Oyu Tolgoi grows

Vancouver — Ivanhoe Mines‘ (IVN-T) Oyu Tolgoi copper-gold deposit in Mongolia just got bigger.

AMEC has calculated a measured and indicated resource of 1.15 billion tonnes grading 1.3% copper and 0.47 gram gold per tonne, based on a cutoff grade of 0.6% copper-equivalent. The amount of contained copper and gold is pegged at 15 million tonnes (33 billion lbs.) and 17.3 million oz., respectively.

The measured and indicated tonnage is up 125% from the previous estimate, and contained copper and gold are up 360% and 85%, respectively.

There is also an inferred resource of 1.16 billion tonnes grading 1% copper and 0.23 gram gold, equivalent to 11.8 million tonnes (26 billion lbs.) copper and 8.4 million oz. gold.

Most of the increase is a result of infill and stepout drilling on the Hugo North deposit, which expanded the high-grade core of the copper-rich porphyry deposit.

Ivanhoe envisages mining Oyu Tolgoi using both open-pit and underground methods.