Santa Cruz, Arizona

Ivanhoe Electric has a compelling opportunity to build a modern, low carbon footprint, sustainable, copper producing industrial complex in the United States.
Santa Cruz, Arizona
Location
Arizona, USA
Investment vehicle
Ivanhoe Electric
Ownership
Option to 100%1
Metal
Copper
Opportunity
Ivanhoe Electric believes that Santa Cruz is currently the second largest undeveloped copper deposit, by tonnes contained, in the lower 48 states, with considerable potential to significantly expand the resources

1. Ivanhoe Electric holds an option on the purchase of the mineral title while holding an exclusive agreement on surface access.

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Santa Cruz is located in Arizona, a prolific mining State, where over 35 million tonnes of copper have been produced since 1980 (~65% of total US production).

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The Santa Cruz Project has Indicated Resources of 2.5 Mt of contained copper with an average grade of 0.93%, plus Inferred Resources of 2.3 Mt of contained copper with an average grade of 0.91%.

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Near-term focus on discovery of shallow high-grade mineralization based on revised geological model.

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Deployment of Typhoon™ exploration search technology to help identify new mineralized targets, allowing Ivanhoe Electric to more efficiently explore with targeted diamond drilling.

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Option to utilize VRB technology and integrate with renewable energy power sources, like solar, to develop a modern, low footprint, sustainable copper producing industrial complex.

December 2021 Resource Estimate1

DomainResource
Category
Kilotonnes
kt
Total
Cu %
Total
Soluble
Cu %
Acid
Soluble
Cu % 2
Cyanide
Soluble
Cu %
Total
Cu kt
Total
Soluble
Cu kt
Acid
Soluble
Cu kt
Cyanide
Soluble
Cu kt
ExoticIndicated6,9891.050.800.730.077356515
Inferred11,6801.281.000.980.021491181153
OxideIndicated52,9901.341.270.980.29708669518151
Inferred126,1381.061.000.710.291,3361,253892361
Chalcocite
Enriched
Indicated29,1451.251.130.400.73364328115213
Inferred14,8381.361.280.520.7620219178113
PrimaryIndicated184,8770.75n/an/an/a1,394n/an/an/a
Inferred96,0980.59n/an/an/a568n/an/an/a
Total
 Indicated274,0000.930.380.250.132,5391,053684369
Inferred248,7540.910.630.440.192,2551,5631,085478
  1. The Mineral Resources in this estimate were independently prepared by Nordmin, and were prepared and classified in accordance with the definitions for Mineral Resources in S-K 1300. The Mineral Resources have an effective date of December 8, 2021. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. No environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues are known that may affect this estimate of Mineral Resources. Verification included multiple site visits to inspect drilling, logging, density measurement procedures and sampling procedures, and a review of the control sample results used to assess laboratory assay quality. In addition, a random selection of the drill hole database results was compared with original records. The Mineral Resources in this estimate for the Santa Cruz deposit used Datamine Studio RMTM software to create the block models. Underground Mineral Resources are reported at a CoG of 0.39% Total Cu, which is based upon a Cu price of US$3.70/lb and a Cu recovery factor of 80%. SG was applied using weighted averages by lithology. All figures are rounded to reflect the relative accuracy of the estimates, and totals may not add correctly. Excludes unclassified mineralization located along edges of the Santa Cruz deposit where drill density is poor. Report from within a mineralization envelope accounting for mineral continuity.
     
  2. Acid soluble Cu and cyanide soluble Cu are not reported for the Primary Domain.

The Largest Known Deposit in the Cluster

Proprietary Typhoon™ Technology Identifies Multiple Large-scale Anomalies

2021-2022 Drill Program

The 2021-2022 drill program at the Santa Cruz Copper Project is ongoing. Drilling has been focused on multiple areas of the Santa Cruz deposit, as well as neighboring exploration areas. Holes from SCC-001 through SCC-004 were included in the mineral resource estimate, while all other holes were not included (as they were after the drilling cut-off and effective date of December 8, 2021). Within the Santa Cruz deposit, these subsequently drilled holes are expected to further refine the geometry and location of the modeled mineral resources. The exploration holes drilled outside of the Santa Cruz deposit area are expected to help define mineralized areas and guide future work.

  • Assay Results Table
    DRILL HOLEFROM
    (M)
    TO
    (M)
    INTERVAL
    LENGTH
    (M)
    TOTAL
    COPPER
    (%)
    TOTAL SOLUBLE
    COPPER
    (%)
    SCC-001583.71027.0443.31.370.87
    Including623.1673.250.12.552.21
    Including681.2711.330.12.752.53
    Including732.5758.526.02.101.87
    Including776.51009.0232.50.880.16
     
    SCC-002587.0633.046.01.151.07
     639.0702.063.01.651.76
     721.0919.0198.01.050.45
    Including723.0748.025.03.362.84
    Including831.0901.070.00.670.08
     
    SCC-003508.0529.021.02.152.05
    Including513.0523.010.03.423.32
     538.0566.028.00.760.68
     593.0629.036.00.630.52
     
    SCC-004597.0633.036.01.461.42
    Including597.0609.012.02.782.72
     666.0849.0183.00.670.56
    Including666.0680.014.01.331.29
    Including824.0831.67.60.950.15
     902.0908.06.00.580.52
     
    SCC-005613.2623.09.81.881.46
     636.0693.057.03.522.77
    Including659.0683.124.17.025.40
     
    SCC-006478.0490.012.00.490.45
     550.0565.015.00.780.75
     666.0766.0100.01.521.34
    Including666.0690.024.03.092.92
    Including710.0724.014.02.151.95
     773.6792.018.40.660.17
     836.0879.043.00.680.08
     938.01017.079.00.600.08
     1067.01077.010.00.980.09
     
    SCC-007813.6871.057.40.920.85
    Including814.4830.015.61.841.74
     880.0905.025.02.442.28
    Including886.0896.010.04.083.79
     968.01304.0336.01.270.96
    Including982.01132.0150.02.082.00
    Including996.01040.044.02.382.34
    Including1088.01123.035.02.282.18
    Including1151.01164.013.01.040.06
    Including1214.01222.08.00.990.07
     
    SCC-008754.0763.09.01.951.83
     804.0816.012.01.191.03
     829.0842.013.00.560.52
     901.01057.0156.00.740.21
    Including922.0957.035.01.120.35
    Including1006.01027.021.00.580.09
    Including1036.01044.08.00.830.11
     
    SCC-009504.0518.014.01.021.00
     549.0609.060.00.640.61
    Including597.0609.012.01.341.27
     
    SCC-011749.2811.161.91.081.05
    Including749.2760.010.91.831.78
    Including766.0809.743.71.020.99
    Including767.0777.010.01.521.50
     859.0949.090.00.830.74
    Including860.0890.030.01.621.45
     
    SCC-012No reportable assays
    Note: Did not reach bedrock
     
    SCC-013735.0741.06.00.440.03
     774.0781.17.10.790.05
     
    SCC-014683.0869.0186.00.640.24
     
    SCC-015No reportable assays
    Note: Did not reach bedrock
    SCC-016284.0290.06.00.610.58
     
    SCC-017756.51075.0318.50.880.22
    Including756.51040.0283.50.920.25
    Including862.0905.043.01.260.28
    Including963.0978.015.01.190.07
    Including1001.81014.012.21.010.09
     
    SCC-018747.0816.069.00.260.02
    Including755.9796.040.10.280.02
    Including747.0753.06.00.350.02
     
    SCC-019773.0873.0100.01.740.91
    Including773.0846.073.02.211.22
     931.0942.011.00.970.13
     1018.01059.941.90.820.06
    Including1021.01028.07.01.440.10
     1071.41095.023.60.610.04
     
    SCC-021505.0511.06.01.551.51
     549.0565.016.02.262.02
    Including554.0563.09.03.242.88
     586.0603.017.00.820.08
    Including586.0595.09.01.071.03
     631.0651.020.01.401.33
    Including632.0641.09.02.612.46
    Including634.0641.07.03.002.87
     657.0721.064.00.700.60
     742.0822.480.40.500.08
     
    SCC-022313.0329.616.61.231.11
     
    SCC-022A557.0596.039.01.351.29
    Including557.0563.06.03.293.27
    Including568.0578.210.22.022.06
     604.0694.090.00.510.28
     781.0796.015.00.490.08
     
    SCC-023460.5490.630.10.630.38
    Including463.0472.09.01.000.56
     522.0530.48.43.392.60
     568.0575.07.00.610.37
     632.7672.039.30.980.90
     656.0664.58.51.841.75
     658.0664.56.52.001.92
     852.0858.06.00.500.49
     
    SCC-025613.5671.057.52.512.39
    Including613.5667.053.52.642.52
    Including613.5620.06.52.382.31
    Including624.0661.037.02.992.86
     677.0687.010.00.760.31
     695.0728.033.01.080.91
    Including695.0701.06.01.511.42
    Including707.0717.010.01.361.35
    Note: Assays pending 494-609; 728-858.77m
     
    SCC-026No reportable assays
    Note: Assays pending 396-741.88m
     
    SCC-027No reportable assays
    Note: Hole ended early, redrilled as SCC-048
     
    SCC-029No Reportable Assays
    Note: Assays pending 402-813;833-917.9m
     
    SCC-031All assays pending
     
    SCC-032All assays pending
     
    SCC-045531.0612.081.00.720.66
    Including531.0539.08.01.231.15
    Note: Assays pending 661-883.76m
     
    SCC-048781.0808.027.00.710.10
    Note: Assays pending 575-781; 808-915.47m
     
    SCC-052646.2731.285.00.760.54
    Including646.2675.028.81.231.22
     780.0867.087.00.600.10
     874.0880.96.90.530.06
     
    SCC-053No reportable assays
    Note: Assays pending 373-1041.8m
     
    SCC-054All Assays Pending
     
    SCC-055Not Sampled
     
    SCC-056No reportable assays
    Note: Assays pending 411-846.73m
     
    SCC-057All Assays Pending
     
    SCC-058All Assays Pending
     
    SCC-059All Assays Pending
     
    SCC-060Not Sampled
     
    SCC-061Not Sampled
     
    SCC-062Not Sampled
     
    SCC-063327.0336.09.01.301.16
    Note: Assays pending 390.31-405; 475-932.99m
     
    SCC-064Not Sampled
     
    SCC-065No Reportable Assays
    Note: Assays pending 200-286; 378-577.9m
     
    SCC-066Not Sampled
     
    SCC-067Not Sampled
     
    SCC-068569.0614.045.01.621.53
    Including577.8589.011.23.273.16
     707.0724.017.00.860.80
     742.0807.065.01.040.58
    Including742.0755.013.01.241.18
    Including762.0770.08.01.441.32
     890.0917.027.00.820.06
    Note: Assays pending 487-556; 614-699; 807-890; 917-1019.1m
     
    SCC-069Not Sampled
     
    SCC-070Not Sampled
     
    SCC-071Not Sampled
     
    SCC-072Not Sampled
     
    SCC-073All Assays Pending
     
    SCC-074Not Sampled
     
    SCC-075Not Sampled
     
    SCC-076Not Sampled
     
    SCC-077Not Sampled
     
    SCC-078Sonic hole: Not Sampled
     
    SCC-079Not Sampled
     
    SCC-080Not Sampled
     
    SCC-081All Assays Pending
     
    SCC-082Sonic hole: Not Sampled
     
    SCC-083Not Sampled
     
    SCC-084602.0915.9313.91.060.95
    Including602.0635.033.01.841.56
    Including621.9635.013.13.172.82
    Including661.0805.0144.01.381.31
    Including687.0701.014.01.421.33
    Including707.0783.076.01.861.80
    Including743.0749.06.03.533.42
    Including759.0773.014.02.412.37
    Including795.0803.08.01.241.15
    Including811.0891.080.00.650.57
    Including837.0843.06.01.411.34
    Including901.0915.914.90.720.56
     
    SCC-085Not Sampled
     
    SCC-086Sonic hole: Not Sampled
     
    SCC-087Not Sampled
     
    SCC-088All Assays Pending
     
    SCC-089Sonic hole: Not Sampled
     
    SCC-090All Assays Pending
     
    SCC-091No reportable assays
     
    SCC-092All Assays Pending
     
    SCC-093All Assays Pending
     
    SCC-093AAll Assays Pending
     
    SCC-095All Assays Pending
     
    SCC-096All Assays Pending
     
    SCC-097All Assays Pending
     
    SCC-098Actively Drilling
     
    SCC-099All Assays Pending
     
    SCC-100All Assays Pending
     
    SCC-101All Assays Pending
     
    SCC-102All Assays Pending
     
    SCC-103Not Sampled
     
    SCC-104All Assays Pending
     
    SCC-105All Assays Pending
     
    SCC-106Actively Drilling
     
    SCC-107Actively Drilling
     
    SCC-108Actively Drilling
     
    SCC-109Actively Drilling
     
    SCC-110Actively Drilling
    Notes:
    Select drill holes located outside of the project area are not shown on the table.
    Total Soluble Copper is the calculated summation of all soluble copper derived from the sequential copper analysis suite.
    Reported intervals are calculated using a 0.39% total copper cut-off grade and allowing up to a maximum of 6-meters of material less than 0.39% total copper.
    Results are core intervals and may not be true widths but are believed to be representative of actual drill thicknesses.
    Some rounding errors may occur.
  • Collar Locations Table
    Drill HoleDepth (m)Azimuth (˚)Dip (˚)EastingNorthingElevation
    SCC-0011274.980-90417839.133639741.82404.27
    SCC-002965.300-90417684.233640037.27403.29
    SCC-003778.460-90417342.003640853.00390.75
    SCC-004926.910-90417536.123640347.10402.38
    SCC-005793.700-90417841.933640342.76403.03
    SCC-0061265.83225-56417863.573640199.79403.29
    SCC-0071344.17235-50418343.483639974.63404.24
    SCC-0081220.270-90417909.203639890.86404.23
    SCC-009945.79225-75417328.623640843.84401.31
    SCC-0111099.410-90417969.403640016.61403.94
    SCC-012379.780-90419564.523643166.42400.56
    SCC-013855.270-90421071.783644586.38413.47
    SCC-0141023.52190-84419175.113643173.58405.60
    SCC-015548.940-90419378.463643167.47404.66
    SCC-016931.160-90416630.643641665.75402.79
    SCC-0171139.340-90419378.013643172.74404.42
    SCC-018848.870-90421069.593644346.22419.65
    SCC-0191123.340-90419564.523643166.42400.56
    SCC-021822.35230-80417462.363640515.66406.27
    SCC-022446.80241-80417447.033640638.49406.04
    SCC-022A813.36241-80417447.033640638.49406.04
    SCC-023897.94207-75417693.003640427.00405.00
    SCC-025858.77228-82417800.203639904.39407.99
    SCC-026741.88209-80417306.483640497.20405.92
    SCC-027550.47259-82417812.783639909.68407.86
    SCC-029917.91227-78417628.303639967.64407.28
    SCC-031904.34222-85417663.753640253.76407.52
    SCC-032811.68220-78417503.903640057.65407.17
    SCC-045883.76225-73417447.943640641.80406.20
    SCC-048915.47259-82417813.323639920.49408.07
    SCC-052880.87224-75417481.093640515.04406.42
    SCC-0531041.80224-85417452.893640334.43406.69
    SCC-054686.71248-85417351.543640392.33402.66
    SCC-055304.80224-85417544.243640434.37402.98
    SCC-056846.73224-78417545.583640429.47406.67
    SCC-057996.70221-74417766.153640029.89406.23
    SCC-058889.25226-69417764.393640037.65407.59
    SCC-059980.24212-80417826.003640085.46407.58
    SCC-060304.80224-75417824.653640083.89407.48
    SCC-061304.80238-75417819.883640080.97407.56
    SCC-062304.80250-82417816.833640076.48407.49
    SCC-063932.99200-80417446.473640644.64408.22
    SCC-064204.220-90417087.283641942.98402.71
    SCC-065577.900-90416802.873641176.62405.94
    SCC-066228.600-90417098.143641365.92404.99
    SCC-067243.840-90417384.003641452.35400.12
    SCC-0681019.09231-75417767.193640175.02399.86
    SCC-069228.650-90416820.823641946.41398.38
    SCC-070246.890-90417158.363641759.90399.25
    SCC-071243.840-90417169.393641590.84399.57
    SCC-072274.320-90416448.993641668.85398.52
    SCC-073916.380-90417159.533640568.71401.96
    SCC-074259.080-90416755.383641453.75399.42
    SCC-075289.560-90417095.043641069.00400.72
    SCC-076152.400-90416954.753641665.87399.28
    SCC-077320.040-90417438.773641315.27400.21
    SCC-078100.000-90417557.443641548.67399.97
    SCC-079454.15232-75417980.963639786.00404.50
    SCC-080759.56205-85417529.003640263.00399.97
    SCC-081525.170-90416447.573641968.78398.10
    SCC-082112.700-90417698.363642164.44399.14
    SCC-083399.28222-85417980.773639785.86404.50
    SCC-084915.92214-80417767.903640175.77400.88
    SCC-085388.00254-78418083.953639717.37404.75
    SCC-086149.960-90417466.633642269.25398.61
    SCC-087426.72234-80418083.673639717.03404.75
    SCC-088579.730-90416864.603640896.75400.81
    SCC-089100.280-90417902.043641795.63402.00
    SCC-090712.010-90417158.163640269.54403.01
    SCC-091457.200-90416847.073641052.16400.37
    SCC-092666.600-90417153.033640780.55401.50
    SCC-093546.810-90417864.863640754.08402.17
    SCC-093A959.200-90417864.863640754.08402.17
    SCC-095457.200-90417016.453640885.07401.10
    SCC-096981.760-90418345.983640330.64403.52
    SCC-097457.200-90417023.553640658.82401.59
    SCC-098ACTIVE0-90416873.743638932.35403.72
    SCC-099884.380-90417895.113640242.19406.54
    SCC-101413.000-90416492.953641976.09398.00
    SCC-102827.370-90417301.933640699.53401.80
    SCC-10360.960-90418199.683640384.64403.38
    SCC-1051029.300-90418199.683640385.64403.38
    SCC-106ACTIVE0-90416777.203641217.00399.00
    SCC-107ACTIVE0-90418147.513640568.26402.92
    SCC-108ACTIVE0-90417796.893641160.62400.95
    SCC-109ACTIVE0-90418685.343640283.12403.86
    SCC-110ACTIVE0-90418018.943640161.16403.74
      
    *Note – select drill holes located outside of the project area are not shown on the table.
  • Santa Cruz Project Drill Location

Gallery