Ivanhoe Mines: Kakula Underground Mine Development Has Reached the Edge of the High-Grade Ore as Mining Advances Toward Zones in Excess of 8% Copper
DGAP-News: Ivanhoe Mines Ltd.
/ Key word(s): Miscellaneous
Ivanhoe Mines: Kakula Underground Mine Development Has Reached the Edge of the High-Grade Ore as Mining Advances Toward Zones in Excess of 8% Copper 09.09.2019 / 04:03
The issuer is solely responsible for the content of this announcement.Image 2: Copper-rich bornite and chalcocite mineralizationTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_45ac02f144226a32_006full.jpg
Project construction progressing well - On track for first concentrate in Q3 2021
Work on the decline rock handling system that will be used to transport copper ore from Kakula's underground workings to the surface processing plant is progressing very well. The concrete foundations for the head end of the conveyor belt have been completed and work on the portal electrical substation is nearing completion. The expected date for the first ore to surface using the decline conveyor system is March 2020.
Construction of the permanent underground dewatering system is well advanced with the initial water storage dam and pumping station complete. The excavation for the main decline's bottom water storage dam has been completed and work is underway on the second pumping system.
Ventilation shaft number 1 will be commissioned shortly and work on ventilation shafts 2 and 3 has started. The vertical, 5.5-metre diameter shafts will supply fresh air from surface to the northern side of the underground Kakula orebody and allow the mine to double its underground mining crews to six. More than 5,000 metres of underground development has been completed to date, which is consistent with the schedule laid out in the February 2019 Kakula pre-feasibility study.
Basic engineering design and costing for the underground mine at Kakula recently has been completed. Detailed design is ongoing and the bulk of the procurement packages are scheduled to be placed by the end of 2019.
Engineering design, procurement and construction for the processing plant is fully underway. Orders for all of the long-lead items have been placed, including the ball mills, crushers, high-pressure grinding rolls, flotation cells, re-grind mills, thickeners and concentrate filter. Surface earthworks and terracing for the concentrator and surface infrastructure is well advanced, and the civil contract for the processing plant now has been signed. The tender for the structural, mechanical, piping and plate-work erection contract has been issued.
Energizing of the permanent 220-kilovolt overhead hydropower lines to the substation is expected by the end of 2020, well in advance of plant commissioning.
Construction of the new highway connecting the Kakula Mine with Kolwezi airport is more than 50% complete and remains on schedule to be fully operational by the end of this year. Once completed, the new highway will provide Kamoa-Kakula with important new transportation connections for the import of construction materials and export of copper concentrates. The Kakula permanent village construction also is progressing to plan with some accommodation units ready for occupation.
View of Kakula's permanent village under construction, with the Kakula's main box cut/portal and twin declines (in red) illustrated in Figure 2, and processing plant under construction (in yellow).
Image 3: View of Kakula's permanent village under constructionTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_image3.jpg
Kakula's main box cut/portal and northern declines, the conveyor belt transfer foundations and portal electrical substation.
Image 4: View of KakulaTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_45ac02f144226a32_010full.jpg
Installing high-capacity fans at Kakula's 5.5-metre-diameter ventilation shaft 1 that will supply fresh air from surface to the northern side of the underground Kakula orebody.
Image 5: Installing high-capacity fansTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_45ac02f144226a32_011full.jpg
Kamoa-Kakula's mine development team and geologists celebrating another impressive safety milestone. Ivanhoe Mines is very proud of the team's safety record that now exceeds 7.5 years with zero lost-time injuries.
Image 6: Kamoa-Kakula's mine development team and geologists celebratingTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_45ac02f144226a32_012full.jpg
Contractors constructing a concrete culvert on the new highway that will link Kamoa-Kakula to the Kolwezi airport. The highway is more than 50% complete and is scheduled to be fully operational by the end of this year.
Image 7: Contractors constructing a concrete culvertTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3396/47640_45ac02f144226a32_013full.jpg
Qualified Person and Quality Control and Assurance
Scientific and technical information in this news release has been reviewed and approved by Stephen Torr, P.Geo., Ivanhoe Mines' Vice President, Project Geology and Evaluation, a Qualified Person under the terms of National Instrument 43-101. Mr. Torr is not independent of Ivanhoe Mines. Mr. Torr has verified the technical data disclosed in this news release.
Ivanhoe Mines maintains a comprehensive chain of custody and quality assurance and quality control (QA/QC) program on assays from its Kamoa-Kakula Copper Project. Half-sawn core is processed at the Kamoa-Kakula on-site preparation laboratory and prepared samples then are shipped by secure courier to Bureau Veritas Minerals (BVM) Laboratories in Australia, an ISO17025-accredited facility. Copper assays are determined at BVM by mixed-acid digestion with ICP finish. Industry-standard certified reference materials and blanks are inserted into the sample stream prior to dispatch to BVM. For detailed information about assay methods and data verification measures used to support the scientific and technical information, please refer to the March 2019 technical report titled "Kamoa-Kakula 2019 Integrated Development Plan", on the Ivanhoe Mines SEDAR profile at www.sedar.com and available at www.ivanhoemines.com.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of new mines at the Kamoa-Kakula copper discovery in the Democratic Republic of Congo (DRC) and the Platreef palladium-platinum-nickel-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC. The company also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences, adjacent to the Kamoa-Kakula mining licence.
Investors: Bill Trenaman +1.604.331.9834Media: Kimberly Lim +1.778.996.8510
Cautionary statement on forward-looking information
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including without limitation, (1) statements regarding the deposit's central mining zones that are in excess of 8% copper; (2) statements regarding the thick, ultra-high-grade mining zones in the centre of the Kakula Deposit, with grades greater than 8% copper, are expected to be intersected in the second half of 2020; (3) statements regarding the processing plant is expected to begin operations in second half of 2021 and first copper concentrate currently is scheduled for the third quarter of 2021; (4) statements regarding the expected date for the first rock to surface using the decline conveyor system is March 2020; (5) statements regarding detailed mine design is ongoing and the bulk of the procurement packages are scheduled to be placed by the end of 2019; (6) statements regarding energizing of the permanent 220-kilovolt overhead power lines to the Kakula substation is expected by the end of 2020, well in advance of plant commissioning; (7) the building of multiple high grade copper mines at the Kamoa-Kakula Project, and (8) statements regarding construction of the new highway connecting the Kakula Mine with the Kolwezi airport being on schedule to be fully operational by the end of this year.
Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.
All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Mines' management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations (including retroactive application), the failure of contractual agreements with the State to be honoured in whole or in part, or in the enforcement or application of laws, rules and regulations by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices, including the price of copper; unexpected failure or inadequacy of infrastructure, or delays in the development of infrastructure, the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations, and the results of economic studies and evaluations. Other important factors that could cause actual results to differ from these forward-looking statements also include those described under the heading "Risk Factors" in the company's most recently filed MD&A as well as in the most recent Annual Information Form filed by Ivanhoe Mines. Readers are cautioned not to place undue reliance on forward-looking information or statements. The factors and assumptions used to develop the forward-looking information and statements, and the risks that could cause the actual results to differ materially are set forth in the "Risk Factors" section and elsewhere in the company's most recent Management's Discussion and Analysis report and Annual Information Form, available at www.sedar.com.
This news release also may contain references to estimates of Mineral Resources and Mineral Reserves. The estimation of Mineral Resources and Mineral Reserves is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral Resource or Mineral Reserve estimates may have to be re-estimated based on, among other things: (i) fluctuations in copper prices or other mineral prices; (ii) results of drilling; (iii) results of metallurgical testing and other studies; (iv) changes to proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; (vi) the possible failure to receive required permits, approvals and licences, or changes to any such permits, approvals or licences; and (v) changes in laws, rules or regulations, including changes to tax, VAT, and royalty rates whether to be applied prospectively or retroactively.
Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47640
Click on, or paste the following link into your web browser,to view the associated documents
http://www.newsfilecorp.com/release/47640 News Source: Newsfile
09.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Ivanhoe Mines Ltd.
Canada ISIN: CA46579R1047 EQS News ID: 870177 End of News DGAP News Service