11:04 AM EST - Ivanhoe Mines' : Executive Co-Chairman Robert Friedland, and President and Chief Executive Officer Marna Cloete announced today an update on exploration activities at the company's new joint venture exploration project, in the Chu-Sarysu Basin, Kazakhstan. The Chu-Sarysu is the world's third-largest sediment-hosted copper basin. Last Ferbruary, Ivanhoe Mines and UK-based private company, Pallas Resources entered into an exploration joint venture to explore a highly-prospective package of licences covering 16,000 km2 of the basin. The licence package area is over seven times larger than that of Ivanhoe's Western Forelands Exploration Project, in the Democratic Republic of the Congo. Ivanhoe Mines'
shares T.IVN are trading down $0.47 at $12.00.
