The Kamoa North prospect area has delivered an “unprecedented” 22.3-m intersection of 13.05% copper in a thick, flat-lying deposit, sending Canada’s Ivanhoe Mines share price up 10% on the TSX on Wednesday.
The new drill hole at the Democratic Republic of Congo-based project includes grades of up to 40% copper and is within 190 m of the surface. At a cut-off of 5% copper, the intersection is 15.92% copper over 16.8 m. Using a cut-off grade of 1%, the intersection is 10.29% copper over 29.4 m.