Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) announces it has received the
remaining assays for its recent drill program at the 100% owned
Pardo Paleoplacer Gold Project (“Pardo”) near
Sudbury, Ontario. A total of 35 holes at the
007
Zone were completed including 7 step out holes (see Figure
1), which are reported below.
Hole ID |
From (m) |
To (m) |
Length (m) |
Gold Grade (g/t) |
007-18-30 |
8.83 |
10.1 |
1.27 |
0.99 |
007-18-31 |
3.25 |
5.5 |
2.25 |
7.89 |
Including |
3.25 |
4.03 |
0.78 |
21.2 |
007-18-32 |
4.54 |
7.7 |
3.16 |
2.59 |
Including |
5.31 |
7.15 |
1.84 |
4.14 |
007-18-33 |
4.15 |
8.62 |
4.47 |
0.85 |
Including |
5.78 |
6.38 |
0.6 |
3.66 |
Holes 29 and 34 did not encounter significant
values, and hole 35 was not completed. All holes were drilled
vertically. Intercept lengths are true thickness. Gold grades are
determined by fire assay and gravimetric methods; see note on
Technical Information.
The objective of this drill program was to
provide drill data for the next phase of bulk sampling and
demonstrate continuity of the mineralized conglomerate. The first
28 closely spaced drill holes (released on Nov 22, 2018) delineated
a volume of approximately 6,000 tonnes of mineralized material (see
the 007 Bulk Sample Outline on Figure 1).
Step out holes 31, 32 and 33 have all
demonstrated that the mineralized boulder conglomerate reef extends
towards the north under shallow cover. These new holes combined
with previous drilling supports our interpretation that a highly
enriched mineralized boulder conglomerate reef extends for 350 m
North from the 007 Zone.
Click here to view Figure:
http://www.inventusmining.com/s/Figure-1-Dec-19.pdf
About Inventus Mining Corp.
Inventus is a mineral exploration company
focused on the world-class mining district of Sudbury, Ontario. Our
principal asset is a 100% interest in the Pardo Paleoplacer Gold
Project located 65 km northeast of Sudbury. Pardo is the first
important paleoplacer gold discovery found in North America.
Inventus has 110,301,069 common shares outstanding (123,925,235
shares on a fully diluted basis).
Visit http://www.inventusmining.com for more
information.
For further information, please contact:
Mr. Stefan SpearsChairman and CEOInventus Mining Corp.Tel: (647)
258-0395 x280E-mail: info@inventusmining.com
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. No stock exchange, regulation services
provider, securities commission or other regulatory authority has
approved or disapproved the information contained in this news
release.
Qualified Person
The Qualified Person responsible for the
technical content of this news release is Wesley Whymark, P.Geo.,
Chief Geologist, who has reviewed and approved this news release on
behalf of the Company.
Technical Information
The samples in this release were transported in
secure sealed bags for preparation and assay by Agat Laboratories
located in Mississauga, Ontario. A standard or a blank was inserted
every 20 samples or less. The samples reported were crushed in
their entirety to 75% passing -10 mesh, with one 1 kg subsamples
split and pulverized to 85% passing -200 mesh. Two 50-gram aliquots
were taken for fire assay (FA) with an atomic absorption (AA)
finish. Results higher than 10 g/t were re-analyzed with a
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. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, the Company’s objectives, goals or
future plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration
and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could
cause actual results to differ materially from such forward-looking
information include, but are not limited to the failure to identify
mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project
approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in the Company’s public documents filed on SEDAR. 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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