News Release

Ivanhoe Mines updates ongoing exploration and development work at its Kamoa copper discovery in the Democratic Republic of Congo’s southern province of Katanga

Publish date: 13 May 2014
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Recent drill hole intercepted 15.7 metres true thickness
of 7.04% copper in Kansoko Sud high-grade area
that will be the focus of initial mining

LUBUMBASHI, DEMOCRATIC REPUBLIC OF CONGO – Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX: IVN), and Lars-Eric Johansson, Chief Executive Officer, today issued a summary of significant, ongoing exploration and development activities at the company’s Tier 1 Kamoa copper discovery, near the mining centre of Kolwezi in the Democratic Republic of Congo’s southern province of Katanga.

Mr. Friedland said the work has further confirmed that the focus of the company’s initial mine development at Kamoa will be on the high-grade Kansoko Sud area, where ongoing infill drilling since the last resource estimate was produced in 2012 has defined a thick, near-surface zone of high-grade copper sulphide mineralization that would be amenable to treatment by a conventional copper flotation plant.

One of the 101 infill holes drilled in this area, for which assays were received in April 2014, intercepted 15.7 metres (true width) of 7.04% copper at a 1.5% total copper cut-off.

Infill drilling confirms overall grade and thickness of 2012 resource estimate

Since issuing an updated, independent preliminary economic assessment (PEA) for the Kamoa Project in November 2013, Ivanhoe has concentrated its exploration drilling activities on the acquisition of samples for metallurgical testing, as well as undertaking drilling on 200-metre close-spaced sections in the Kansoko Sud area. Exploration drilling has been directed at infilling those areas identified as primary mining targets in the PEA.

A total of 60 of the 101 holes with assays returned since the release of the updated PEA six months ago were drilled in the Kansoko Sud area, 29 were in Kansoko Centrale, one in Kansoko Nord, nine in Kamoa Sud and two in Makalu. The final composited assay results are included at the end of this news release.

Infill drilling of the initial mining area has confirmed the overall grade and thickness of the December 2012 resource estimate in these areas and has provided invaluable refinement within localized areas. While traditionally modelled on a 1% total copper cut-off to define a selective mineralized zone, the deposit has shown that grade continuity also exists at an elevated 1.5% total copper vertical cut-off, and that a 2.0% vertical total copper cut-off may be feasible in certain areas.

Figure 1. Location of holes with assays returned on Kamoa Copper Project from October 2013 to May 2014.

Initial mine economics should benefit from narrower, higher-grade intervals

Recent work defining the selective mineralized zone (SMZ) at higher vertical cut-offs has shown that narrower, higher-grade intervals create more expansive, contiguous zones, which should improve initial mine economics.

A new base case for future engineering studies is being developed using a 1.5% total copper cut-off with a minimum three-metre mining height and a maximum mining constraint of six metres (a single mining cut); incremental mineralization above six metres will be included only if the grade of the incremental mineralization exceeds 2%. This approach was introduced for thicker intercepts, to ensure initial mining cuts would extract only higher-grade material.

Encouraging results of Kansoko Sud infill drilling and Hole DKMC DD860

The initial mine plan produced in the PEA focused initial mining in the shallower portion of Kansoko Sud, an area previously drilled on 400-metre spacings. Since completion of the PEA, Ivanhoe has concentrated on substantially closing the distances to 100-metre spacings on 200-metre-spaced, east-west lines, with the goal of demonstrating grade and structural continuity of this high-grade zone at potentially elevated cut-offs. Drilling is continuing in this area; results to date are extremely encouraging and have confirmed — and in some locations exceeded — the initial results based on holes spaced 400 metres apart.

Included in the new drill results is Hole DD860, which is a PQ-sized parent hole of a series of wedges drilled for comminution. Assay results received for Hole DD860 show a remarkable combination of grade and thickness, with a copper grade of 6.88% over 17.3 metres (16.2 metres true thickness) at a 1% total copper composite cut-off. Using a higher cut-off of 1.5% total copper, the intercept returned 7.04% total copper over 16.8 metres (15.7 metres true thickness). Sections through Hole 860 displayed good continuity of grade and thickness in the north-south and east-west orientations, as shown in the accompanying sections — which also report the elevated, 1.5% total copper composites.

Exploration continuing in 2014

During the remainder of 2014, Ivanhoe intends to continue its detailed infill program in the initial mining area to cover an area of approximately one square kilometre with a 100-metre detailed grid.

Progress on pre-feasibility study, with initial mining at Kansoko Sud

In line with the phased approach to project development outlined in the 2013 updated Kamoa PEA, the Kamoa pre-feasibility study (PFS) is progressing on the basis of an initial three-million-tonne-per-annum (3Mtpa) mine and concentrator.

Reviews of the resource model, combined with results from recent infill drilling at Kansoko Sud, have confirmed grade continuity, which allows the resource model to be constrained at a higher cut-off grade. The focus in planning the early years of mine production continues to be on the near-surface and high-grade material from Kansoko Sud to maximize margins. The 3Mpta mine and concentrator can be split into modules to potentially better match the underground ramp-up and further reduce the pre-production development capital. This will be examined in more detail as part of the pre-feasibility study to provide flexibility to the development of the Kamoa Project.

Work to begin this year on decline to access the Kamoa underground

Preparations are underway to start the first mine-access decline at Kamoa’s Kansoko Sud area. The decline is designed to provide access to the high-grade copper resources that would be targeted for the planned first phase of production using the room-and-pillar mining method.

Figure 2. New holes drilled in the Kansoko Sud and Kansoko Centrale area showing north-south and east-west section lines through Hole DKMC DD860, superimposed on Cu% x true thickness contours.

Figure 3. Kansoko Sud Section Line looking west, showing 1.5% copper cut-off composites.

Figure 4. Kansoko Sud Section Line looking north, showing 1.5% copper cut-off composites.

Large-scale underground mining to use room-and-pillar and drift-and-fill methods

Kamoa is considered amenable to large-scale, mechanized mining using a combination of room-and-pillar and drift-and-fill methods, given the deposit’s favourable mining characteristics as derived from the December 2012 mineral resource — including its relatively undeformed, continuous mineralization, local continuity between closely-spaced drill holes and flat-to-moderate dips. The low dip and the flat geometry of the resource make it conducive to room-and-pillar mining in the shallow portions of the deposit, which would transition to drift-and-fill mining in the deeper sections. These conventional mining methods are the accepted industry standards for deposits such as Kamoa.

A minimum mining thickness of 3.5 metres was used for the PEA; any thinner blocks were diluted to 3.5 metres using the average grade of the adjacent hanging wall and footwall blocks. Room-and-pillar panels are designed to be 80 metres wide and 500 metres long, with in-panel extraction ratios ranging from 60% to 80%, depending on the panel depth below surface. Partial extraction of the barrier pillars (up to 50%) is planned at the end of the mining of each section.

The overall extraction ratio in the room-and-pillar areas is expected to be between 56% and 82%, depending on the depth below surface. Higher in-panel extraction ratios of up to 95% are expected within the drift-and-fill areas, with an overall extraction ratio of 85% after partial extraction of barrier pillars.

Kamoa Project description

The Kamoa Project is a newly discovered, very large, stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometres west of the town of Kolwezi and about 270 kilometres west of the provincial capital of Lubumbashi. Ivanhoe Mines holds its 95% interest in the Kamoa Project through a subsidiary company, Kamoa Copper SPRL. A 5%, non-dilutable interest in Kamoa Copper SPRL was transferred to the DRC government on September 11, 2012, for no consideration, pursuant to the DRC Mining Code. Ivanhoe also has offered to sell an additional 15% interest to the DRC on commercial terms, to be negotiated.

In December 2012, a new, independent mineral resource estimate was prepared for the Kamoa Copper Discovery by AMEC E&C Services, of Reno, Nevada. The new estimate ranked Kamoa as Africa’s largest, high-grade copper discovery and the world’s largest, undeveloped high-grade copper discovery.

As of January 2013, Ivanhoe Mines had discovered Indicated Mineral Resources of 739 million tonnes grading 2.67% copper, containing 43.5 billion pounds of copper, and Inferred Mineral Resources of 227 million tonnes grading 1.96% copper, containing 9.8 billion pounds of copper. A 1% copper cut-off grade and a minimum vertical mining thickness of three metres were applied in each classification.

Kamoa Mineral Resources December 2012

Copper cut-off Tonnage (Mt) Copper Grade Contained Copper (billion lbs)
Indicated Resource
3.00% 224 3.85% 19.0
2.00% 550 3.04% 36.9
1.00% 739 2.67% 43.5
Inferred Resource
3.00% 19 3.40% 1.4
2.00% 93 2.64% 5.4
1.00% 227 1.96% 9.8

Note: Mineral Resources have an effective date of December 10, 2012. Harry M. Parker and Gordon Seibel, both SME Registered Members, are the Qualified Persons responsible for the Mineral Resource estimate, which was prepared by Mr. Seibel. Mineral Resources are reported using a total copper cut-off grade of 1% copper and a minimum assumed mining thickness of three metres. A 1% copper cut-off grade is typical of analogue deposits in neighbouring Zambia.

Qualified Person and Quality Control and Assurance

The scientific and technical information in this 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 has verified the technical data disclosed in this news release.

Copper assays were determined by mixed-acid digestion with ICP finish at Ultra Trace Geoanalytical Laboratories in Perth, Australia, an ISO 17025-accredited laboratory. Ivanhoe Mines utilized a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody and independent laboratory re-check system for quality control. For detailed information about assay methods and data verification measures used to support the scientific and technical information, please refer to the current technical report on the Kamoa Copper Project on the SEDAR profile of Ivanhoe Mines at www.sedar.com.

About Ivanhoe Mines

Ivanhoe Mines, with offices in Canada, the United Kingdom and South Africa, is advancing and developing its three principal projects:

  • The Kamoa copper discovery in a previously unknown extension of the Central African Copperbelt in the DRC’s Province of Katanga.
  • The Platreef Discovery of platinum, palladium, nickel, copper, gold and rhodium on the Northern Limb of the Bushveld Complex in South Africa.
  • The historic, high-grade Kipushi zinc, copper and germanium mine, also on the Copperbelt in the DRC, now being drilled and upgraded following an 18-year care-and-maintenance program that ended when Ivanhoe acquired its majority interest in the mine in 2011.

Ivanhoe Mines also is evaluating other opportunities as part of its objective to become a broadly based, international mining company.

Information contacts

Investors
Bill Trenaman +1.604.331.9834

Media
North America: Bob Williamson +1.604.512.4856
South Africa: Jeremy Michaels +27.11.088.4300

Website www.ivanhoemines.com

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, the timing and results of: (i) a pre-feasibility study at the Kamoa Project which contemplates the declaration of a mineral reserve estimate; (ii) plans to start the first underground mine-access decline at the Kamoa Project in 2014; (iii) potential mining plans; and (iv) completion of an infill drill program in 2014 to cover an area of approximately one square kilometre with a 100-metre detailed grid. 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.

As well, the results of the preliminary economic assessment of the Kamoa Project constitute forward-looking information, including estimates of internal rates of return, net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, and estimates of capital and operating costs. Furthermore, with respect to this specific forward-looking information concerning the development of the Kamoa Project, the company has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include among others: (i) the adequacy of infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development, (vii) the cost of consumables and mining and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the availability and productivity of skilled labour; (xiii) the regulation of the mining industry by various governmental agencies; and (xiv) political factors.

This release also contains references to estimates of Mineral Resources. The estimation of Mineral Resources 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 (including estimated future production from the Kamoa Project, the anticipated tonnages and grades that will be mined and the estimated level of recovery that will be realized), 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 estimates may have to be re-estimated based on: (i) fluctuations in copper price; (ii) results of drilling, (iii) metallurgical testing and other studies; (iv) proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licenses.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed here, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this 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 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 release.

The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors 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.

Collar Co-Ordinates for Holes with Assays Received October 1, 2013, to April 12, 2014

Borehole ID Area Easting Northing Elevation
DKMC_DD749 Kansoko Centrale 309046 8804721 1477
DKMC_DD757 Kansoko Centrale 309042 8804904 1478
DKMC_DD762W1 Kansoko Centrale 309239 8804899 1480
DKMC_DD790 Kansoko Centrale 309411 8805327 1484
DKMC_DD791 Kansoko Centrale 309460 8804904 1484
DKMC_DD793 Kansoko Centrale 309240 8805304 1482
DKMC_DD796 Kansoko Centrale 309874 8805322 1487
DKMC_DD798 Kansoko Nord 311205 8809497 1485
DKMC_DD800 Kansoko Centrale 309817 8804953 1489
DKMC_DD801 Kansoko Centrale 309548 8805392 1485
DKMC_DD802 Kansoko Centrale 309435 8805533 1484
DKMC_DD805 Kansoko Centrale 309447 8805764 1480
DKMC_DD806 Kansoko Centrale 309416 8805898 1476
DKMC_DD809 Kansoko Centrale 309872 8805537 1480
DKMC_DD811 Kansoko Centrale 310253 8805938 1484
DKMC_DD812 Kansoko Centrale 309661 8804909 1487
DKMC_DD813 Kansoko Centrale 309851 8805941 1477
DKMC_DD814 Kansoko Centrale 310058 8805746 1479
DKMC_DD815 Kansoko Sud 307602 8802902 1465
DKMC_DD816 Kansoko Sud 307401 8802903 1465
DKMC_DD817 Kansoko Sud 307797 8802702 1464
DKMC_DD818 Kansoko Centrale 310293 8806305 1485
DKMC_DD819 Kansoko Centrale 309107 8805100 1480
DKMC_DD820 Kansoko Sud 308295 8802702 1463
DKMC_DD821 Kansoko Sud 308282 8802306 1458
DKMC_DD822 Kamoa Sud 309000 8807899 1462
DKMC_DD823 Kansoko Centrale 309855 8805760 1472
DKMC_DD824 Kamoa Sud 309400 8807899 1468
DKMC_DD825 Kansoko Sud 307837 8802307 1458
DKMC_DD826 Kansoko Centrale 309489 8805104 1484
DKMC_DD827 Kamoa Sud 309999 8807996 1472
DKMC_DD828 Kansoko Sud 307859 8803500 1473
DKMC_DD829 Kamoa Sud 309002 8808201 1457
DKMC_DD830 Kamoa Sud 309399 8808201 1461
DKMC_DD831 Kansoko Sud 308195 8803499 1475
DKMC_DD832 Kamoa Sud 309199 8808403 1457
DKMC_DD833 Kamoa Sud 309799 8808399 1461
DKMC_DD834 Kansoko Centrale 309128 8804500 1477
DKMC_DD835 Kansoko Centrale 309909 8806301 1479
DKMC_DD836 Kansoko Sud 308502 8803300 1470
DKMC_DD837 Kansoko Sud 308296 8803101 1470
DKMC_DD838 Kansoko Centrale 308705 8804102 1475
DKMC_DD840 Kansoko Centrale 308283 8804105 1475
DKMC_DD841 Kansoko Sud 308708 8803699 1473
DKMC_DD842 Kansoko Sud 307604 8803695 1474
DKMC_DD843 Kansoko Sud 307502 8803699 1474
DKMC_DD844 Kansoko Sud 307402 8803294 1469
DKMC_DD845 Kansoko Sud 307801 8803894 1474
DKMC_DD846 Kansoko Sud 307397 8803693 1474
DKMC_DD847 Kansoko Sud 307500 8803299 1470

Collar Co-Ordinates for Holes with Assays Received October 1, 2013, to May 12, 2014

Borehole ID Area Easting Northing Elevation
DKMC_DD848 Kansoko Sud 307502 8803498 1473
DKMC_DD849 Kansoko Sud 307764 8803105 1469
DKMC_DD850 Kansoko Sud 307542 8802902 1465
DKMC_DD851 Kansoko Sud 307744 8802698 1464
DKMC_DD852 Kansoko Sud 307557 8802502 1461
DKMC_DD853 Kansoko Sud 307506 8803096 1467
DKMC_DD854 Kansoko Sud 307647 8802501 1461
DKMC_DD855 Kansoko Sud 307774 8802500 1461
DKMC_DD856 Kansoko Sud 307870 8802499 1461
DKMC_DD857 Kansoko Sud 307799 8802899 1467
DKMC_DD858W5 Kansoko Sud 307598 8803305 1471
DKMC_DD859W5 Kansoko Sud 308000 8803304 1473
DKMC_DD860 Kansoko Sud 307790 8803303 1472
DKMC_DD860W5 Kansoko Sud 307790 8803303 1472
DKMC_DD861 Kansoko Sud 307802 8803103 1469
DKMC_DD862 Kansoko Sud 308273 8803900 1477
DKMC_DD863 Kansoko Sud 308278 8803702 1477
DKMC_DD864W5 Kansoko Sud 307802 8803697 1474
DKMC_DD865 Kansoko Sud 307527 8802303 1458
DKMC_DD866 Kansoko Sud 308072 8802904 1467
DKMC_DD867 Kansoko Sud 308059 8803698 1476
DKMC_DD868 Kansoko Centrale 308918 8804501 1476
DKMC_DD869 Kansoko Sud 308267 8802504 1461
DKMC_DD870 Kansoko Sud 308288 8802901 1466
DKMC_DD871 Kansoko Sud 308057 8802502 1461
DKMC_DD872 Kansoko Sud 307700 8803002 1467
DKMC_DD873 Kansoko Sud 307603 8803003 1467
DKMC_DD874 Kansoko Sud 308168 8803103 1470
DKMC_DD875 Kansoko Centrale 308705 8804299 1476
DKMC_DD876 Kansoko Sud 307602 8803212 1470
DKMC_DD877 Kansoko Sud 307960 8802904 1467
DKMC_DD878 Kansoko Sud 307703 8803301 1471
DKMC_DD879 Kansoko Sud 307965 8803302 1473
DKMC_DD880 Kansoko Sud 307949 8802703 1464
DKMC_DD881 Kansoko Sud 308169 8802898 1466
DKMC_DD882 Kansoko Centrale 309000 8804300 1477
DKMC_DD883 Kansoko Sud 308167 8802699 1463
DKMC_DD884 Kansoko Sud 308120 8803350 1474
DKMC_DD885 Kansoko Sud 308377 8803297 1472
DKMC_DD886 Kansoko Sud 307461 8802471 1460
DKMC_DD887 Kansoko Sud 308377 8802901 1465
DKMC_DD888 Kansoko Sud 308025 8802099 1454
DKMC_DD889 Kansoko Sud 308322 8803301 1472
DKMC_DD890 Kansoko Sud 307771 8802879 1466
DKMC_DD891 Kansoko Sud 308009 8803054 1469
DKMC_DD892 Makalu 307844 8801100 1426
DKMC_DD893 Kamoa Sud 310400 8807899 1476
DKMC_DD894 Kansoko Centrale 311631 8805207 1513
DKMC_DD895 Makalu 308253 8801097 1431
DKMC_DD896 Kamoa Sud 309635 8807205 1470
DKMC_DD902 Kansoko Sud 307596 8802392 1458

Drill Hole Composite Results for Assays Received October 1, 2013, to May 12, 2014

1% Total Copper 3m Composites 1.5% Total Copper 3m – 6m Composites
BHID From To Length Total Copper True Thickness From To Length Total Copper True Thickness
DKMC_DD749 437.00 441.50 4.5 4.06 4.44 437.0 441.5 4.5 4.06 4.44
DKMC_DD757 416.77 422.00 5.2 4.46 5.11 417.5 422.0 4.5 5.02 4.40
DKMC_DD762W1 467.06 475.00 7.9 4.24 7.92 467.6 474.0 6.5 4.81 6.43
DKMC_DD790 449.00 455.81 6.8 2.81 6.54 449.0 455.8 6.8 2.81 6.53
DKMC_DD791 530.00 534.00 4.0 4.86 3.95 530.0 534.0 4.0 4.86 3.95
DKMC_DD793 399.00 407.50 8.5 5.15 8.46 399.0 406.0 7.0 5.93 6.97
DKMC_DD796 572.00 580.43 8.4 6.14 8.25 574.0 580.4 6.4 7.50 6.30
DKMC_DD798 No Mineralization – On Dome No Mineralization – On Dome
DKMC_DD800 621.00 632.00 11.0 3.14 10.87 623.5 632.0 8.5 3.70 8.40
DKMC_DD801 465.50 478.48 13.0 2.58 12.66 468.2 478.5 10.3 2.82 9.99
DKMC_DD802 411.00 424.00 13.0 2.04 12.81 413.0 421.0 8.0 2.46 7.88
DKMC_DD805 374.00 388.18 14.2 2.73 13.80 377.0 387.3 10.3 3.23 9.98
DKMC_DD806 334.00 341.96 8.0 4.85 7.79 335.0 341.1 6.1 5.88 5.97
DKMC_DD809 524.00 536.80 12.8 3.48 12.50 526.6 536.8 10.2 3.99 9.96
DKMC_DD811 556.20 561.87 5.7 4.86 5.54 556.2 561.9 5.7 4.86 5.55
DKMC_DD812 587.00 592.30 5.3 5.18 5.23 588.0 591.6 3.6 6.98 3.55
DKMC_DD813 431.00 443.50 12.5 2.46 12.03 432.0 437.5 5.5 4.18 5.29
DKMC_DD814 550.00 554.50 4.5 2.90 4.39 551.1 554.5 3.4 3.41 3.30
DKMC_DD815 In Zone of Leaching In Zone of Leaching
DKMC_DD816 No Mineralization No Mineralization
DKMC_DD817 117.50 130.00 12.5 4.3 11.86 117.5 130.0 12.5 4.3 11.89
DKMC_DD818 505.00 515.08 10.1 5.02 9.92 507.0 515.1 8.1 5.93 7.95
DKMC_DD819 398.00 404.70 6.7 4.70 6.65 398.4 404.7 6.3 4.93 6.25
DKMC_DD820 275.00 279.43 4.4 1.87 4.42 276.0 279.0 3.0 2.27 3.00
DKMC_DD821 240.00 243.17 3.2 1.29 3.10 240.0 243.2 3.2 1.29 3.09
DKMC_DD822 223.00 226.71 3.7 2.23 3.65 223.0 226.1 3.1 2.44 3.03
DKMC_DD823 464.00 470.85 6.9 2.90 6.67 467.0 470.9 3.9 3.81 5.69
DKMC_DD824 250.00 253.50 3.5 3.21 3.37 250.0 253.0 3.0 3.53 2.92
DKMC_DD825 160.00 169.65 9.7 3.07 9.45 162.0 167.7 5.7 4.29 5.58
DKMC_DD826 499.00 505.00 6.0 3.58 5.88 500.0 504.0 4.0 4.74 3.92
DKMC_DD827 292.00 300.73 8.7 6.78 8.10 292.0 299.5 8.0 7.25 7.55
DKMC_DD828 208.00 217.00 9.0 3.40 8.99 208.0 216.0 8.0 3.68 7.99
DKMC_DD829 162.00 165.50 3.5 2.85 3.44 162.0 165.5 3.0 3.14 2.95
DKMC_DD830 171.00 174.69 3.7 2.92 3.62 171.0 174.7 3.7 2.92 3.61
DKMC_DD831 295.00 307.22 12.2 1.95 12.16 301.6 307.2 5.6 2.90 5.56
DKMC_DD832 150.00 153.08 3.1 3.32 3.01 150.0 153.1 3.1 3.32 3.01
DKMC_DD833 153.00 160.00 7.0 4.58 6.83 153.0 159.0 6.0 5.10 5.91
DKMC_DD834 481.00 488.00 7.0 4.66 6.98 482.0 488.0 6.0 5.25 5.98
DKMC_DD835 385.23 389.20 4.0 3.03 3.96 385.2 389.2 4.0 3.03 3.96
DKMC_DD836 373.00 380.00 7.0 1.48 6.97 374.0 377.0 3.0 1.63 2.98
DKMC_DD837 301.00 304.00 3.0 1.67 2.99 301.0 304.0 3.0 1.67 2.99
DKMC_DD838 387.00 391.50 4.5 3.18 4.50 388.0 391.5 3.5 3.73 3.50
DKMC_DD840 274.52 280.00 5.5 1.74 5.48 274.5 279.5 5.0 1.80 4.98
DKMC_DD841 402.00 410.40 8.4 1.49 8.40 407.0 410.4 3.4 2.04 3.40
DKMC_DD842 145.00 149.00 4.0 3.81 3.83 145.0 149.0 4.0 3.81 3.82
DKMC_DD843 105.00 110.00 5.0 3.48 4.73 105.0 110.0 5.0 3.48 4.72
DKMC_DD844 No Mineralization No Mineralization
DKMC_DD845 175.00 178.75 3.8 1.21 3.68 175.0 178.8 3.8 1.21 3.68
DKMC_DD846 52.00 55.00 3.0 0.83 2.81 52.0 55.0 3.0 0.83 2.80
DKMC_DD847 No Mineralization No Mineralization

Drill Hole Composite Results for Assays Received October 1, 2013, to May 12, 2014

1% Total Copper 3m Composites 1.5% Total Copper 3m – 6m Composites
BHID From To Length Total Copper True Thickness From To Length Total Copper True Thickness
DKMC_DD848 86.50 94.00 7.5 6.65 7.02 86.5 91.0 4.5 6.90 4.21
DKMC_DD849 170.00 178.00 8.0 1.32 7.92 170.0 173.8 3.8 1.53 3.76
DKMC_DD850 No Mineralization No Mineralization
DKMC_DD851 98.00 115.33 17.3 2.05 17.28 111.0 115.3 4.3 3.72 4.32
DKMC_DD852 No Mineralization No Mineralization
DKMC_DD853 In Zone of Leaching In Zone of Leaching
DKMC_DD854 84.54 88.53 4.0 3.24 3.99 84.5 88.0 3.5 3.57 3.46
DKMC_DD855 112.00 121.00 9.0 5.85 8.98 114.0 121.0 7.0 7.06 7.00
DKMC_DD856 130.00 143.00 13.0 2.60 12.96 133.2 142.0 8.8 3.11 8.75
DKMC_DD857 182.50 186.00 3.5 1.03 3.22 182.5 186.0 3.5 1.03 3.21
DKMC_DD858W5 90.55 100.00 9.5 4.86 8.76 90.6 95.0 4.5 9.17 4.11
DKMC_DD859W5 251.14 260.33 9.2 3.80 8.77 253.0 260.3 7.3 4.39 6.99
DKMC_DD860 161.00 178.31 17.3 6.88 16.23 161.5 178.3 16.8 7.04 15.74
DKMC_DD860W5 164.77 176.50 11.7 5.81 11.07 164.8 176.0 11.2 6.01 10.58
DKMC_DD861 178.50 190.70 12.2 2.11 11.60 185.0 190.7 5.7 2.52 5.41
DKMC_DD862 275.00 282.00 7.0 1.99 7.00 278.0 282.0 4.0 2.52 4.00
DKMC_DD863 282.72 291.00 8.3 1.95 8.26 285.0 290.0 5.0 2.50 4.99
DKMC_DD864W5 189.00 199.26 10.3 4.22 10.07 191.0 199.3 8.3 4.85 8.11
DKMC_DD865 No Mineralization No Mineralization
DKMC_DD866 252.00 261.00 9.0 2.74 8.99 258.0 261.0 3.0 5.79 3.00
DKMC_DD867 229.00 235.43 6.4 2.88 6.38 229.0 235.4 6.4 2.88 6.38
DKMC_DD868 425.00 433.00 8.0 2.79 7.99 426.0 432.3 6.3 3.19 6.27
DKMC_DD869 244.00 247.00 3.0 2.04 2.99 244.0 247.0 3.0 2.04 2.99
DKMC_DD870 292.00 295.00 3.0 1.69 2.98 292.0 295.0 3.0 1.69 2.98
DKMC_DD871 184.68 192.15 7.5 3.45 7.46 184.7 192.2 7.5 3.45 7.47
DKMC_DD872 155.00 158.00 3.0 1.54 2.76 155.0 158.0 3.0 1.54 2.76
DKMC_DD873 89.00 92.00 3.0 0.62 2.75 89.0 92.0 3.0 0.62 2.75
DKMC_DD874 267.00 276.00 9.0 2.94 8.99 268.0 274.0 6.0 3.78 6.00
DKMC_DD875 384.13 389.00 4.9 3.58 4.86 385.0 388.3 3.3 4.77 3.26
DKMC_DD876 105.00 108.00 3.0 10.54 2.76 105.0 108.0 3.0 10.54 2.75
DKMC_DD877 232.00 242.12 10.1 2.23 9.99 239.0 242.1 3.1 4.69 3.08
DKMC_DD878 126.50 135.50 9.0 7.00 8.40 126.5 135.0 8.5 7.31 7.91
DKMC_DD879 223.00 230.88 7.9 3.67 7.86 224.0 230.9 6.9 3.91 6.86
DKMC_DD880 169.30 172.50 3.2 1.32 3.12 169.3 172.5 3.2 1.32 3.12
DKMC_DD881 273.97 278.00 4.0 4.36 4.02 274.0 278.0 4.0 4.36 4.02
DKMC_DD882 482.00 488.00 6.0 4.50 5.86 482.6 487.0 4.4 5.71 4.30
DKMC_DD883 244.00 247.02 3.0 2.22 2.99 244.0 247.0 3.0 2.22 2.99
DKMC_DD884 284.50 291.77 7.3 3.93 6.98 285.3 291.8 6.5 4.25 6.21
DKMC_DD885 339.00 347.00 8.0 1.58 7.98 343.6 347.0 3.4 2.06 3.39
DKMC_DD886 No Mineralization No Mineralization
DKMC_DD887 308.88 312.50 3.6 1.43 3.59 308.9 312.5 3.6 1.43 3.60
DKMC_DD888 260.00 271.51 11.5 4.35 10.71 260.0 271.5 11.5 4.35 10.70
DKMC_DD889 323.50 332.40 8.9 2.69 8.85 327.7 331.9 4.3 4.13 4.23
DKMC_DD890 160.00 163.00 3.0 0.18 2.97 160.0 163.0 3.0 0.18 2.97
DKMC_DD891 222.00 229.50 7.5 4.62 7.32 222.0 229.5 7.5 4.62 7.33
DKMC_DD892 364.20 367.50 3.3 3.99 3.13 364.2 367.5 3.3 3.99 3.13
DKMC_DD893 387.00 389.96 3.0 1.53 2.93 387.0 390.0 3.0 1.54 2.93
DKMC_DD894 1022.00 1026.78 4.8 3.66 4.69 1022.5 1026.8 4.3 3.93 4.20
DKMC_DD895 580.00 586.85 6.9 3.26 6.58 580.0 586.9 6.9 3.26 6.58
DKMC_DD896 341.50 346.84 5.3 3.23 5.24 342.0 346.8 4.8 3.23 4.75
DKMC_DD902 99.00 102.00 3.0 1.35 2.93 99.0 102.0 3.0 1.48 2.93
04 Oct 24
TSX: IVN
CA$20.52
+4.06%
04 Oct 24
OTCQX: IVPAF
US$15.13
+4.42%