Hog Heaven, Montana
Located on private land approximately 50 miles south-southwest of the town of Kalispell, Montana.
Historical high-grade silver and gold production by Anaconda.
Typhoon™ deployed to advance the search for additional epithermal mineralization and deep porphyry source.
Large district, underexplored at depth, with substantial alteration footprint and multiple mineralized centers.
SUMMARY
The Hog Heaven district consists of several high sulfidation epithermal mineral deposits and prospects as well as several now-closed mines, including the Flathead Mine. The ongoing drill program is designed to search for: additional silver, gold, and copper-rich high sulfidation epithermal mineralization, which was the focus of historical mining activities, and porphyry copper mineralization located at depth.
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History
The Flathead Mine was mined by Anaconda Mining Inc. from 1929 to 1946, producing approximately 241,000 short tons of direct-ship ore averaging 26.6 troy oz/ton silver. Another operator mined the Flathead Mine from 1963 to 1975 producing 49,700 short tons averaging 9.35 troy oz/ton silver. Other previously mined high sulfidation epithermal mineral deposits within the bounds of the Hog Heaven Project include the Ole Hill and West Flathead Mines located 1 mile west of the Flathead Mine; the Margarite Mine, south of Flathead Mine; and the Martin Mine just northwest of Margarite Mine. Ivanhoe Electric’s exploration team believes that the Flathead Mine is part of a much larger mineralized system that has remained unrecognized by past miners and explorers.
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Hog Heaven Project Map
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Drilling Results
DRILL HOLE FROM (M) TO (M) INTERVAL LENGTH (M) CuEq* (%) AuEq* (g/t) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) Mo (ppm) HHD-001 No Significant Results HHD-002 No Significant Results HHD-003 No Significant Results HHD-004 1190.00 1246.00 56.00 0.20 0.30 0.02 10.62 0.04 0.07 0.11 229 HHD-005 164.00 473.00 309.00 0.75 1.14 0.35 23.04 0.06 0.36 0.55 N/A Including 175.00 250.00 75.00 1.37 2.09 0.31 28.99 N/A 1.10 2.05 N/A Including 188.00 416.31 228.31 0.85 1.30 0.40 28.47 0.07 0.39 0.59 N/A And 518.69 583.00 64.31 0.39 0.59 0.23 9.19 0.13 0.09 0.01 N/A And 901.00 909.00 8.00 1.86 2.84 0.34 23.38 1.32 0.02 0.37 N/A HHD-006 490.00 521.00 31.00 0.75 1.14 0.25 17.27 0.02 0.86 0.66 N/A And 591.40 614.00 22.60 0.68 1.04 0.26 23.48 0.30 0.04 0.01 N/A Including 593.00 595.90 2.90 3.36 5.13 0.78 125.17 1.75 0.70 0.30 N/A HHD-007 141.00 489.00 348.00 0.80 1.22 0.43 40.48 0.08 0.22 0.12 N/A Including 147.80 148.80 1.00 24.61 39.96 5.16 2180.00 0.63 6.00 6.14 N/A And 512.00 579.00 67.00 0.36 0.55 0.26 6.46 0.09 0.15 0.03 N/A And 669.00 695.00 26.00 0.82 1.26 0.23 17.02 0.51 0.07 0.02 N/A HHD-008 406.00 478.00 72.00 0.71 1.09 0.32 30.62 0.12 0.20 0.23 N/A And 543.00 634.10 91.10 0.42 0.64 0.22 14.73 0.11 0.11 0.06 N/A And 654.00 678.00 24.00 0.65 1.00 0.19 49.89 0.09 0.02 0.01 N/A HHD-009 348.00 396.00 48.00 0.52 0.79 0.13 18.84 0.03 0.37 0.47 N/A And 410.00 555.00 145.00 0.62 0.95 0.26 27.47 0.20 0.07 0.01 N/A Including 437.05 438.00 0.95 16.08 24.55 5.39 524.00 7.99 0.15 0.05 N/A And 584.00 634.00 50.00 0.35 0.53 0.14 11.17 0.15 0.02 0.02 N/A And 712.00 785.47 73.47 0.19 0.30 0.07 9.67 0.01 0.08 0.12 N/A HHD-010 219.20 296.00 76.80 0.66 1.05 0.22 18.63 0.03 0.53 0.61 N/A Including 260.70 278.00 17.30 1.12 1.71 0.37 41.38 0.13 0.74 0.67 N/A And 396.00 416.00 20.00 0.69 1.06 0.38 37.02 0.03 0.10 0.21 N/A And 513.80 589.39 75.59 0.68 1.03 0.52 22.50 0.10 0.06 0.08 N/A And 647.00 770.00 123.00 0.35 0.53 0.16 7.22 0.13 0.07 0.10 N/A HHD-011 241.00 451.00 210.00 0.59 0.90 0.49 17.37 0.05 0.12 0.14 N/A Including 407.00 435.00 28.00 1.05 1.60 0.97 32.95 0.08 0.12 0.06 N/A HHD-012 282.12 439.00 156.88 0.61 0.93 0.34 18.77 0.09 0.24 0.22 N/A Including 282.12 330.04 49.92 0.85 1.30 0.40 29.52 0.11 0.40 0.42 N/A HHD-013 Assays Pending N/A HHD-014 528.00 556.00 28.00 1.34 2.05 0.59 69.70 0.30 0.06 0.14 N/A Including 544.00 549.25 5.25 3.48 5.31 1.84 184.31 0.58 0.19 0.19 N/A And 568.00 650.00 82.00 1.22 1.87 0.32 37.76 0.63 0.06 0.15 N/A Uncapped 568.00 650.00 82.00 - - 0.32 37.76 0.79 0.06 0.15 Including 630.55 646.30 15.75 3.40 5.18 0.72 97.06 1.97 0.10 0.28 N/A Including 630.55 634.50 3.95 9.65 14.73 5.78 264.73 2.20 0.13 0.36 N/A Uncapped 630.55 634.50 3.95 - - 5.78 264.73 9.13 0.13 0.36 Including 631.55 632.68 1.13 17.24 26.31 3.94 519.00 21.70 0.24 0.67 N/A HHD-015 Complete - Assays Pending HHD-016 Currently Drilling *The following long term metal prices were used: 3.80$/lb Cu, 1,707$/oz Au, 22.42$/oz Ag, 0.93$/lb Pb, and 1.19$/lb Zn.
*The specific formula used to report CuEq (%) is Cu% + ((0.655098368532259) * Au(g/t)) + ((0.00860416501017281) * Ag(g/t)) + (0.244736842105263) * Pb (%)) + ((0.313157894736842) * Zn (%))
**The specific formula used to report AuEq (g/t) is Au(g/t) + ((1.52648830776436) * Cu (%)) + ((0.013134157286104) * Ag(g/t)) + ((0.373417847087258) * Pb (%)) + ((0.478031065946989) * Zn (%))
*Flat recoveries of 100% were used for the purposes of metal equivalency calculations.
*Intervals were derived on a AuEq basis with a cutoff of 0.25g/t AuEq
*Maximum internal dilution of 5 meters was applied
*Copper assays were capped to 10% for the purposes of interval calculations
*These are not true widths
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Collar Locations Table
DRILL HOLE STATUS DEPTH (m) AZIMUTH (°) DIP (°) EASTING NORTHING ELEVATION HHD-001 COMPLETE 580.34 275 -50 678352 5309703 1200 HHD-002 COMPLETE 1001.5 270 70 678317 5309025 1151 HHD-003 COMPLETE 1248.76 65 -85 679760 5309704 1067 HHD-004 COMPLETE 1316.13 305 -55 680093 5308712 1027 HHD-005 COMPLETE 1248.76 185 -80 680725 5310624 1250 HHD-006 COMPLETE 773.58 340 -61 680748 5310254 1210 HHD-007 COMPLETE 824.79 210 -75 680727 5310624 1255 HHD-008 COMPLETE 735.18 0 -60 680752 5310259 1226 HHD-009 COMPLETE 785.47 100 -77 680533 5310551 1206 HHD-010 COMPLETE 1212.49 120 -70 680364 5310565 1214 HHD-011 COMPLETE 633.37 70 -65 680360 5310574 1213 HHD-012 COMPLETE 544.37 285 -75 680458 5310455 1181 HHD-013 COMPLETE - ASSAYS PENDING 1157.63 240 -70 679768 5310382 1111 HHD-014 COMPLETE 864.72 220 -60 680273 5310468 1192 HHD-015 COMPLETE - ASSAYS PENDING 594.06 250 -60 680273 5310468 1192 HHD-016 IN PROGRESS 305 -80 680372 5310370 1169 -
Joint Venture
Ivanhoe Electric and Brixton Metals Corporation (“Brixton”) entered into an earn-in agreement in 2021 covering an area of approximately 24 km2 of the Hog Heaven Project. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75% interest in the Brixton land constituting the Hog Heaven Project by making cash payments totaling $4.5 million and incurring an aggregate of $40 million in exploration expenditures by 2032. Ivanhoe Electric will earn an initial a 51% interest by making a total of $4.5 million in cash payments and incurring $15 million in exploration expenditures.
