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Ivanhoe Electric announced that Fluor Enterprises Inc. will lead the Preliminary Feasibility Study (PFS) for their Santa Cruz Copper Project, with completion expected by Q2 2025. Fluor is recognized for its expertise in mining projects. In addition to Fluor, several other consultants will handle specific aspects of the PFS. Significant progress has been made in the infill drilling program, with 185 drill holes totaling 133,000 meters completed since December 2022.
Recent step-out drilling at the Verde Domain identified high-grade copper intercepts, expanding the mineralized domain. Assay results from various drill holes confirm high-grade copper mineralization, with notable intersections including 89 meters @ 2.03% total copper in SCC-189 and 181.81 meters @ 1.72% total copper in SCC-208. Exploration drilling will continue in the Southwest Exploration and Texaco areas.
The PFS remains on track and aims to finalize by Q2 2025, supporting the project's advancement.
Ivanhoe Electric has announced a multi-year sponsorship of $150,000 with the Native American Mining and Energy Sovereignty Initiative (NAMES), part of the Payne Institute for Public Policy at the Colorado School of Mines. This initiative aims to support Tribal communities by fostering educational opportunities in energy and natural resources. Ivanhoe Electric's funding will assist Native American students in gaining admissions, retention, and graduation at both undergraduate and graduate levels. Additionally, it will support advanced research and development of Tribal energy and mineral initiatives and develop STEM programs focusing on Native American needs. The inaugural event for NAMES, co-hosted by the Southern Ute Indian Tribe, will take place on May 20-21 in Ignacio, Colorado. Ivanhoe Electric is committed to empowering Tribal communities and promoting social and economic progress through this partnership.
Ivanhoe Electric Inc. announces an Exploration Alliance with BHP to accelerate the search for critical minerals in the United States. BHP will provide $15 million for exploration over three years, with Ivanhoe Electric offering access to cutting-edge technology. The alliance aims to identify joint venture projects in Arizona, New Mexico, and Utah, focusing on copper and other minerals. The partnership signifies a significant step towards meeting the demand for critical minerals in the energy and electrification sectors.
