Ivanhoe Mines Ltd TSX:IVN in joint venture with BHP Billiton Ltd announced assays from the the Ulaan Khud North Discovery of the Oyu Tolgoi copper-gold mining complex in southern Mongolia. Results include 0.94% copper over 19 metres, 1.4% over 9.9 metres, 1.09% over 6 metres, 1.36% over 3.3 metres, 2.43% over 9.6 metres, 1.16% over 4 metres and 2.24% over 7.7 metres. Gold results included 0.25 g/t gold over 9.9 metres and 0.2 g/t over 7.7 metres. BHP Billiton has earned a 50% interest in the joint venture.
Ivanhoe CEO Robert Friedland said, “The Ulaan Khud North discovery reinforces our longstanding belief that with continued exploration there is excellent potential to discover new porphyry deposits, rich in copper and gold, which are associated with the world-class Oyu Tolgoi mineralized trend.”
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by Ted Niles