Ivanhoe Electric's Typhoon(TM) Technology Quickly Proves its Power with Discovery in Saudi Arabia

Rhea-AI Summary

Ivanhoe Electric (NYSE: IE) has announced significant drilling results from its 50/50 joint venture with Ma'aden in Saudi Arabia. The company's TyphoonTM geophysical surveying technology has led to the discovery of copper mineralization near Ma'aden's Al Amar mine.

Initial drilling at the Umm Ad Dabah prospect has yielded promising results, with three holes intersecting copper mineralization to depths beyond 700 meters. Notable intersections include 13.1 meters @ 1.31% copper and 4.5 g/t silver from 717.9 meters in hole UAD-005, and 5.9 meters @ 0.79% copper and 1.9 g/t silver from 374.5 meters in UAD-006.

The Joint Venture has completed TyphoonTM surveys covering 238 square kilometers, with three units currently active in Saudi Arabia. The mineralized system extends over 250 meters in strike length and 400 meters down dip, remaining open for expansion.

Positive

• Discovery of significant copper mineralization with high-grade intersections (13.1m @ 1.31% Cu)
• Successful deployment of three TyphoonTM units demonstrating effective exploration technology
• Large exploration coverage of 238 square kilometers completed
• Joint venture with major mining company Ma'aden providing access to 48,500 sq km of prospective land

Negative

• Mineralized system currently to 250 meters strike length
• Deep mineralization starting at 200-1000 meters requires costly deep drilling

Insights

Mining Technology Expert

The deployment of TyphoonTM technology in Saudi Arabia represents a breakthrough in mineral exploration efficiency. The system's ability to conduct deep-penetrating surveys covering 76 square kilometers in just months, with real-time processing of terabytes of data, drastically reduces traditional exploration timelines. The discovery of copper mineralization at depths exceeding 700 meters, particularly the 13.1-meter intersection grading 1.31% copper, validates the technology's precision in identifying deep mineral deposits.

The combination of TyphoonTM with CGI's advanced algorithms introduces a paradigm shift in exploration methodology. The 24-hour turnaround for 3D inversion results represents a 10-20x improvement over conventional processing times, significantly accelerating the exploration cycle and reducing costs. This technological advantage could revolutionize the exploration industry's approach to identifying deep mineral deposits.

Metals & Mining Analyst

The initial drilling results from the Ma'aden joint venture demonstrate significant commercial potential. The discovery of high-grade copper mineralization, particularly the 13.1-meter intersection at 1.31% copper, is economically promising given current copper market dynamics. The mineralization's characteristics - semi-massive to massive sulfides with precious metal credits - suggest potential for a commercially viable operation.

The 48,500 square kilometer exploration area represents substantial upside potential. The successful deployment of three TyphoonTM units across this vast territory, combined with the proven accuracy of the technology, positions Ivanhoe Electric favorably for additional discoveries. This could significantly impact the company's market valuation, particularly if similar or larger deposits are identified in the broader exploration area.

Geophysics Specialist

The technical achievement at Umm Ad Dabah is remarkable from a geophysical perspective. The TyphoonTM system's ability to detect and accurately map mineralization at depths exceeding 700 meters demonstrates exceptional sensitivity and precision. The correlation between the chargeability anomalies and actual mineralization validates the system's effectiveness in identifying sulfide-rich zones.

The 4.5-kilometer length of the identified anomalies, with the southern anomaly extending beyond 1,000 meters depth, suggests potential for a significant mineral system. The rapid integration of machine learning for quality control and the ability to process complex 3D inversions within 24 hours represents a quantum leap in exploration technology, potentially reducing exploration risks and costs substantially.

• Drilling Intersected Copper Mineralization in Three Holes to a Depth Beyond 700 Meters and Remains Open

• The Joint Venture Has Three Typhoon^TM Units Active in Saudi Arabia

Riyadh, Saudi Arabia--(Newsfile Corp. - January 13, 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 initial drill results from the Company's 50/50-owned joint venture with Saudi Arabian Mining Company Ma'aden ("Ma'aden") (Saudi Stock Exchange Tadawul: 1211). The Joint Venture's initial drill program focused on the Umm Ad Dabah prospect, near Ma'aden's existing Al Amar gold-copper-zinc mine. The Joint Venture is using Ivanhoe Electric's advanced Typhoon^TM geophysical surveying systems and Computational Geosciences Inc.'s ("CGI") industry-leading inversion software to guide exploration activities.

Mr. Friedland commented: "The rapid drill results achieved by our Joint Venture with Ma'aden illustrate the powerful capabilities of Ivanhoe Electric's technology-driven exploration platform. The power and accuracy of our Typhoon^TM geophysical surveying technology and Computational Geosciences' software and algorithms enabled us to discover quickly a new copper zone near the Al Amar district. Imagine what would happen if we took the power of our technologies to explore all of Saudi Arabia for copper, gold, nickel, lithium and other metals."

Mr. Melvin commented: "Our Joint Venture has the right people and technologies to explore rapidly and accurately for new sources of copper, gold, and other minerals at depths exceeding one kilometer. We are excited by the initial results at Umm Ad Dabah."

Ma'aden CEO Bob Wilt commented: "Ivanhoe Electric's Typhoon^TM technology has been a significant asset to our exploration program and these initial surveys and drill results demonstrate that these cutting-edge technologies are the right tools to unlock the vast mineral potential of the Kingdom."

Typhoon^TM and CGI technologies allow for successful, rapid, large-scale and deep-penetrating geophysical surveys

The Joint Venture's first Typhoon^TM survey covered 76 square kilometers near Ma'aden's Al Amar gold-copper-zinc mine. It was completed in March 2024. Subsequent Typhoon^TM surveys have covered an additional 162 square kilometers of the Al Amar exploration licenses.

Ivanhoe Electric's 94%-owned subsidiary, Computational Geosciences Inc., is headquartered in Vancouver, Canada, near the University of British Columbia. CGI offers world class geophysical data processing capabilities to model a broad range of surveys in three dimensions. The world-leading performance of its superior algorithms is driven by adaptive meshes and the ability to identify relevant structures in high resolution to support geological interpretation and drill hole targeting. Through advanced research and development, CGI uses machine-learning methods to develop innovative quality assurance and quality control tools that have been fully integrated with the Typhoon^TM system.

These tools have revolutionized workflow efficiency, enabling CGI to complete tasks that previously took weeks in just minutes. Importantly, CGI is now able to deliver complex three-dimensional inversion results within 24 hours of receiving terabytes of raw data from Typhoon^TM geophysical surveys.

The image below highlights the first three areas quickly identified for drilling by the Joint Venture team, using Typhoon^TM and CGI. The Joint Venture team will be seeking similar and larger anomalies as exploration activities expand across the 48,500 square kilometers of prospective land included in the Joint Venture.

Figure 1. Plan view map of the Umm Ash Shalahib license area, showing Typhoon^TM chargeability anomalies at Umm Ad Dabah, Area B, and Area C.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236905_5acc114c146e5bdd_001full.jpg

Copper mineralization intersected at Umm Ad Dabah associated with significant Typhoon^TM anomaly

The Umm Ad Dabah prospect is located 6 kilometers to the northeast of Ma'aden's Al Amar Mine. The prospect was identified during the initial 76 square kilometer Typhoon^TM survey. CGI rapidly processed and inverted the Typhoon^TM geophysical data, identifying two significant chargeability anomalies that span approximately 4.5 kilometers in length. The southern anomaly, beginning around 200 meters below the surface and extending beyond 1,000 meters in depth, has a strike length of 1.8 kilometers (Figure 2).

Figure 2. Cross-section through Umm Ad Dabah, looking west, showing the southern Typhoon^TM chargeability anomaly, the location of Joint Venture drill hole collars, their traces, and total sulfide minerals abundance.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236905_5acc114c146e5bdd_002full.jpg

Exploration drilling commenced in August 2024, with a total of 5,490 meters drilled across eight completed holes (Figure 2). Three of the drill holes intersected copper mineralization in the southern anomaly, including:

• Hole UAD-005: 13.1 meters @ 1.31% copper and 4.5 grams per tonne of silver from 717.9 meters

• Hole UAD-006: 5.9 meters @ 0.79% copper and 1.9 grams per tonne of silver from 374.5 meters

Mineralization is present as semi-massive to massive accumulations of precious metal-bearing iron and copper sulfides hosted in altered volcanic and volcaniclastic rocks. Drilling to date has defined a mineralized system extending over 250 meters in strike length and 400 meters down dip.

Photo 1. Drill core from discovery hole UAD-005 at Umm Ad Dabah from 725.7 to 729.1 meters showing semi-massive to massive brassy pyrite (an iron sulfide mineral) and brassy-yellow chalcopyrite (a copper sulfide mineral that is approximately 35% copper by weight) detected by Typhoon^TM.​

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236905_5acc114c146e5bdd_003full.jpg

2025 exploration activities will focus on Al Amar district, Wadi Bidah, and Bir Umq license areas

Drilling will continue in the Al Amar Belt to explore for additional accumulations of massive sulfide mineralization, guided by results from an ongoing Typhoon^TM survey and receipt of outstanding assays. Drilling has now moved to Areas B and C south of the Al Amar Mine (Figure 1).

There are three Typhoon^TM systems operating in Saudi Arabia. Two units in the Al Amar Belt, and the third unit at the Gehab prospect in the Wadi Bidah Belt.

Figure 3. Plan view map of southwest Saudi Arabia, showing the Umm Ash Shalahib, Al Amar, Wadi Bidah, and Bir Umq license areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236905_5acc114c146e5bdd_004full.jpg

Highlighted new drill intercepts from Umm Ad Dabah at the Umm Ash Shalahib exploration license.

DRILL HOLE	LOCATION	FROM (m)	TO (m)	INTERVAL LENGTH (m)	COPPER (%)	SILVER (g/t)
UAD-005	Umm Ad Dabah	699.0	704.0	5.0	0.67	3.4
	AND	717.9	731.0	13.1	1.31	4.5
UAD-006	Umm Ad Dabah	344.6	347	2.4	0.51	1.0
	AND	351.0	353.2	2.2	0.41	0.8
	AND	374.5	380.4	5.9	0.79	1.9
* Reported intervals are calculated at a cut-off grade of 0.3% copper.
*True width is approximately 50% of interval length.
*Some rounding errors may occur.

 

Photo 2. Typhoon^TM deployed on the Umm Ash Shalahib exploration license.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3868/236905_5acc114c146e5bdd_005full.jpg

Other Technical Information

The Joint Venture employs a comprehensive industry standard Quality Assurance/Quality Control ("QA/QC") program. PQ, HQ, and NQ diamond drill core is cut lengthwise into 2 halves, 1/2 is sent to for assay, and 1/2 is left behind in a secure facility for future assay verification.

The Joint Venture uses ALS Minerals Laboratory in Jeddah, Saudi Arabia. This laboratory operates in accordance with ISO/IEC 17025. Gold is assayed by a 50 g fire assay with an atomic absorption finish. An initial multi-element suite including copper, molybdenum, silver, and additional elements are analysed by four-acid digestion with an ICP-MS finish. All samples with copper values over 10,000 ppm and gold greater than 10 ppm are subjected to an overlimit method for higher grades, which also uses a four-acid digest with an ICP-ES finish, and fire assay with gravimetric finish. Certified reference materials, blanks, and duplicates are randomly but consistently inserted at the geologist's discretion and QA/QC geologist's approval into the sample stream to control laboratory performance.

Qualified Persons

Disclosures of a scientific or technical nature included in this news release have been reviewed, verified and approved by Charles N. Forster, P.Geo., and Mark Gibson, P.Geo., both who are Qualified Persons 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. Forster is a Senior Advisor to Ivanhoe Electric and Mr. Gibson is Chief Geophysics Officer 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^TM 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 Ma'aden

Ma'aden is the largest multi-commodity mining and metals company in the Middle East and among the fastest-growing mining companies in the world, with revenues of SAR 40.2 billion (US$10.7 billion) in 2022. Ma'aden is developing the mining industry into the third pillar of the Saudi economy in line with Vision 2030 and aims to be a role model in responsible and sustainable operations. Ma'aden operates 17 mines and sites, has 6,000+ direct employees and exports products to over 30 countries. Ma'aden is embarking on massive growth over the next 18 years across phosphate, aluminum, gold, copper and new minerals. Ma'aden is also Ivanhoe Electric's second largest stockholder holding approximately 9.9% of the currently issued common stock.

Website https://www.maaden.com.sa/

Contact Information

Mike Patterson
Vice President, Investor Relations and Business Development
Email: mike@ivnelectric.com
Phone: 1-480-601-7878

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Ivanhoe Electric's Executive Chairman Robert Friedland: @robert_ivanhoe

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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 timing and results of drilling activities and assays, continued drilling at Umm Ad Dabah and in the Al Amar district, the continued use of two Typhoon^TM units in the Al Amar Belt and one Typhoon^TM unit at the Gehab prospect in the Wadi Bidah Belt, the functioning of our technology, CGI's ability to continue to advance data processing capabilities, and other planned or potential developments in the businesses of Ivanhoe Electric.

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/236905

FAQ

What are the key copper drilling results from Ivanhoe Electric's (IE) Saudi Arabia project?

The key results include 13.1 meters @ 1.31% copper and 4.5 g/t silver from 717.9 meters in hole UAD-005, and 5.9 meters @ 0.79% copper and 1.9 g/t silver from 374.5 meters in hole UAD-006.

How many TyphoonTM units does Ivanhoe Electric (IE) have operating in Saudi Arabia?

Ivanhoe Electric has three TyphoonTM units operating in Saudi Arabia, with two units in the Al Amar Belt and one at the Gehab prospect in the Wadi Bidah Belt.

What is the total area covered by IE's TyphoonTM surveys in Saudi Arabia as of January 2025?

The TyphoonTM surveys have covered 238 square kilometers, including 76 square kilometers near the Al Amar mine and an additional 162 square kilometers of the Al Amar exploration licenses.

What is the size of the mineralized system discovered by IE at Umm Ad Dabah?

The mineralized system at Umm Ad Dabah extends over 250 meters in strike length and 400 meters down dip, with mineralization starting from around 200 meters below surface.