Ivanhoe Electric Discovers Promising Mineralization at Hog Heaven Project in Montana

Ivanhoe Electric Inc. has recently provided an update on its ongoing exploration efforts at the Hog Heaven Project in Montana. The project, located on private land in the silver-rich state of Montana, has shown promising results in the initial exploration drilling.

The exploration drilling program, which commenced in June 2023, has already yielded positive results. One of the drill holes, HHD-005, intersected mineralization over a depth of 311 meters, containing 0.35 g/t gold, 22.89 g/t silver, 0.36% lead, and 0.55% zinc. These results indicate the presence of widespread precious and base metal mineralization at depths greater than those historically explored and mined in the district.

The Hog Heaven district is known for its high sulfidation epithermal mineral deposits and closed mines, including the Flathead Mine. Ivanhoe Electric’s exploration team believes that the Flathead Mine is part of a larger mineralized system that has remained unrecognized by past miners and explorers.

In addition to the high sulfidation mineralization, Ivanhoe Electric is also searching for a deep porphyry copper source at the Hog Heaven Project. The drilling program has provided evidence supporting the existence of a deeper porphyry copper system, with increasing copper mineralization observed at greater depths.

To further advance the search for deep porphyry sources, Ivanhoe Electric has deployed its proprietary Typhoon™ geophysical survey system at the Hog Heaven Project. The system conducts surface electromagnetic surveys to map the semi-massive and massive sulfide epithermal mineralization that contains the precious and base-metal mineralization down to over 700 meters below the surface.

The results from the exploration drilling and the deployment of the Typhoon™ system have positioned the Hog Heaven Project as one of Ivanhoe Electric’s most interesting exploration projects in the United States. The company is earning into a 75% interest in the project through an earn-in agreement with Brixton Metals Corporation.

Executive Chairman Robert Friedland expressed optimism about the project, stating, “We have a wonderful opportunity at the Hog Heaven Project to pick up where legendary miners like Anaconda left off. Our recent drilling efforts have returned promising initial results, and our geologists see potential for mineralization to continue to great depths.”

President and CEO Taylor Melvin echoed Friedland’s sentiment, stating, “We are excited by the initial results of our exploration drilling program at Hog Heaven. The early presence of high-grade precious metal mineralization, along with base metal mineralization at significant depths, is encouraging as our team advances to the next phases of exploration drilling.”

With the ongoing exploration efforts and the discovery of widespread mineralization, Ivanhoe Electric is well-positioned to unlock the full potential of the Hog Heaven Project and contribute to the rich mining history of Montana.