Monday, 29th November 2004 (3032 views)

Ivanhoe Mines has announced that it has discovered four significant, gold-rich targets in its newly named Bronze Fox district.

The site in southern Mongolia, is situated 140 kilometres northeast of Ivanhoe's world class Oyu Tolgoi copper-gold project.

Latest discoveries are the result of continuous exploration efforts in Mongolia, helping to create a whole new district full of uncharacteristic gold-copper grades.

Ivanhoe has a 100 per cent interest in the Bronze Fox district, as well as most of the ground contained over this gold belt.

Executive vice-president for Exploration, Douglas Kirwin, commented: "The large numbers of rock samples with strong gold and copper values collected throughout the district are indicative of a large and highly-mineralised gold and copper porphyry system.

"The presence of sheeted quartz veins and unidirectional solidification textures (USTs), as well as tourmaline veins and breccias with highly significant gold and copper values, demonstrate that the upper mineralised parts of the porphyry intrusions have been preserved."

Ivanhoe owns or controls exploration rights covering approximately 118,000 square kilometres in central and southern Mongolia.

 

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