For Kamoa Discovery DRC | Friedland Says Electric Vehicles to Have ‘Massive Implications’ for Metals Market URANIUM | Arrow and Harpoon Elevate Athabasca Targets

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For Kamoa Discovery DRC | Friedland Says Electric Vehicles to Have ‘Massive Implications’ for Metals Market URANIUM | Arrow and Harpoon Elevate Athabasca Targets Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM BONUS MINEXPO 2016 Preconvention VTEM™ | ZTEM™ | Gravity | Magnetics supplement 905 841 5004 | geotech.ca inside OSISKO MINING ODDS ‘N’ SODS Invests in Barkerville Gold Mines / 3 Keith Barron’s first trip to Ecuador / 4–5 AUGUST 22–28, 2016 / VOL. 102 ISSUE 28 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM NexGen Kakula discovery a potential unveils Harpoon ‘game changer’ for Kamoa discovery DRC | Friedland says electric vehicles to have ‘massive implications’ for metals market URANIUM | Arrow and Harpoon elevate Athabasca targets BY MATTHEW KEEVIL [email protected] VANCOUVER exGen Energy (TSX: NXE; US-OTC: NXGEF) just can’t stop making discoveries Nat its Rook I uranium property in Saskatchewan’s Athabasca basin. The company made headlines earlier this year with an impressive maiden re- source at its Arrow deposit, and now One of the seven drill rigs operating at Ivanhoe Mines’ Kakula copper prospect in the Democratic Republic of the Congo. IVANHOE MINES summer drilling along the regional Patterson Lake corridor appears to and more consistent than other west of the town of Kolwezi, twin have once again hit pay dirt. BY LESLEY STOKES known mineralization elsewhere declines into the deposit’s initial The new Harpoon zone lies 4.7 [email protected] on the Kamoa project,” and that mining area at Kansoko Sud are km northeast of the core Arrow VANCOUVER it is “a complete game-changer in progressing ahead of schedule, deposit, which hosts 3.5 million in- our planning for the development and the company expects to reach ferred tonnes grading 2.6% uranium he latest drilling by Ivanhoe of Kamoa.” the orebody at 150 metres deep by oxide for a contained 202 million Mines (TSX: IVN; US-OTC: The partners have increased the early 2017. lb. uranium. Discovery hole 16-8 IVPAF) at the Kakula tar- current drill program by another Ivanhoe plans to mine Kansoko’s intersected 17 metres of continuous Tget — 5 km southeast of its large 9,000 metres to 34,000 metres, us- 71.9 million probable tonnes at See NEXGEN / 2 Kamoa copper deposit, being code- ing seven rigs. The first resource 3.9% copper, or 5.1 billion lb. cop- Introducing the veloped with Chinese partner Zijin estimate for Kakula is due later per — using a 1% cut-off — for the Underground motor grader Mining Group in the Democratic next month, at which time the next 24 years at 3 million tonnes PM40069240 Republic of the Congo (DRC) — is partners would work on Kakula’s per annum. unveiling what Ivanhoe says could preliminary economic assessment. But that’s little compared to the be “Africa’s most significant copper Ivanhoe’s technical team is con- 52.9 billion lb. copper in the rest discovery.” templating a box cut at Kakula to of the sediment-hosted copper Exploration drilling at Kakula accommodate decline ramps that deposit. has outlined what appears to be a would provide underground access Kamoa’s indicated and inferred blanket of high-grade copper min- into the deposit. resources — which are based on eralization more than 3 km long, “It’s the richest thing we’ve ever 400- and 800-metre drill centres at 350 metres depth. Intercepts seen, and it will stand as our best — stand at 752 million indicated within two drill holes spaced 2 discovery,” Ivanhoe executive tonnes of 2.7% copper and 190 km apart have returned 6.8 metres chairman Robert Friedland said million inferred tonnes of 2.1% of 7.5% copper and 10.3 metres during a presentation at the Sprott copper, using a 1% total copper Email: (705) 476-4500 of 6.9% copper, assuming a 2.5% Natural Resource Symposium in cut-off grade. Email: [email protected] copper cut-off. Vancouver in July, before the most Zijin acquired 49.5% of Ivanhoe’s Ivanhoe says the Kakula discov- recent assay results. www.millertechnology.com See IVANHOE / 2 ery is “substantially richer, thicker Meanwhile at Kamoa, 25 km Leave no unturned. Reduce uncertainty. Contact us for expertise in all aspects of mining. Contact our Mining Group at [email protected] Visit weirfoulds.com or follow us on: WeirFoulds_NorthernMiner-1.indd 1 12/18/2015 2:58:15 PM GEOLOGY: LOOKING AT CANADA’S EAST COAST / 11 1 2 3 4 5 11 13 14 16_AUGUST22_Main .indd 1 2016-08-16 7:18 PM 2 AUGUST 22–28, 2016 / THE NORTHERN MINER WWW.NORTHERNMINER.COM Kakula discovery a potential ‘game changer’ for Kamoa A drill sample of chalcocite-rich mineralization (nearly 80% copper by weight) intersected at 619 metres below surface in the Kakula zone, near Ivanhoe Mines’ A recently installed ventilation system for excavation of twin tunnels that extend more than 130 metres from the box cut since Kamoa copper project in the Democratic Republic of the Congo. IVANHOE MINES May, at Ivanhoe Mines’ Kamoa copper project. IVANHOE MINES IVANHOE From 1 Platreef hosts 214 million indi- “WE NEED TO present value at an 8% discount rate, 2,108 kg, compared to a gasoline- cated tonnes grading 4.1 grams per and a 31% internal rate of return. powered V6 Toyota Camry’s curb 95% stake in Kamoa for US$412 mil- tonne platinum, palladium, gold RETOOL THE AUTO Friedland foresees a deficit in the weight of 1,551 kg.) lion, and the partners are negotiating and rhodium (4PE), 0.3% nickel and INDUSTRY, AND zinc market this year, largely due to In hydrogen-powered cars, in a 15% interest transfer in Kamoa to 0.2% copper, as well as 415 million MMG’s Century zinc mine closure contrast, fuel cells use platinum as the DRC government. inferred tonnes at 3.54 grams 4PE, THAT HAS MASSIVE in Australia, Vedanta Resources’ a catalyst to split hydrogen fuel into 0.3% nickel and 0.2% copper, using IMPLICATIONS ON Lisheen mine closure in Ireland and ions and electrons. Platreef a 2-gram 4PE cut-off. WHAT WE’RE GOING Glencore’s cuts to its zinc operations. Other disruptive technologies In South Africa at Ivanhoe’s The rest of Platreef is owned by During his presentation, Fried- include wind turbines, solar panels 64%-owned Platreef platinum group a local black-empowerment group TO MINE AND HOW land flipped between photos of Wall and even drones — all of which metals project, 280 km northeast of (26%) and a Japanese consortium WE’RE GOING TO Street in 1900 and 1913. In the first, require copper and platinum group Johannesburg, early mine construc- (10%). the street is populated with horse metals to function. tion is also progressing. In July, the In the DRC, the company is also MINE IT.” and buggies, and in the latter, it’s Friedland drew attention to air company sunk the first shaft into advancing its Kipushi zinc-copper ROBERT FRIEDLAND packed with motor vehicles. pollution, which he called “a tre- the deposit, and expects to reach project and historic mine, 30 km EXECUTIVE CHAIRMAN, His point was to demonstrate mendous problem,” especially in the shaft’s final 1 km depth by 2018. southwest of Lubumbashi, with 32% IVANHOE MINES how quickly disruptive technolo- China. “A huge source of it comes The project would operate at 4 joint-venture partner Gecamines, gies can transform demand and from vehicles, so we need to retool million tonnes per year during the a state-owned mining company. “change the world.” He says the the auto industry — and that has first phase. Ivanhoe has a plan to The sub-vertical orebody occurs million tonnes of 28.2% zinc and era of gasoline-powered vehicles is massive implications on what we’re double that rate in a second phase, in the same rock belt that hosts the 1.2% copper. coming to a close, and it will require going to mine and how we’re going reaching 12 million tonnes per year region’s sediment-hosted copper and In May, Ivanhoe released a pre- a “huge amount of metal” to make to mine it,” he said. in phase three. cobalt occurrences. But unlike the liminary economic assessment for the transformation. “We’re in a position now where “Nobody at the mines will lift sediment-hosted deposits, where redeveloping the mine, which was “Your typical car has 55 lb. copper, the central banks have exhausted anything heavier than a pencil. copper precipitated out of migrating placed on care and maintenance a Toyota Prius has 110 lb. copper and monetary policy, interest rates have They’ll be in air-conditioned cabs groundwater and into sedimentary in 1993. The report envisages a an electric car uses 165 lb. copper,” gone to zero pretty much everywhere and everything will be mechanized,” horizons, Kipushi formed due to 530,000-tonne zinc concentrate he said. “That’s a huge amount of — in many countries they’ve gone Friedland said. “If we put a WiFi high-fluid flow along a pipe-shaped per annum underground opera- metal under your feet.” negative — so the next great wave system underground we can run fault or karst breccia. tion, over a 10-year mine life, which Extra weight also comes from an is fiscal policy,” he said. “Govern- the entire mine with one 19-year-old The deposit hosts measured and would rank it among the world’s electric vehicle’s lithium-ion batter- ments are going to engage in deficit boy or girl on an iPad. In the future, indicated resources of 10.2 million major zinc mines. ies, which include lesser amounts of spending again, and they need a underground mines will be com- tonnes of 34.9% zinc and 0.7% cop- Based on the PEA, the project cobalt and spherical graphite.
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