Ivanhoe Australia (IVA)

Shares / Stock Code

IVA

Stock Exchange / Sharemarket

ax

Ivanhoe Australia (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. Investors can trade Ivanhoe Australia shares on the Australian Stock Exchange (ASX).

Ivanhoe Australia's (IAL's) development strategy will result in a series of operating mines within a mining friendly, politically safe country. Exploration prospectivity on IAL's tenements and in the Cloncurry region, Queensland, Australia remains very high. The company was listed on Australian Securities Exchange on 6 August, 2008.

Ivanhoe Australia's main objective is within the Cloncurry Project to identify and develop "classic" IOCG hosted orebodies which are most likely to be located at depth below surface indications or have geophysical signatures. The most advanced of these IOCG targets are the partly mined Mount Elliott and Starra Line mineralised systems.

There are approximately 220 known targets for copper, gold, and uranium in the Cloncurry Project area, many of which have been previously identified by surface exploration and drilling at relatively shallow depths. Ivanhoe Australia intends to conduct a systematic drilling program of these targets with a view to discovering large IOCG orebodies, other copper dominated orebodies and uranium deposits.

Mount Elliott Project

The Mount Elliott project comprises a number of previously identified zones of mineralisation including the South West Anomaly ("Swan"), Mount Elliott, South West Elliott ("Swell") and Corbould zones. Ivanhoe Australia focused its early work on the Swan zone, located west of the old Mount Elliott mine, with the intention of expanding the known oxide and secondary copper and gold mineralisation that had been identified by previous mine operators.

The drill program undertaken by Ivanhoe Australia in 2004 was successful in expanding the area of known copper and gold mineralisation in both the oxide and secondary copper sulphide zones and encountered strong primary copper sulphide and gold mineralisation at depth.

The majority of Ivanhoe Australia's drilling at the Swan zone in 2006 focused on expanding the know mineralisation at depth along strike to the north. This drilling, which involved 12 diamond holes totalling 6,083 metres, demonstrated that the copper and gold mineralisation discovered in the 2004 program could be traced for at least another 400 metres to the north. The results from this drilling program have been interpreted as steeply dipping pipe-like zones of copper sulphide mineralisation, from which the near-surface secondary mineralisation has developed.

As at 30 June 2008, Ivanhoe had completed 125 holes totalling 94.6 kilometres. Recent drilling has focussed on exploring for a link between the Mount Elliott, Swell and Swan zones at depth and to the north and on infill drilling prior to resouce estimation. The mineralisation encountered thus far at Mount Elliott is open to the north at depth and to the west.

The discovery holes for the deeper Mount Elliott system at Swan were MEHQ 1095, which interesected 290 metres averaging 0.74% copper and 0.62 g/t gold and MEHQ 1130, which included an intersection of 81.2 metres averaging 1.71% copper and 0.90 g/t gold. As at 30 June 2008, the most recent assayed result available from the current drilling program was hole MEHQ 1166, which intersected 514 metres at 0.64% copper and 0.41 g/t gold including 3 intervals of higher grade. Ivanhoe Australia's exploration has now defined a large zone of mineralisation over one square kilometre in area and to a depth of more than 1,200 metres at the Swan zone.