineralized zone
features occurrences of high-grade chalcocite and bornite copper sulphide minerals,
with chalcopyrite copper sulphide mineralization more prevalent towards the top (see
Figure 3). The currently defined mineralized zone is trending southwest over 1.9
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kilometres of strike, with a dip extent of between 600 meters and mineralization remains
open in all directions (See Figure 4).
The Kitoko discovery is approximately 25 kilometres west of the ultra-high-grade Kakula
Mine, and five kilometres south and southeast of the Makoko deposit and is located
inside a package of newly acquired joint venture licences in the Western Foreland. The
new package of licences increases Ivanhoe’s highly prospective Western Foreland land
position by 10% to 2,654 square kilometres.
Under the terms of the joint venture that covers the 247 square kilometres of newly
acquired licences, Ivanhoe has an initial interest of 10% with an earn-in right to increase
its ownership by funding ongoing exploration activities. Ivanhoe expects to make
further exploration spending commitments in 2024, to increase Ivanhoe’s interest to
60%.
Selected drill holes at the Kitoko Copper Discovery include:
• DD003 (the Kitoko discovery hole) intersected 3.37 metres (true width) of 3.54%
copper, at a 1.0% copper cut-off, from a downhole depth of 1,077 metres.
• DD004 intersected 6.43 metres (true width) of 4.92% copper, at a 1.0% copper cut-
off, from a downhole depth of 1,071 metres.
• DD006 intersected 4.18 metres (true width) of 3.60% copper, at a 1.0% copper cut-
off, from a downhole depth of 1,065 metres.
• DD007 intersected 6.79 metres (true width) of 3.35% copper at a 1.0% copper cut-
off, from a downhole depth of 1,089 metres.
• DD008 intersected two separate high-grade mineralized zones: 3.09 metres (true
width) of 3.67% copper from a downhole depth of 1,118 metres, and a higher
grade zone of 5.19 metres (true width) of 11.64% copper from a downhole depth
of 1,135 metres, at a 1.0% copper cut-off.
Ivanhoe Founder and Executive Co-Chair Robert Friedland commented:
“Ivanhoe's latest high-grade discovery of Kitoko confirms the effectiveness of our
exploration model for identifying tier-one copper mineralization across the Western
Foreland. Our proprietary knowledge is the result of over 20 years of in-depth
geological research in this previously unexplored terrain.
“This year's drilling success proves that our geological team has the ability to unearth
further major copper discoveries across the Western Foreland. We are fortunate to
control such a large exploration land package with tier-one potential, in the identical
geological domain as the Kamoa-Kakula Copper Complex, the world's greenest and
fastest-growing major copper mining complex.
“Our geologists are excited to find very high-grade copper very similar to the massive
tier-one Kakula orebody, now discovered in the deeper parts of the Western Foreland
basin that remains completely unexplored. When combined with the recent Mineral
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Resources at the nearby Makoko and Kiala deposits, the Kitoko discovery marks a
turning point for our strategy in the Western Foreland. We are excited to explore
options for near-term, high-grade copper production across our majority-owned
licenses.
“Importantly, the Lobito Rail Corridor to the nearest coastal port in Angola runs across
this emerging world-class copper district... The railway and port will provide strategic
advantages in terms of inbound and outbound transport and lower carbon emissions. In
fact, the Lobito Corridor will dramatically improve the economics of the entire DRC
mining industry, which is powered primarily by hydroelectricity. The Lobito Corridor will
lower mining cut-off grades and increase the amount of economically recoverable
copper that our world desperately needs from the Western Foreland… and exploration
properties in both Angola and the DRC will become far more attractive due to the very
existence of the Lobito Corridor.
“The government of the Democratic Republic of Congo strongly encourages exploration
efforts, and Ivanhoe’s team are proud to lead the way. Ivanhoe’s talented and dedicated
people possess sophisticated exploration technologies and invaluable intellectual
property, together with a global track record of success. We are committed to unlocking
the full potential of the DRC’s endowment and we envision world-leading and ultra-
green copper production across the Copperbelt for generations to come.”
Figure 1. Diamond core from hole DKTK_DD008 at Kitoko, showing two zones of
high-grade mineralization. The lower zone returned 5.19 metres true width at a
grade of 11.6% copper, at a 1% copper cut-off. The upper zone also returned
significant grades of copper mineralization.
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Table 1 (below) contains a complete list of assay results for the drill holes completed to
date at Kitoko, at both a 1% and 2% copper cut-off. For drill holes DD005 to DD011,
independent assays are pending; only “Niton” X-ray fluorescent (XRF) results are
currently available. The reader is cautioned that Niton XRF readings are not the same as
laboratory assays and are not an estimate of resource grades disclosed in accordance
with NI 43-101. However, based on more than 2,000 holes drilled to date at the
neighbouring Kamoa-Kakula Copper Complex, as well as on the Western Foreland
Exploration Project, a high degree of correlation between Niton XRF readings and assay
results is evident. The company is confident that these data readings are highly useful
in confirming and shaping the next stage of the exploration drilling program pending
final assay results.
Figure 2. (L-R) Comparison of drill core from the Kakula orebody, alongside drill
core from the Kitoko discovery. The Kitoko core displays many similar
mineralization characteristics to Kakula core.
Extensive exploration history and experience in Ivanhoe’s Western
Foreland fundamental to discovery
Ivanhoe began exploration activities on the extensive Western Foreland land position in
July 2017. Initially, activities were focused on the construction of all-season access
roads, bridges and the development of new camp facilities. In parallel, Ivanhoe
undertook airborne and ground-based geophysical surveys and revisited previously
acquired geophysical and geochemical data sets. Targets, and subsequent discoveries,
were identified first based on analysis of geological models from the airborne and
ground geophysics, as well as surface and sub-surface geochemical sampling, and
Drill core from the
tier-one, high-grade
Kakula orebody Drill core from
the Kitoko copper
discovery
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ultimately confirmed by diamond drilling. By year-end 2023, the company expects to
have completed more than 166,000 metres of diamond drilling since 2017, including
36,000 metres completed year-to-date.
The newly discovered high-grade mineralization at Kitoko is associated with siltstone
and inter-banded gritty layers of sandstone, formed in periods of relatively low
sediment input into the basin, within a large package of Grand Conglomerate diamictite.
The siltstones contain early pyrite that reacted with ore fluids to deposit copper.
Multiple packages, or layers, of pyritic siltstones, have been identified and are
exploration targets when they occur in prospective basin locations.
The Kitoko discovery is hosted in the Grand Conglomerate overlaying the Kibaran
basement directly, whereas the Kakula, Kamoa, Makoko and Kiala deposits occur where
the Grand Conglomerate is underlain by Mwasha sandstones. This highlights the
potential for copper mineralization across a variety of underlying aquifer conditions and
therefore increases the proportion of the Western Foreland that is prospective for high-
grade mineralization.
Figure 3: Strip logs showing the mineralization and lithological host of the Kitoko
discovery. The two holes are in separate sections 1,400 metres apart.
Note: Ng1.1.1 is the lowest stratigraphic package of the Grand Conglomerate, and KB is the Kibaran basement.
Like the Kamoa and Kakula deposits, copper mineralization at Kitoko is hosted in the
lowest reductant sedimentary layer. The deposition of copper mineralization occurs in
basins where the circulating copper-bearing fluids are focused into sub-basins and
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shelf edges. Ivanhoe’s 80-to-100%-owned exploration licences, plus the new joint
venture licence package, cover approximately 175 kilometres of prospective strike
length for this style of mineralization.
Drilling is continuing at Kitoko to define the limits of mineralization, which remains
open in all directions. When the extent of the mineralized system has been confirmed,
infill resource drilling will begin. All-weather access roads have been constructed to
enable operations to continue throughout the DRC rainy season, which typically runs
from November through April. In conjunction with the drilling, detailed mineralogical
studies on associated alteration have begun to complement the existing geological
understanding.
Exploration will continue to test other high-value exploration targets in conjunction with
the continued drilling of Kitoko in 2024 and beyond.
Kitoko discovery further advances Ivanhoe’s proprietary exploration model
Ivanhoe geologists have developed proprietary geological models based on increased
knowledge of the architecture of this emerging copper district and the formation of
high-grade mineralization, including grade distribution. This knowledge has been
increased substantially during the mining of the high-grade Kakula deposit,
demonstrating the advantage of an operating mine adjacent to active exploration.
The discovery was solely targeted using knowledge of shelf architecture. The
intersection of high-grade mineralization, at over 1,000 meters depth in the Western
Foreland, confirms the criteria used for targeting blind mineralization across the 2,654-
square-kilometre license package.
Figure 4. Kitoko dip section, looking east, of discovery holes DD003 to DD011
The Kitoko discovery has no surface expression in either geochemistry or geophysics.
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Figure 5. Zoomed in dip section, looking east as shown in Figure 4, of the Kitoko
discovery, showing grade intervals at a 1% cut-off
Members of Ivanhoe Mines’ exploration team with drill core from the 2023
exploration campaign, which led to the high-grade Kitoko copper discovery.
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Kitoko discovery follows release of maiden Makoko and Kiala Mineral
Resources, further enhancing near-term development optionality for
Western Foreland
On November 13, 2023, Ivanhoe announced the independently verified, maiden Mineral
Resource estimates for the high-grade Makoko and Kiala deposits, also within its
Western Foreland Exploration Project. The Kitoko discovery is within five kilometres of
the Makoko deposit.
Makoko and Kiala are two distinct discoveries adjacent to the Kamoa-Kakula Copper
Complex and continue Ivanhoe’s distinguished track record of making greenfield
discoveries in this uniquely endowed geological terrain.
The Makoko Discovery remains open along an approximate west-east trending strike
and there is potential for further resource expansion within the Makoko Exploration
Area. High-grade copper mineralization has been outlined along a corridor that is
currently approximately 700 metres wide and at least four kilometres in length. The
Kiala Discovery remains open to the north, with the potential for parallel mineralized
zones to be defined east and west of the current Mineral Resource.
Nique Karaj a Zeng, Geologist, Ivanhoe Mines, holding Kitoko core from hole
DD008