Importantly, Ivanhoe said it is in discussions with “multiple” potential strategic investors, including major international corporations and sovereign wealth funds, regarding matters “including, but not limited to, fast-tracking the development of the Western Foreland.” The third goal of the company’s 2024 exploration program is to continue to evaluate high-priority targets across the Forelands for additional tier-one, high-grade copper discoveries. Ivanhoe noted that the expanded 2024 exploration program targets expansion of the Kitoko copper discovery with additional drill rigs, adding that the company will also advance its understanding of the Makoko and Kiala deposits. “Our exploration model has been disrupted by the Kitoko discovery, significantly increasing the proportion of the Western Foreland that is prospective for world-class, high-grade, sedimentary copper systems,” it added. The company said the Kitoko discovery confirms the presence of a “globally significant” high-grade copper mineralizing system. ( Kitco News) - Copper producer Ivanhoe Mines (TSX: IVN) announced today that the company is quadrupling its 2024 exploration budget to $90 million, with exploration activities focused on the Western Foreland in the Democratic Republic of the Congo (DRC).Īccording to Ivanhoe, the budget increase follows recent announcements of the high-grade Kitoko copper discovery, as well as the maiden mineral resource estimates for the Makoko and Kiala high-grade copper discoveries in the Western Forelands. Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.

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