Ivanhoe Electric to Implement Advanced Software at Tintic Copper-Gold-Silver Project

Ivanhoe Electric Announces Application of Latest Computational Geosciences Inc. Software at Tintic Copper-Gold-Silver Project in Utah

Recent Advancements in CGI’s Machine Learning-based Software Improve Quality and Speed of Typhoon™ Data Processing

Updated Interpretation of Typhoon™ Survey Data at Tintic Resulted in Refined Drill Targets

Ivanhoe Electric and CGI Are Utilizing the Latest Software in Recent U.S. Surveys and in the Company’s Saudi Arabian Exploration Joint Venture with Ma’aden

PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”) (NYSE American: IE; TSX: IE) and its subsidiary, Computational Geosciences Inc. (“CGI”), are pleased to provide an update on CGI’s proprietary software applications used to interpret Typhoon™ data.

CGI continually improves its proprietary algorithms, leveraging advanced machine learning data processing technologies, to deliver higher quality Typhoon™ geophysical inversion models with quicker turnaround times. Ivanhoe Electric owns 94% of CGI.

Taylor Melvin, President and CEO, commented: “We believe Computational Geosciences has the mining industry’s most powerful machine learning software application available.

CGI’s proprietary algorithms are capable of analyzing the massive amounts of data generated by our ground-based Typhoon™ geophysical surveying system.

We are excited to apply the same cutting-edge version of CGI’s software at Tintic that we are currently using in Saudi Arabia and at our other more recent American exploration projects.

CGI’s latest software improvements allow us to analyze more data, more quickly, and generate clearer models to guide future discovery.

We are now beginning to test the refined targets around the historically productive Mammoth copper-gold-silver mine at Tintic, Utah, with directional drilling equipment.”

CGI’s latest software tools improves processing of Typhoon™ data

Through continuous research and development, CGI’s innovations harnesses the power of machine learning algorithms to improve data processing capacity, processing times, and to enhance the signal-to-noise ratio of input data through improved data utilization.

This effort has led to faster inversion model delivery times and improved three-dimensional inversion models. CGI continues to lead the transformation of geophysical data processing and three-dimensional inversion.

Updated Typhoon™ inversion modeling improves processing time, validates exploration targets, and supports continued mineral exploration

CGI recently reprocessed the 2019 Tintic Typhoon™ data, delivering an updated three-dimensional model that validated Ivanhoe Electric’s current exploration strategy by ratifying existing target areas and identifying new anomalies for further investigation.

The new inversion shows an additional chargeable and conductive response that is associated with the deepest levels of the Mammoth and Grand Central Mines, and extends to depth. Ivanhoe Electric is actively exploring the Deep Mammoth area with diamond drilling.

Figure 1. North-South cross section from Mammoth-Grand Central through to the Silver City & Sunbeam areas. Relevant drilling over the updated Typhoon™ chargeability inversion with historical mine development and potential extensions beneath the water table.

Figure 2. Tintic Project map showing Ivanhoe Electric drill hole locations, key historical mines, mapped fissure veins, and carbonate replacements over Typhoon™ chargeability anomalies.

CGI’s latest processing technologies are being applied at Ivanhoe Electric’s 50/50 joint venture with Ma’aden in Saudi Arabia, and at Ivanhoe Electric’s other surveys in the United States.

Typhoon™ data from the Umm Ash Shalahib exploration licenses as announced January 9, 2024,that identified three chargeability anomalies that correlate very well with known geology and mineralization, representing high priority targets. 

In the U.S., Ivanhoe Electric recently conducted a ~10km²Typhoon™ survey at its Hog Heaven project in Montana, announced February 22, 2024. 

CGI completed the inversion utilizing its advanced machine learning algorithms. Ongoing exploration drilling continues to intersect high-sulfidation epithermal precious-metals-rich polymetallic mineralization relating to Typhoon™ anomalies.

The updated inversion model validates Ivanhoe Electric’s past exploration results and presents new targets for subsequent follow-up.

Ivanhoe Electric will be holding regular site tours throughout the spring and summer months, please contact our Senior Vice President of Exploration, Graham Boyd, to arrange.

Photo of diamond drill rig on site at the Tintic Copper-Gold Project, Mammoth, Utah