Looking at what Ivanhoe (IVN.t) and area plays are doing in Mongolia. Friedland is pulling another huge play out of the hat,...and when the dust settles the gold production from this region will be stunning.
http://www.ivanhoe-mines.com/s/Default.asp
Ivanhoe Mines is an international mining company developing an important new discovery of gold and copper at the Turquoise Hill Project in Mongolia. The company produces LME Grade A copper from its Monywa joint venture in Myanmar, iron ore products from ABM Mining's Savage River mine and Port Latta pellet plant in Australia, and gold and silver from the Silver Hill Mine in South Korea and the Bakyrchik Gold Mine in Kazakhstan.
In July 2001, Ivanhoe Mines made a gold, copper and molybdenum discovery at the Turquoise Hill (Oyu Tolgoi) project located approximately 80 kilometres north of the Chinese border (at approximately the same latitude as Niagara Falls, on the Canada-US border, and the port of Marseille in the south of France). The mineralized zones identified to date, Southwest Oyu, South Oyu, Central Oyu and North Oyu, comprise a mineralized target containing gold, copper and molybdenum mineralization within an area measuring 3,000 metres by 2,000 metres.
An independent resource estimate was prepared on May 29, 2002, indicating that the Southwest Oyu Discovery Zone contains an Inferred Mineral Resource of 821 million tonnes grading 0.52 grams of gold per tonne and 0.38% copper, based on a cut-off grade of 0.30% copper equivalent. At a cut-off grade of 0.50% copper equivalent, there is now estimated to be 469 million tonnes grading 0.70 grams of gold per tonne and 0.48% copper, containing 10.6 million ounces of gold and almost 5.0 billion pounds of copper.
Ivanhoe holds a 100% interest in the Turquoise Hill project, subject to BHP Billiton's 2% royalty.
Elsewhere in Mongolia, a large team of geologists assembled by Ivanhoe has begun a comprehensive reconnaissance exploration program across the South Gobi region. Detailed geological mapping and geochemical and geophysical surveys have begun to define numerous high-quality drill targets, the first of which will begin to be tested this month at the Kharmagtai prospect, 120 kilometres north of Turquoise Hill. Ivanhoe now holds mineral rights to a total of approximately 50,000 square kilometres (19,300 square miles) in Mongolia, most of it covering key ground within the South Gobi porphyry belt.
In March, 2002, Ivanhoe began gold and silver production from the new Silver Hill (Eunsan) Mine in South Korea. At full commerical production, Silver Hill is expected to be mining and milling approximately 150 tonnes of ore per day, and producing up to 50,000 ounces of gold and 118,000 ounces of silver on an annual basis, for at least two years.
Ivanhoe Mines has a 70% interest in the Bakyrchik gold mine in Kazakhstan, one of the world's largest undeveloped gold deposits. The Bakyrchik Mine currently has modest gold production from the processing of near-surface oxide ores. Ivanhoe is also conducting exploration in Myanmar.
In Vietnam, the company is in an exploration joint venture with Olympus Pacific Minerals (CDNX:OYM).
In China, Ivanhoe Mines has the right to participate in Pacific Minerals Inc.'s (CDNX:PMZ) development of its 217 Gold Project in Inner Mongolia, the JBS Platinum Palladium Project in Yunnan Province. Ivanhoe also has a right of first refusal to participate in all new mineral projects discovered by Pacific Minerals in China. In each case, Ivanhoe will have the right to gain the majority interest in the property by advancing it to production. Further particulars are set out on Pacific's website at www.pacific-minerals.com.
Ivanhoe Mines is also the largest shareholder in Emperor Mines Limited, with an interest of 18.1%. Emperor owns and operates the Emperor Gold Mine in Fiji, which produced approximately 140,000 ounces in 1999.
Turquoise Hill (Oyu Tolgoi) Gold and Copper Project
The Turquoise Hill (Oyu Tolgoi) gold, copper and molybdenum project is located in the south Gobi Desert of Mongolia, approximately 560 km due south of Ulaanbaatar. Road access to the property follows a well-defined track directly south from Ulaanbaatar requiring 12 hours travel time. A landing strip on the project can accomodate small aircrafts. Rail servicelies 360 km east of the property at the main line between Ulaanbaatar and China. The Chinese Mongolian border sits 80 km south of the p...
Kharmagtai
The Kharmagtai exploration licence covers 67 square kilometres (26 sq. miles), approximately 120 kilometres north of Ivanhoe's Turquoise Hill project. Ivanhoe als o has additional exploration licences, covering approximately 6,530 square kilometres (2,520 sq. miles), in the immediate vicinity of the Kharmagtai licence. Kharmagtai is part of a highly mineralized area that includes the Turquoise Ridges (Ovoot Hyar) licence. Within these licences four copper-gold porphyry targets --- Kharmagta...
Shuteen
The Shuteen licence comprises 93 square kilometres (36 sq. miles), approximately 100 kilometres east of Kharmagtai. Other Ivanhoe exploration licences in the area surrounding the Shuteen licence cover an additional 6,300 square kilometres (2,400 sq. miles ). Exploration carried out by a private company between 1997 and 1999 included geological mapping, detailed PIMA analyses and stream and rock-chip geochemistry. No drilling was conducted due to a lack of funds. Rock-chip sampling of poorly-o...
Turquoise Ridges (Ovoot Hyar)
The Turquoise Ridges (Ovoot Hyar) licence covers 193 square kilometres (74 sq. miles), approximately 15 kilometres west of the company's Kharmagtai prospect. Ivanhoe owns 80% of the Turquoise Ridges project. Gold- and copper-mineralized porphyritic intrus ions and structures appear to be widespread throughout the licence area. In 1996, the previous licence holder, Quincunx Gold Exploration Ltd. (QGX), undertook an extensive program of trenching and grab and rock-chip sampling. Grab samples of mi...
Oyut Ulaan
The Oyut Ulaan Project is located in the southeastern Gobi region and comprises two targets --- Oyut Ulaan and Stariy. The Oyu Ulann target, a mineralized tourmaline breccia pipe complex situated in the southwest part of t he licence, has a surface area of 2.5 square kilometres. Intense, secondary copper staining occurs within and at the south margin of the most prominent pipe. Peripheral sheeted quartz-tourmaline chalcopyrite veins occur northeast and southwest of the pipe
Chandman Uul
The Chandrnan Uul Project comprises a large, copper-bearing, magnetite skarn. The skarn is massive and outcrops extensively as a prominent line of hills over a distance of approximately three kilometres. The skarn is associa ted with the contact of Proterozoic limestones and Devonian granodioritic intrusions. Assays for 55 reconnaissance rock-chip samples reported high copper (26 samples ranging between 1-8%) and anomalous gold, with a maximum of 2.3 g/t. No molybdenum ass
Oyut Ovoo
The Oyut Ovoo Project is centred on a group of prominent hills comprising copper-bearing magnetite skarns and hydrothermal breccia pipes hosted in Permian granitoid stocks. The mineralized zone has a surface area of approximately four square kilometres an d is surrounded by recent alluvium. Assays from 43 reconnaissance rock-chip samples reported anomalous values for copper (17 samples ranging between 1-10%), gold (nine samples ranging between 0.3-0.7 g/t) and molybdenum (16 samples ranging b...
Saran Uul
Saran Uul is a known porphyry copper system hosted in Upper Carboniferous diorites and syenites. A stockwork quartz-vein zone target has surface dimensions of 1.5 kilometres by 700 metres. The terrain is flat to undulating a nd much of the area is weathered and leached. Assays from 54 reconnaissance rock-chip samples were highly anomalous in copper (22 samples ranging between 0.1-0.5% and 11 samples with 0.5-5%), gold (six samples ranging between 0.5-4.9 g/t) and molybdenu |
