Claude check this out part of a NR from ETG and IVN:
ivanhoemines.com
The northern-most 1.6-kilometre section of the
IP anomaly on the Oyu Tolgoi property represents the gold-rich, high-grade-copper Hugo
North porphyry deposit “The new IP survey indicates that the potential for further expansion of the Hugo North coppergold
deposit is significant,” said Mr. Friedland. “Given these results, we plan to systematically
drill-test the anomaly.”
The IP anomaly, which is approximately 350 metres wide at the northern end of the Oyu Tolgoi
property, narrows in width to approximately 150 metres approximately 500 metres north of the
Oyu Tolgoi property boundary. The depth to the top of the IP target is approximately 800
metres below surface for the first 400 metres north of the property boundary. Continuing
northward, the depth to the top of anomaly appears to gradually increase.
The continuation of the IP anomaly under the younger granitic rocks outcropping at the
northern boundary of the Oyu Tolgoi block indicates that the northern Boundary Fault,
previously thought to cut off the northern extension of the Hugo North deposit, is a shallowdipping
feature that might not extend to the depth of the Hugo North deposit.>>>>
<<<To date, the
deep drilling has extended the high-grade copper and gold mineralization in Hugo North to
within 300 metres of the joint-venture boundary.
Ivanhoe’s current drilling program at Hugo North includes two deep-hole rigs drilling 150-metre
step-out holes on the northern strike extension, utilizing a navi-drill system to fan multiple holes
off a single pilot hole. In addition, six rigs are drilling in-fill holes to bring the Hugo North
deposit from a drill-inferred to a drill-indicated status and one rig is drilling geotechnical holes
at right angles to the northerly trend of the deposit to verify the deposit’s favourable caving
characteristics. Additional deep-hole drill rigs have been secured and are being mobilized to
site.
Hugo North is part of the 2.8-kilometre-long Hugo Dummett Deposit, which in turn is part of the
now 5.8-kilometre-long chain of deposits discovered to date by Ivanhoe at Oyu Tolgoi. Hugo
North contains what is believed to be the highest-grade copper mineralization in a porphyry
setting anywhere in the world. Ivanhoe’s recent drilling has extended the open-ended Hugo
North deposit to at least 1.6 kilometres.
Ivanhoe has the right to earn a participating interest of 80% in all minerals extracted below a
sub-surface depth of 560 metres on the Ivanhoe-Entrée Gold joint-venture property, and a
70% interest in all minerals extracted from surface to a depth of 560 metres, by spending
US$35 million on exploration and/or development of the property over eight years. Ivanhoe is
required to spend a minimum of US$3 million during the first year in exploration, consisting of
US$500,000 on geophysics and US$2.5 million on drilling. This US$3 million investment will
secure for Ivanhoe a long-term option to utilize any and all rights Entrée may have for the
surface of the optioned property to construct mine buildings, tailings ponds, waste dumps,
power lines and roads, providing that Ivanhoe first completes condemnation drilling to ensure
that there is no economic mineralization below the surface of the areas directly affected. With
the expenditure of US$5 million in the first year, Ivanhoe will have the right to continue earning
its interest in the joint-venture property.
Additional IP Anomalies Identified
Approximately 1,800 metres north of the joint-venture property boundary and 900 metres to the
east of the Hugo North trend anomaly, the IP surveying also detected a weak, semi-circular IP
anomaly that may represent a very deep target down-dip of the main Hugo North anomaly.
Approximately two kilometres west-northwest of the Hugo North deposit, a large anomaly also
has been outlined, measuring 2.2 kilometres by 500 metres. Preliminary surveys indicate that
the depth to the top of this feature appears to be approximately 300 metres at the southern
end and 450 metres at the northern end. Depth extent of this feature appears good. Another
smaller anomaly has been defined mid-way between this feature and the Hugo North trend
anomaly. The depth to top of this anomaly appears to be approximately 300 metres, but depth
extent appears more limited.
Resistivity data indicate that both these IP anomalies are related to high-resistivity features,
possibly porphyry intrusive rocks at depth much like those associated with the gold-rich
3
porphyries found on the Hugo North trend anomaly. Planned detailed section work in this area
will better define these targets prior to drilling. The fact that these two anomalies parallel the
trend of the Hugo North anomaly is encouraging since Oyu Tolgoi is a structurally-controlled
deposit and it is common to find smaller, but significant, flanking mineralized structures
adjacent to the main deposit.>>>>>
Seems like richness in grade increases as IVN approaches ETG but maybe the size decreases?
Also seems like with 6 drill rigs going that IVN should have news on holes drilled even closer to ETG anytime.
If drilling is successful will ETG be a repeat of IVN?
Tom |
