Drilling to continue through the winter
Ivanhoe Electric (NYSE American: IE), led by mining legend Robert Friedland, has to invest 40 million US dollars in exploration and pay a total of 4.5 million US dollars to Canadian explorer Brixton Metals (WKN A114WV / TSXV BBB) to secure a stake of up to 75% in the Hog Heaven project in Montana.
And Ivanhoe is pushing ahead with the exploration of Hog Heaven, now announcing that it has already completed 12 drill holes totaling 10,905 meters in the current drilling program since June 2023. The company announced that the drilling has successfully extended the high-sulphidation mineralization and that the latest analytical results of the samples obtained have provided further indications that a copper porphyry deposit can be found at Hog Heaven.
Thick sections of mineralization drilled
The highlights of the results now presented by Ivanhoe were:
- – 348 meters of 0.43 g/t gold, 40.48 g/t silver, 0.22% lead and 0.12% zinc (1.08 g/t gold equivalent) from 141 to 489 meters depth, including
– 1 meter of 2,180 g/t silver, 5.16 g/t gold, 6.00% lead, 6.14% zinc and 0.63% copper from 147.8 to 148.8 or 36.94 g/t gold equivalent and
– 145 meters of 0.91 g/t gold equivalent (0.26 g/t gold, 27.47 g/t silver, 0.20% copper), including
0.95 meters of 24.96 g/t gold equivalent (5.39 g/t gold, 524 g/t silver, 7.99% copper)
Further work is pending on a geophysical (Typhoon) survey conducted by Ivanhoe Electric on the project. It was further reported that porphyry-style stockwork quartz veins observed in numerous rock fragments within a late intrusion could provide additional evidence of a porphyry system. And the stated aim of Ivanhoe’s latest work at Hog Heaven is to search for porphyry copper mineralization at depth.
Brixton’s Chairman and CEO Gary R. Thompson explained, “Exploration drilling continues to intersect long intervals of high-sulphidation gold-silver-copper-lead-zinc mineralization at the Hog Heaven Project. High-sulphidation epithermal mineralization is known to be associated with and generally located above copper porphyry type deposits. We look forward to the next batch of drill assays and Ivanhoe Electric’s Typhoon survey results from the ongoing program at the Hog Heaven Project.”
Ivanhoe Electric has stepped out with current exploration drilling to the west and southwest where known mineralization remains open. A diamond core drill rig is currently on site and is expected to remain active until the end of winter, weather permitting.
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