Ivanhoe Mines (TSX:IVN)

[Tommy]

$IVP.TO - $IVPAF - Flatreef Discovery expands to 29.2 million ounces of platinum, palladium, rhodium and gold in Indicated Mineral Resources, plus an additional 44.0 million ounces in Inferred Mineral Resources, at a 2.0 g/t 4PE cutoff

http://www.ivanplats.com/s/NewsReleases.asp?ReportID=569749&_Type=News-Releases&_Title=Flatreef-Discovery-expands-to-29.2-million-ounces-of-platinum-palladium-rho...

... "Flatreef averages 24 metres in true thickness and is potentially amenable
to large-scale, mechanized underground mining

Indicated and Inferred Resources also include substantial nickel
and copper credits

Flatreef mineralization remains open for expansion,
with approximately 37.5 square kilometres of property untested" ...

... "Speaking in a keynote address at the Investing in African Mining Indaba Conference, Mr. Friedland said that a new mineral resource model based on drilling results audited by AMEC E&C Services of Reno, Nevada, has upgraded more than 220 million tonnes of the Flatreef Discovery's previously declared Inferred Mineral Resources into the higher-confidence classification of Indicated Mineral Resources.

"Flatreef is distinguished from other Bushveld projects by its tremendous size, the remarkable thickness of the polymetallic mineralized reef and its potential for significant by-product credits of nickel and copper," Mr. Friedland said.

"The successful upgrading and expansion of the selective high-grade underground resources advance the definition of the initial mine plan in which we intend to incorporate safe, efficient, large-scale, mechanized mining methods.

"Given that the cumulative true thickness of the two mineralized zones in the currently defined Indicated Resources is 24 metres at a two-gram-per-tonne 4PE cut-off, we firmly believe that the Flatreef Discovery will enhance the future of underground platinum mining in South Africa."" ...