Inventus Provides Exploration Updates at Pardo and Sudbury 2.0 Projects

Monday, 26. July 2021 21:46

TORONTO, July 26, 2021 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide an update on its 2021 exploration programs at its 100%-owned Pardo and Sudbury 2.0 Projects near Sudbury, Ontario.

Recent Exploration Highlights Include:

  • Pardo Channel Sampling Results:
    5.5 m of 10.2 g/t gold, including 1.0 m of 47.9 g/t gold
    2.0 m of 11.8 g/t gold, including 1.0 m of 22.6 g/t gold
    2.5 m of 9.4 g/t gold, including 0.5 m of 26.4 g/t gold
    3.0 m of 6.2 g/t gold, including 1.5 m of 9.1 g/t gold
    2.0 m of 7.4 g/t gold
    2.0 m of 7.0 g/t gold
  • Six mini-bulk samples from Pardo are currently in the lab for assays
  • Discovery of the mineralized host structure at the Rathbun high-grade Ni-Cu-PGE occurrence
  • Completion of the Airborne MT survey over the Sudbury 2.0 Project
  • 3D IP survey at Cobalt Hill currently underway

Pardo Exploration Program

The first phase of sampling in 2021 at the Pardo project, including channel sampling and a mini-bulk sample trial program, has now been complete. The cost-effective sampling data generated from this program is expected to assist with a maiden resource estimate and de-risk the more extensive 50,000-tonne bulk sampling program planned for the project.

Six mini-bulk samples, weighing approximately 3.4 tonnes each, were obtained from the 007 occurrence. The samples were crushed and representative splits from each were delivered to SGS Laboratories for assay. Following a successful trial, a second phase of mini-bulk sampling is planned. The mini-bulk samples can be deployed across the project on surface exposures of the mineralized conglomerate reef and provide more reliable sampling data with significantly reduce gold grade variability.

In addition to the mini-bulk samples, channel samples were cut from surface exposures of the mineralized conglomerate reef where possible (Figure 1). The channel samples were cut from top to bottom of the reef, emulating a diamond drill hole. A total of 17 channel samples were taken from the Trench 2 location. Assay results from the channels have been received and are shown in Table 1. The Trench 2 samples had an average thickness of 2.4 metres and a weighted average grade of 4.9 g/t gold. Channel lengths are approximately true thickness. The channel sampling data will be used for resource calculation and provide guidance for the future bulk sampling program.

Table 1. Channel Sample Assay Interval Summary

Channel IDChannel Length (m)Gold (g/t)
CH-21-015.510.2
including1.047.9
CH-21-023.06.1
including1.59.1
CH-21-094.51.2
including1.52.7
CH-21-101.54.8
CH-21-113.03.0
including0.56.5
CH-21-122.59.4
including0.526.4
CH-21-131.52.8
CH-21-141.00.2
CH-21-151.51.2
CH-21-162.02.6
including0.57.3
CH-21-172.02.0
CH-21-182.07.4
including0.513.2
CH-21-192.07.0
including1.010.6
CH-21-202.51.3
CH-21-213.52.4
CH-21-221.02.1
CH-21-232.011.8
including1.022.6

Sudbury 2.0 Exploration Program

Inventus has completed a state-of-the-art property-wide airborne magnetotelluric (MT) survey on the Sudbury 2.0 Project. Final results from the survey are expected in the coming weeks. A 3D induced polarization (IP) survey at Cobalt Hill is currently underway with completion expected in early August. These geophysical programs are expected to provide Inventus with much better exploration targeting both regionally and locally. Follow-up work, including trenching and drilling, is planned later this year.

Rathbun

Inventus is currently conducting a prospecting and mapping program at the high-grade Ni-Cu-PGE Rathbun sulfide occurrence. The sulfide occurrence was mined in the 1890s where a historic shaft is present. Past sampling by Inventus of the shaft area returned assays ranging from 6.3 to 74.4 g/t palladium, 1.0 to 18.4 g/t platinum, 0.8 to 22.8% copper, 0.1 to 0.5% nickel, 0.5 to 13.3 g/t gold, and 1.0 to 13.0 g/t silver.

The recent prospecting work has led to the discovery of a Sudbury-type breccia structure that hosts the sulfide occurrence and extends for at least 700 metres (Figure 2). Historic exploration efforts at Rathbun did not establish that the high-grade sulfide occurrence was a Sudbury-type mineral system. This breakthrough by Inventus has led to the successful identification of this complex geological system and its continuity along strike. Prospecting of the Sudbury-type breccia structure is currently ongoing, and the first assay results are expected in August.

Click here to view Figure 1 and 2: http://inventusmining.com/s/IVS_PR_Jul_26.pdf

For further information, please contact:

Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
E-mail: info@inventusmining.com

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 133 million common shares outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

The Qualified Person responsible for the geological technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

Technical Information 

The samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay by SGS Laboratories. The samples reported were crushed in their entirety to 75% passing -10 mesh, with one 1 kg subsample split and pulverized to 85% passing -200 mesh. One 50 g aliquot was taken from the subsample for fire assay (FA) with an ICP-AES finish. Samples over 10 g/t gold were subject to a 50 g aliquot FA with gravimetric finish.

Forward-Looking Statements

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


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