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Market:	ASX
Sector:	General Mining
EPIC:	IVA
Latest Price:	1.89 (-1.04% )
52-week High:	3.48
52-week Low:	0.81
Market Cap:	917.49M

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Ivanhoe Australia

Ivanhoe Australia's (ASX: IVA) vision is to build a substantial Australian based company focused on the exploration and development of its portfolio of mineral projects. Planning for the development of four separate projects is underway on projects containing molybdenum, rhenium, copper, gold, zinc, silver and uranium.

Ivanhoe Australia inks initial molybdenum & rhenium resource at Mt Dore

Friday, November 06, 2009

Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) announced today that it has received an initial, independent NI 43-101 Resource Estimate for the high-grade Merlin molybdenum and rhenium deposit, which comprises part of Ivanhoe Australia's (ASX: IVA) Mt. Dore Project in the Cloncurry District in northwestern Queensland.

Mt. Dore is a polymetallic deposit containing copper, zinc, silver, gold, lead, cobalt, molybdenum and rhenium within the Kuridala Formation.

At a cut-off grade of 0.3% molybdenum, estimated indicated resources total 5.2 million tonnes at a grade of 1.0% molybdenum and 16 g/t rhenium, containing 52,000 tonnes of molybdenum and 83 tonnes of rhenium, plus additional inferred Resources totalling 3.5 million tonnes at a grade of 0.8% molybdenum and 14 g/t rhenium, containing 28,000 tonnes of molybdenum and 49 tonnes of rhenium.

The base case cut-off grade of 0.3% Mo was based on Mo at US$12/lb, Re at US$5/g, 90% and 80% recovery respectively, and a Mo %:Re ppm ratio of 16:1. Total production costs were based on A$120/tonne and 1$A = US$0.75.

Mt Dore is in northwestern Queensland, Australia, approximately 145 kilometres southeast of Mount Isa and 700 kilometres west-southwest of Townsville.

Ivanhoe Australia is 82.9%-owned by Ivanhoe Mines.

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