Ivanhoe Mines Discovers Surface Copper in Kazakhstan Chu-Sarysu Basin

Ivanhoe Mines, in a joint venture with UK-based Pallas Resources, has discovered significant outcropping copper mineralization in Kazakhstan's Chu-Sarysu Basin, one of the world's largest sediment-hosted copper districts. The discovery on the Merke licence features a 20-meter thick zone with visible copper minerals such as malachite, azurite, and chalcocite, and surface samples returning between 1% and 5% copper, supporting the theory that the mineralization is structurally controlled by faults and fractures. Although not economically viable on its own, this find strengthens the exploration framework, prompting follow-up mapping and high-resolution magnetic surveys to better understand the geology and target deeper mineralization. Concurrently, a 15,000-meter drilling program is underway at the Glubokoe licence to refine geological models and validate historic data. The Chu-Sarysu Basin, ranked as the third-largest sediment-hosted copper basin globally, hosts the century-old Dzhezkazgan deposit and is estimated to contain an additional 25 million tonnes of undiscovered copper. Despite a slight decline in Ivanhoe's share price following the announcement, the company maintains a positive outlook with ongoing exploration efforts aimed at unlocking the basin's potential.