Inventus Drills 4.4 g/t Gold and 0.09% Cobalt Over 7 Metres at Cobalt Hill
08 Abril 2021 - 9:54AM
Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) is pleased to announce assay results
from its drilling program at Cobalt Hill, part of its 100%-owned
Sudbury 2.0 project near Sudbury, Ontario.
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Drilling highlights include: |
|
CH-21-02: |
44 m of 1.3 g/t Gold,
0.04% Cobalt and 0.02%
Nickel |
|
|
Including 7 m of 4.4 g/t
Gold, 0.09% Cobalt and 0.03%
Nickel |
|
|
(with individual assays up to 0.29% Cobalt and
0.11% Nickel) |
|
|
|
|
CH-21-01: |
16 m of 0.7 g/t Gold,
0.04% Cobalt and 0.03%
Nickel |
|
|
(with individual assays up to 0.17% Cobalt and
0.22% Nickel) |
Inventus’ drilling at Cobalt Hill has confirmed
the occurrence of polymetallic gold-cobalt-nickel mineralization
enriched with rare earth elements (REEs). This type of
mineralization is indicative of a potential Iron Oxide Copper Gold
(IOCG) mineral system. IOCG systems typically occur in proximity to
magnetic, dense and conductive geological environments with
regional and/or structurally controlled alteration. The Sudbury 2.0
project, situated over the Temagami Geophysical Anomaly, with its
dense, magnetic, conductive signature, checks all of these boxes.
New geophysical modelling of historic magnetotelluric (MT) data
collected by Falconbridge in the 1990s, has illustrated an area of
conductivity extending towards surface below Cobalt Hill and the
Lake Zone (Figure 1). A similar conductive feature
is known to occur below the world-class Olympic Dam IOCG deposit,
where it is interpreted to be a metalliferous fluid pathway from a
deep conductive source.
The alteration and hydrothermal breccia at
Cobalt Hill appears pipe-shaped and is approximately 500 x 400
metres in size on surface with an apparent vertical plunge. Similar
to the Lake Zone, a very good correlation exists between sulfides,
mainly pyrite, and the polymetallic gold mineralization. Inventus
plans to conduct an induced polarization geophysical survey (IP)
over Cobalt Hill to identify areas of higher sulfide content.
"We are very encouraged by these results, as they
support our belief that the Temagami Geophysical Anomaly is a large
intrusion responsible for the mineralization. The presence of
cobalt, nickel and anomalous REEs is strong evidence for an
intrusion-related mineral system. Several other exploration
companies in the region have also made similar assertions of a
potential IOCG system, which indicates the breadth of the
exploration potential in the area. Using geophysics to trace the
mineralization below surface above the district-scale gravity,
magnetic and conductive anomaly on the Sudbury 2.0 property is the
logical next step,” said Stefan Spears, Chairman and
CEO.
Assay results from Cobalt Hill and a description
of the drill holes are provided below.
Drill hole CH-21-02 was
designed to test the mineralization at 200 metres depth where
historic drilling intersected gold mineralization but was not
sampled for cobalt or nickel. The hole intersected sodic and
potassic alteration from surface to 287 metres. Breccia and quartz
veins with variable sulfide mineralization were intersected from 84
to 116 metres and from 189 to 235 metres. Select assay intervals
are listed in Table 1 and a cross section is
provided in Figure 2.
Table 1. CH-21-02 Assay
Interval Summary.
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Co (%) |
Ni (%) |
CH-21-02 |
74.11 |
74.46 |
0.35 |
0.4 |
0.25 |
0.09 |
CH-21-02 |
183.37 |
183.94 |
0.57 |
3.3 |
0.17 |
0.04 |
CH-21-02 |
189.78 |
233.87 |
44.09 |
1.3 |
0.04 |
0.02 |
including |
198.61 |
205.64 |
7.03 |
4.4 |
0.09 |
0.03 |
and including |
198.61 |
199.25 |
0.64 |
17.1 |
0.14 |
0.05 |
and |
220.95 |
221.46 |
0.51 |
5.0 |
0.09 |
0.05 |
and |
228.95 |
231.66 |
2.71 |
2.2 |
0.13 |
0.04 |
and including |
230.98 |
231.66 |
0.68 |
3.9 |
0.29 |
0.11 |
*Intervals are core lengths, true widths are not
known.
Drill hole CH-21-01 tested the
near surface mineralization on the east shore of Jess Lake. The
hole intersected breccia and quartz veins with variable sulfide
mineralization from surface to 16 metres. Select assay intervals
are listed in Table 2 and a cross section is
provided in Figure 2.
Table 2. CH-21-01 Assay
Interval Summary.
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Co (%) |
Ni (%) |
CH-21-01 |
0 |
15.95 |
15.95 |
0.7 |
0.04 |
0.03 |
including |
1.55 |
2.00 |
0.45 |
2.3 |
0.02 |
n/s |
including |
10.47 |
11.42 |
0.95 |
0.5 |
0.14 |
0.17 |
and including |
10.91 |
11.42 |
0.51 |
0.5 |
0.17 |
0.22 |
including |
12.98 |
15.95 |
2.97 |
0.6 |
0.07 |
0.05 |
*Intervals are core lengths, true widths are not
known. n/s – no significant value
Figures 1 and 2.
http://www.inventusmining.com/s/Apr_8_Figures.pdf
For further information, please contact:
Mr. Stefan SpearsChairman and CEOInventus Mining Corp.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
130,500,000 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 assayed by SGS Laboratories. The samples reported were crushed
in their entirety to 75% passing -10 mesh, with one 500 g 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-MS/ICP-OES/AAS finish. Multielement assays were done by Sodium
Peroxide Fusion with ICP-OES/ICP-MS 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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