Ivanhoe Electric and BHP Exploration Alliance Advance Exploration Activities in the Southwest United States
Ivanhoe Electric (NYSE American: IE) and BHP's Exploration Alliance has initiated its first deep-penetrating geophysical survey in Arizona using a new-generation Typhoon™ system. The Alliance, which received an initial $15 million funding from BHP, is exploring six designated Areas of Interest (AOI) across Arizona, New Mexico, and Utah for hidden mineral deposits.
The exploration activities include reconnaissance work, geochemical sampling, and detailed geological mapping. Over 5,600 line-kilometers of airborne magnetic surveying and 1,500 line-kilometers of hyperspectral surveying have been completed. The Alliance has staked over 110 square kilometers of unpatented mining claims across Arizona and New Mexico.
The initial Typhoon™ survey is being conducted along a major porphyry copper trend with significant production history. Any Joint Venture established within these areas will operate under a 50/50 ownership structure. Once the survey is complete, Computational Geosciences Inc. will process the results to develop the Alliance's first drill targets.
Ivanhoe Electric (NYSE American: IE) e l'Exploration Alliance di BHP hanno avviato il primo sondaggio geofisico a profonde penetrazioni in Arizona utilizzando un sistema di nuova generazione Typhoon™. L'alleanza, che ha ricevuto un finanziamento iniziale di 15 milioni di dollari da BHP, sta esplorando sei Aree di Interesse designate (AOI) in Arizona, New Mexico e Utah per scoprire depositi minerari nascosti.
Le attività di esplorazione includono lavori di ricognizione, campionamenti geochimici e mappature geologiche dettagliate. Sono stati completati oltre 5.600 chilometri di linee di indagine magnetica aerea e 1.500 chilometri di indagine iperspettrale. L'alleanza ha registrato oltre 110 chilometri quadrati di rivendicazioni minerarie non patentate in Arizona e New Mexico.
Il sondaggio iniziale Typhoon™ viene condotto lungo una importante tendenza del rame porfirico con una storia produttiva significativa. Qualsiasi Joint Venture stabilita in queste aree opererà con una struttura di proprietà 50/50. Una volta completato il sondaggio, la Computational Geosciences Inc. elaborerà i risultati per sviluppare i primi obiettivi di perforazione dell'alleanza.
Ivanhoe Electric (NYSE American: IE) y la Alianza de Exploración de BHP han iniciado su primera encuesta geofísica de penetración profunda en Arizona utilizando un sistema de nueva generación Typhoon™. La Alianza, que recibió un financiamiento inicial de 15 millones de dólares de BHP, está explorando seis Áreas de Interés designadas (AOI) en Arizona, Nuevo México y Utah en busca de depósitos minerales ocultos.
Las actividades de exploración incluyen trabajos de reconocimiento, muestreo geoquímico y mapeo geológico detallado. Se han completado más de 5,600 kilómetros lineales de encuestas magnéticas aéreas y 1,500 kilómetros lineales de encuestas hiperespectrales. La Alianza ha reclamado más de 110 kilómetros cuadrados de reclamos mineros no patentados en Arizona y Nuevo México.
La encuesta inicial de Typhoon™ se está llevando a cabo a lo largo de una importante tendencia de cobre porfirico con una historia de producción significativa. Cualquier Joint Venture establecida en estas áreas operará bajo una estructura de propiedad 50/50. Una vez que se complete la encuesta, Computational Geosciences Inc. procesará los resultados para desarrollar los primeros objetivos de perforación de la Alianza.
Ivanhoe Electric (NYSE American: IE)와 BHP의 탐사 동맹이 아리조나에서 새로운 세대의 Typhoon™ 시스템을 사용하여 첫 번째 깊이 탐사 지구 물리학적 조사를 시작했습니다. BHP로부터 1천5백만 달러의 초기 자금을 받은 이 동맹은 아리조나, 뉴멕시코, 유타의 6개 지정 관심 지역(AOI)을 탐사하여 숨겨진 광물 매장지를 찾고 있습니다.
탐사 활동에는 정찰 작업, 지화학 샘플링 및 상세한 지질 지도 작성이 포함됩니다. 5,600킬로미터 이상의 항공 자기 조사와 1,500킬로미터 이상의 하이퍼스펙트럴 조사가 완료되었습니다. 이 동맹은 아리조나와 뉴멕시코에서 110제곱킬로미터 이상의 비특허 광산 청구를 등록했습니다.
초기 Typhoon™ 조사는 중요한 포철 동향을 따라 진행되며 상당한 생산 이력이 있습니다. 이러한 지역 내에서 설립된 모든 합작 투자는 50/50 소유 구조 하에 운영됩니다. 조사가 완료되면 Computational Geosciences Inc.가 결과를 처리하여 동맹의 첫 번째 시추 목표를 개발할 것입니다.
Ivanhoe Electric (NYSE American: IE) et l'Alliance d'Exploration de BHP ont lancé leur première enquête géophysique à pénétration profonde en Arizona en utilisant un système de nouvelle génération Typhoon™. L'alliance, qui a reçu un financement initial de 15 millions de dollars de BHP, explore six Zones d'Intérêt (AOI) désignées à travers l'Arizona, le Nouveau-Mexique et l'Utah à la recherche de dépôts minéraux cachés.
Les activités d'exploration comprennent des travaux de reconnaissance, un échantillonnage géochimique et une cartographie géologique détaillée. Plus de 5 600 kilomètres linéaires d'enquête magnétique aérienne et 1 500 kilomètres linéaires d'enquête hyperspectrale ont été complétés. L'alliance a revendiqué plus de 110 kilomètres carrés de demandes minières non brevetées à travers l'Arizona et le Nouveau-Mexique.
Le premier sondage Typhoon™ est réalisé le long d'une importante tendance de cuivre porphyrique avec une histoire de production significative. Toute co-entreprise établie dans ces zones fonctionnera sous une structure de propriété 50/50. Une fois l'enquête terminée, Computational Geosciences Inc. traitera les résultats pour développer les premiers objectifs de forage de l'alliance.
Ivanhoe Electric (NYSE American: IE) und die Exploration Alliance von BHP haben ihre erste tiefenwirksame geophysikalische Untersuchung in Arizona mit einem hochmodernen Typhoon™-System eingeleitet. Die Allianz, die eine anfängliche Finanzierung von 15 Millionen Dollar von BHP erhalten hat, erkundet sechs festgelegte Interessengebiete (AOI) in Arizona, New Mexico und Utah auf der Suche nach versteckten mineralischen Ablagerungen.
Die Erkundungsaktivitäten umfassen Erkundungsarbeiten, geochemische Probenahme und detaillierte geologische Kartierung. Über 5.600 Linienkilometer Luftmagnetikmessungen und 1.500 Linienkilometer hyperspektrale Untersuchungen wurden abgeschlossen. Die Allianz hat über 110 Quadratkilometer nicht patentierter Bergbauansprüche in Arizona und New Mexico angemeldet.
Die anfängliche Typhoon™-Untersuchung wird entlang eines bedeutenden Porphyrkupfer-Trends mit einer erheblichen Produktionserfahrung durchgeführt. Jede Joint Venture, die in diesen Bereichen gegründet wird, wird unter einer 50/50-Eigentumsstruktur betrieben. Nach Abschluss der Untersuchung wird die Computational Geosciences Inc. die Ergebnisse verarbeiten, um die ersten Bohrziele der Allianz zu entwickeln.
- Strategic partnership with major mining company BHP secured with $15 million initial funding
- 50/50 ownership structure in potential joint ventures
- Extensive exploration progress with 5,600 line-km of magnetic and 1,500 line-km of hyperspectral surveying completed
- Successful acquisition of 110 square kilometers of mining claims
- None.
Insights
A New Generation Typhoon™ Unit Dedicated to the Exploration Alliance is Conducting its First Survey in Arizona
Phoenix, Arizona--(Newsfile Corp. - January 7, 2025) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric") Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to provide an update on the activities of the BHP Exploration Alliance in the Southwest U.S. (the "Alliance").
Mr. Friedland commented: "The Basin and Range province of the Southwest U.S. remains one of the most promising frontiers for porphyry exploration. Together with BHP, we have deployed a new generation Typhoon™ system to look for potential world-class deposits that are hidden from the surface by younger cover rocks."
Mr. Melvin commented: "We are pleased with the rapid progress made by our exploration alliance with BHP and look forward to completing our first Typhoon™ survey at an Area of Interest located in Arizona. Our alliance is proving to be an effective platform to pursue exploration opportunities that are well-suited for Ivanhoe Electric's exploration technologies, looking deep below the surface for new sources of copper and other critical metals in the Southwest U.S."
The Alliance is focused on exploring mineral deposits hidden under post-mineral cover. It received an initial funding commitment of
The Alliance is actively exploring six designated Areas of Interest ("AOI") within Arizona, New Mexico, and Utah. Any Joint Venture that is agreed to be established within these areas will operate under a 50/50 ownership structure.
The first Typhoon™ survey of the Alliance has commenced, exploring a major porphyry copper trend in Arizona
A new-generation Typhoon™ unit was mobilized in early December to commence the Alliance's first deep-penetrating geophysical survey. The initial Typhoon™ survey is being completed along a well-known and major porphyry copper trend, with a significant production history and a large endowment of copper in current reserves and resources in the region.
During the first phase of the Alliance, exploration teams have been deployed to advance reconnaissance work, geochemical sampling, and detailed geological mapping programs across the AOIs in Arizona, New Mexico, and Utah. In addition, over 5,600 line-kilometers of airborne magnetic surveying and 1,500 line-kilometers of hyperspectral surveying have been completed so far.
The results of exploration fieldwork and three-dimensional inversion of geophysical data were used to inform subsequent land acquisition and Typhoon™ planning. So far, over 110 square kilometers of unpatented mining claims have been staked across Arizona and New Mexico.
Once the initial survey is complete, the Typhoon™ results will be processed by Computational Geosciences Inc. The resulting data will then be integrated with other datasets to develop the Alliance's first drill targets.
Photo 1. The Ivanhoe Electric and BHP Exploration Alliance new-generation Typhoon™ unit arrived in early December to one of the six AOIs to commence the Alliance's first deep-penetrating geophysical survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236199_148adc849408e993_002full.jpg
Photo 2. From left to right, Rafael Romano, BHP Principal Geoscientist; Dan Koning, Ivanhoe Electric Senior Geologist; Robert Lee, BHP Principal Geoscientist and Alliance Technical Committee member; and Andrea Cade, P.Geo., Ivanhoe Electric Manager, Technical Reporting and Alliance Management Committee member, observing outcrops during a site visit to one of the six AOIs.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236199_148adc849408e993_003full.jpg
Qualified Person
Disclosures of a scientific or technical nature included in this news release, including the sampling, analytical and technical data underlying the information, have been reviewed, verified and approved by Shawn Vandekerkhove, P.Geo., who is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the U.S. Securities and Exchange Commission and by Canadian National Instrument 43-101. Mr. Vandekerkhove is an employee of Ivanhoe Electric.
About Ivanhoe Electric
We are a U.S. company that combines advanced mineral exploration technologies with electric metals exploration projects predominantly located in the United States. We use our accurate and powerful Typhoon™ geophysical surveying system, together with advanced data analytics provided by our subsidiary, Computational Geosciences Inc., to accelerate and de-risk the mineral exploration process as we seek to discover new deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of critical metals. Our mineral exploration efforts focus on copper as well as other metals including nickel, vanadium, cobalt, platinum group elements, gold and silver. Through the advancement of our portfolio of electric metals exploration projects, headlined by the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah, as well as other exploration projects in the United States, we intend to support United States supply chain independence by finding and delivering the critical metals necessary for the electrification of the economy. We also operate a 50/50 joint venture with Saudi Arabian Mining Company Ma'aden to explore for minerals on ~48,500 km2 of underexplored Arabian Shield in the Kingdom of Saudi Arabia.
Website: www.ivanhoeelectric.com
About BHP
BHP is a world-leading resources company. We work in more than 90 locations worldwide and our products are sold globally. We've positioned our business to support the megatrends shaping our world. Iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Copper for renewable energy and potash to support more sustainable farming. A resource mix for today – and critical to the future.
Website: www.BHP.com
Contact Information
Mike Patterson
Vice President, Investor Relations and Business Development
Email: mike@ivnelectric.com
Phone: 1-480-601-7878
Follow us on X
Ivanhoe Electric's Executive Chairman Robert Friedland: @robert_ivanhoe
Ivanhoe Electric: @ivanhoeelectric
Ivanhoe Electric's investor relations website located at www.ivanhoeelectric.com should be considered Ivanhoe Electric's recognized distribution channel for purposes of the Securities and Exchange Commission's Regulation FD.
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Electric, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Electric's current expectations regarding future events, performance and results and speak only as of the date of this news release.
Such statements in this news release include, without limitation statements regarding the progress and success of the exploration activities by the BHP Alliance; the continued use of dedicated new-generation Typhoon™ system for the Alliance to survey AOIs and the results of any survey work.
Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to significant risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including any inability to negotiate and sign mutually agreeable definitive agreements; any inability to satisfy all applicable closing conditions; changes in the prices of copper or other metals Ivanhoe Electric is exploring for; the results of exploration and drilling activities and/or the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations; the final assessment of exploration results and information that is preliminary; the significant risk and hazards associated with any future mining operations, extensive regulation by the U.S. government as well as local governments; changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with Ivanhoe Electric to perform as agreed; and the impact of political, economic and other uncertainties associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the global economy. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors described in Ivanhoe Electric's Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission at www.sec.gov.
No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this news release. Ivanhoe Electric cautions you not to place undue reliance on these forward-looking statements. Subject to applicable securities laws, Ivanhoe Electric does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release, and Ivanhoe Electric expressly disclaims any requirement to do so.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236199
FAQ
What is the initial funding commitment from BHP for the Ivanhoe Electric (IE) exploration alliance?
How many Areas of Interest (AOI) is the IE-BHP alliance currently exploring?
What ownership structure will be implemented for joint ventures in the IE-BHP alliance?
How much land has Ivanhoe Electric (IE) staked for mining claims in Arizona and New Mexico?
What type of surveying has been completed by the IE-BHP alliance as of January 2025?
