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    There is a lot of chatter about the positives and negatives of delaying the PEA for Storms development.

    In terms of a major sedimentary copper project like Kamoa-Kakula a similar decision point was made.

    In 2013, after drilling 44,773 metres a resource of 739 Mt @ 2.7% Cu was identified. More than enough to start a mine and start producing copper.

    https://hotcopper.com.au/data/attachments/6196/6196018-964bb23aadbded4146added49f95ffa9.jpg
    Kamoa-Kakula Copper deposit, DRC: Discovery, geology and controls on mineralization - G. Gilchrist (youtube.com) - 12 minute mark.


    The "Kamoa-Kakula Copper deposit, DRC: Discovery, geology and controls on mineralization - G. Gilchrist" (from 8:00 - 16:20 minutes) explains why Ivanhoe continued exploration drilling over multiple years:

    Initial discovery was promising, but extent unknown: While initial drilling showed good copper grades (6 meters at 3% copper), the full size of the deposit was unclear.
    Hidden geology: Thick weathering profile made it difficult to see rocks, requiring extensive drilling to understand the deposit's geometry.Deposit kept expanding: As drilling continued, the copper deposit kept getting bigger, showing characteristics of a major copper belt.Looking for extensions and high-grade zones: Ivanhoe wanted to define the complete deposit and locate areas with particularly high copper concentrations.
    Discovery of Kakula: Ongoing exploration led to the discovery of the Kakula deposit in 2013-2018, with significantly higher copper grades compared to the initial Kamoa prospect.

    https://hotcopper.com.au/data/attachments/6196/6196040-52247487603de90e3dd798564d64cc8e.jpg


    In essence, Ivanhoe continued drilling because initial findings were promising, but more information was needed to define the total resource and locate the most valuable zones. This extra exploration effort led to the discovery of the even better Kakula deposit (eg. higher grade, consistent over kilometres, vast scale, better economics, resulting in being the main focus of the business).

    https://hotcopper.com.au/data/attachments/6196/6196067-2cac48137575dc8adfb6430c130eeb85.jpg
    The extra exploration drilling allowed the Kamoa - Kakula resource to grow from zero to fourth latest copper deposit in the world.

    https://hotcopper.com.au/data/attachments/6196/6196097-81d7a7658cf62c0b021ba4412472a95a.jpg


    Maximizing Project Value:
    Resource Expansion: By delineating a larger resource, Ivanhoe could potentially extend the mine life and increase total copper production. This translates to greater returns on investment.

    Long-Term Vision:
    Future Discoveries: The success at Kamoa-Kakula demonstrates the potential for the surrounding region. Continued exploration could lead to further discoveries, increasing the company's resource portfolio and overall value.

    Therefore, Ivanhoe's extensive drilling campaign wasn't just about finding copper, it was about building a comprehensive understanding of the entire Kamoa-Kakula area to minimize risk and maximize the project's long-term value for investors.

    The same philosophy is underway at Storm Copper Project.


 
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