Ivanhoe finds copper, gold and uranium systems at Australia projectadmin
Ivanhoe Mines said Wednesday it has discovered a series of related iron oxide copper gold systems, some of which have associated uranium, at its Cloncurry project in Australia.
The discoveries of copper, gold and uranium mineralization were made during exploration activities at the Swan, Amethyst Castle, Castle Mount and Metal Ridge prospects in northwestern Queensland.
“Copper and gold mineralization discovered by Ivanhoe in a 2005 drill program at the Swan Deposit has been expanded by the current drilling program,” the company said in a release.
A review of exploration data has also highlighted the potential for “significant uranium mineralization” in the northern part of the 1,450-square-kilometre Cloncurry project.
“Based on these very positive results, Ivanhoe intends to increase its exploration efforts at Cloncurry in 2007 to include detailed gravity surveys, closely-spaced diamond drilling to define a copper-gold resource at Swan, and an aggressive reconnaissance drilling program to delineate additional mineralization at the highly prospective Amethyst Castle and Metal Ridge targets,” the company added.
Prior to the release, Ivanhoe shares rose two cents to $10.80 on the Toronto Stock Exchange.
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