Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) is pleased to report on the first
pass prospecting effort on its 100% owned Sudbury 2.0 Property,
located 40 km northeast of Sudbury, Ontario. Five new gold-copper
showings were identified while mapping and sampling on its Property
this summer. Highlights include:
- A mafic dyke with gold and copper mineralization was mapped on
surface over a distance of 2.6 km, and was founds
to have undocumented pre-1900’s mine workings.
- At Laura Lake, a grab sample from a historical prospect pit
returned an assay of 7.5 g/t gold and 0.2%
copper.
- Several new areas of outcropping mineralized hydrothermal
breccia were found with initial samples returning assays of up to
1.4 g/t gold and 1.3% copper.
Inventus’ prospecting and mapping program has
identified multiple new showings of mineralized hydrothermal
breccia on the Sudbury 2.0 Property. The program to evaluate and
discover new areas of hydrothermal alteration and brecciation
radiating from the Temagami Magnetic Anomaly has proven to be quite
successful. Inventus’ first pass of prospecting has outlined 5 new
showings on the property (Select assays from three of the showings
can be viewed in Table 1 and location maps in
Figures 1-4).
Table 1. Select 2019 Prospecting Assays
Results
Sample ID |
Location |
Au g/t |
Cu % |
S2_61 |
Laura Lake Showing |
7.5 |
0.2 |
BVL-01 |
Big Valley Lake Showing |
0.2 |
- |
BVL-03 |
0.3 |
0.4 |
BVL-10 |
1.4 |
1.3 |
BVL-15 |
0.8 |
- |
BVL-16 |
0.3 |
0.4 |
S2_130 |
Laura Creek Mafic Dyke |
0.9 |
- |
S2_131 |
- |
0.1 |
S2_132 |
0.4 |
- |
S2_133 |
1.6 |
- |
S2_134 |
1.7 |
- |
- No Significant Assay
A description of the copper-gold showings is
listed below:
- Laura Creek Mafic Dyke: Undocumented mine
workings that would have predated the 1900’s were discovered by
Inventus while prospecting. The old mine workings consist of a 30
ft. decline shaft and a blast pit that is located 200 m to the
south. Both mine workings were targeting mineralized alteration and
veining that occurs within the mafic dyke. Since the discovery of
the mafic dyke, Inventus has mapped it along strike for 2.6
km and has determined that the alteration and veining is
consistent along the entire segment (Figure 2).
The first batch of samples taken from the old mine workings
returned assays up to 1.7 g/t gold and 0.14%
copper. Inventus plans to prospect the dyke in detail and
evaluate its potential for coarse gold, as one sample from the
shaft had visible gold.
- Big Valley Lake Showing: Old patented mining
claims in the area, dating back to the 1890’s, led to the discovery
of an extensive area of mineralized hydrothermal breccia
(Figure 3). The mineralized breccia returned
assays of 1.4, 0.8, 0.3, 0.3 and 0.2 g/t gold and 1.3 and
0.4% copper. The hydrothermal alteration and brecciation
have been mapped over an extensive area measuring 200 m
east-west by 600 m north-south and appears to occur in a
north-south structure. The Laura Creek Dyke, which could occur 250
m to the west of the showing may be related to this mineralization.
The Big Valley Lake Showing presents itself as an attractive
exploration target.
- Laura Lake Showing: An old prospecting trench
on the southeast shore of Laura Lake was located by Inventus and
sampled (Figure 4). One sample from the old
workings returned an assay of 7.5 g/t gold and 0.2%
copper. The showing has no records of exploration other
than the old trench that could predate the 1900’s. Inventus plans
to prospect, map and sample the area in more detail.
- Doon Lake and North Arm Showings: Hydrothermal
breccia and alteration, similar to the other showings, occurs at
both the Doon Lake and North Arm areas. Inventus acquired
additional claims to cover both areas in July of 2019. Inventus
plans to prospect and map both areas for gold-copper mineralization
associated with the observed alteration and brecciation.
The discovery of these new gold-copper showings
over quite an extensive area on the Sudbury 2.0 Property has
provided additional evidence that the Temagami Magnetic Anomaly
(TMA) may be the fluid source for this mineralized hydrothermal
system. Inventus initially acquired the Sudbury 2.0 Property to
explore above the TMA for evidence of a mineralized
mafic/ultramafic intrusion. The discovery of a mafic dyke with
gold-copper mineralization at Laura Creek, located in the core of
the TMA, is the most significant geological find on the project to
date. Initial geochemistry of the dyke has warranted intensive
prospecting, mapping and sampling of this new dyke that may
ultimately reveal the first geological insight into the source of
the TMA and its economic potential.
Inventus plans to continue prospecting and
mapping at the newly discovered showings above the TMA looking for
dykes, alteration and brecciation along favorable host structures
and geological contacts. As the targets develop, an initial drill
program may be warranted later this year.
To view Figures 1-4 click here:
http://www.inventusmining.com/s/IVS-Sept-12-Figures.pdf
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 110,301,069 common
shares outstanding (120,316,669 shares on a fully diluted
basis).
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
geological technical content of this news release is Wesley
Whymark, P.Geo., who have reviewed and approved the technical
disclosure in 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
in Mississauga, Ontario. The samples reported were crushed in their
entirety to 75% passing -10 mesh, with one 250 g subsample split
and pulverized to 85% passing -200 mesh. One 30 g aliquot was taken
from the subsample for fire assay (FA) with an ICP-MS finish for
gold assay. Copper assays were done by Sodium Peroxide Fusion with
ICP-OES/ICP-MS 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 at
Pardo, the inability to complete a feasibility study which
recommends a production decision, the preliminary and limited
nature of metallurgical test results (including the result of the
bulk sample as described herein), delays in obtaining or failures
to obtain required governmental, environmental or other project
approvals, political and legal 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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