Almaty, Kazakhstan–(Newsfile Corp. – February 12, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that an Exploration Joint Venture has been formed to explore the Chu-Sarysu Copper Basin in Kazakhstan, the world’s third-largest sediment-hosted copper district.
The Joint Venture, with UK-based private company Pallas Resources, covers a highly prospective licence package of up to 16,000 km2, which spans an accumulated dataset of Soviet-era exploration data. For comparison, the licence package is approximately 7.5 times the size of Ivanhoe’s Western Forelands Exploration Project.
Ivanhoe has committed to fund $18.7 million in exploration activities over an initial two year period, with earn-in rights to further increase ownership up to 80% over time. Exploration activities are underway, including the hiring of a dedicated exploration team. An airborne geophysics contract is currently under tender and is expected to be awarded imminently.
Ivanhoe Founder and Executive Co-Chairman Robert Friedland commented:
“You may be wondering why we are going to Kazakhstan? It is because Kazakhstan is a major mining jurisdiction and host to the world’s third largest sedimentary copper basin. The Ivanhoe Group has a long history in Kazakhstan …we love the country, we love its people and we look forward to returning to this tremendous country to further unlock the significant geological potential of the Chu-Sarysu Basin.
“We know how to find tier-one sedimentary copper deposits, and we know how to mine them. The landmark development of the Kamoa-Kakula Copper Complex and the expanding discoveries of the Western Forelands, in the Democratic Republic of Congo, are testament to this. We will be building on our successes over the past 28 years here, where we have discovered over 50 million tonnes of copper… and counting.
“Ivanhoe’s strategic partnership marks an exceptional opportunity to utilize our exploration expertise in one of the world’s most prospective sedimentary copper basins. With over 16,000 km² of license applications in the Chu-Sarysu Basin-the largest land-holding position in the region-we are poised to become one of the most significant global copper exploration stories.
“With a legacy of accomplishments in emerging mineral jurisdictions, including Kazakhstan, Ivanhoe takes pride in applying its expertise to generate lasting value for our shareholders and the communities in which we operate. Our commitment extends beyond discovering vital copper resources, focusing on sustainable development and creating long-lasting economic opportunities in Kazakhstan.
“This partnership marks an excellent addition to our growing copper exploration portfolio to further accompany the rapidly advancing Western Forelands licenses adjacent to Kamoa-Kakula. Western Forelands underpins the next stage of our aggressive copper production growth story, and we expect to update the market on these exciting exploration efforts in the Democratic Republic of Congo shortly.”
Kazakhstan’s Chu-Sarysu Basin is the world’s third-largest sedimentary copper basin, after the prolific Central African Copperbelt
The Chu-Sarysu is the world’s third-largest sediment-hosted copper basin, after the Central African Copperbelt and European Kupferschiefer, hosting 27 million tonnes of known copper.
It includes major deposits such as the 100-year-old Zhezkazgan complex, which contains over 22 million tonnes of copper. The vast complex produces approximately 200,000 tonnes of copper per annum, along with significant silver by-products, from one open pit mine and 6 underground mines.
The United States Geological Survey (USGS) estimates that there remains approximately 25 million tonnes of undiscovered copper in the Chu-Sarysu Basin, highlighting its untapped potential. In addition, the basin includes occurrences of lead, zinc, silver, barium and strontium. Despite its significant prospectivity, greenfield exploration has been largely neglected across the entire region for over 40 years.
The Joint Venture intends to leverage Ivanhoe Mines’ decades of exploration success in discovering over 50 million tonnes of sediment-hosted copper deposits in the Western Foreland shelf of the Democratic Republic of Congo, including the Kamoa, Kakula, Makoko and Kitoko discoveries.
Full news release: https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-commences-exploration-for-sediment-hosted-copper-in-central-kazakhstan/