Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) is pleased to provide an update on
its ongoing exploration programs at its 100%-owned
Sudbury
2.0 project near Sudbury, Ontario.
Exploration Highlights:
- Rathbun surface
grab samples return up to 7.2 g/t palladium,
1.1 g/t platinum, 0.7 g/t gold,
1.0% copper, and 0.5%
nickel.
- Cobalt Hill 3D IP
survey identifies a large 600 m by 500 m anomaly with an untested
core that may extend to depth below the survey limit.
Rathbun Footwall Structure
A highly successful prospecting program at
Rathbun, including trenching, mapping, and sampling, has exposed
a Sudbury footwall structure extending along a strike
length of approximately 1.5 km (see Figure 1).
Grab samples of the mineralization along strike
returned up to 7.2
g/t palladium, 1.1
g/t platinum, 0.7
g/t gold, 1.0
% copper, 0.5
% nickel (see Table 1). The
geological structure has been named the Rathbun
Footwall Structure (RFS). It is composed of recrystallized
Sudbury breccia, metabreccia and inclusion-bearing quartz diorite,
the same geological units that host high-grade Ni-Cu-PGE sulfides
in footwall deposits around the Sudbury Basin. The high-temperature
alteration and partial melting of rocks within the RFS is the same
thermal process observed in Sudbury footwall deposits, where
high-temperature fluids transport high-grade mineralization into
the footwall.
An example of this type of high-grade
mineralization analogous to Sudbury footwall deposits occurs within
the RFS at the historic shaft and muck pile where sample assays
ranged 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.
Beginning this fall/winter, we plan to use
geophysics and drilling to identify and test targets along the
RFS.
Cobalt Hill 3D IP Survey
The results of the 3D induced polarization (IP)
survey at Cobalt Hill has identified a 600 m north-south by 500 m
east-west anomaly (see Figures 2 and 3). The
IP anomaly is in the center of the observed alteration and
brecciation at Cobalt Hill. It has a strong correlation with
Inventus’ surface mapping and drill intersections of the sulfide
breccia. 2021 drill hole CH-21-02 intersected the northern edge of
the anomaly and returned an intersection of 7
m of 4.4
g/t gold, 0.09% cobalt
and 0.03% nickel within 44
m of 1.3
g/t gold, 0.04% cobalt
and 0.02% nickel (see April 8th
2021 news release). The center of the IP anomaly occurs 200 m south
of drill hole CH-21-02 and begins at approximately 150 m depth.
Inventus is currently planning a winter drilling
program at Cobalt Hill to test the IP anomaly associated with the
mineral system at Cobalt Hill.
“The IP results from
Cobalt Hill are very encouraging and illustrate a sizeable untested
target that extends at depth. The IP anomaly correlates well with
the IOCG-type gold, cobalt, nickel and REE mineralization found on
the surface and intersected in drilling at the northern edge of the
anomaly in early 2021. This is a strong indication that the survey
results illustrate increased sulfide concentrations that may extend
below the lower limit of the IP survey. I am very excited to get
the drill spinning and explore this mineral system below
surface,” said Wesley Whymark,
VP of Exploration.
Property Airborne MT Survey
The property-wide airborne MT survey was
completed in August, and the final 3D inversion product was
finished in September. The MT data has provided Inventus with
valuable subsurface information above the Temagami Geophysical
Anomaly including an abundance of low resistivity structural
targets similar to the one that hosts the Cobalt Hill and Lake Zone
mineralization. Inventus is currently evaluating and prioritizing
the targets for further exploration.
Click here to view Figures 1-3:
http://inventusmining.com/s/IVS_Oct_7_Figs.pdf
Table 1. Selected Grab Sample Assays
from Rathbun
Sample ID |
Area |
Pd (g/t) |
Pt (g/t) |
Au (g/t) |
Cu (%) |
Ni (%) |
|
S00439514 |
|
250E |
7.2 |
|
0.3 |
|
0.55 |
|
0.30 |
|
0.13 |
|
|
S00439521 |
|
250E |
7.2 |
|
0.5 |
|
0.10 |
|
0.04 |
|
0.34 |
|
|
S00439519 |
|
250E |
4.6 |
|
0.4 |
|
0.04 |
|
0.03 |
|
0.36 |
|
|
S00439520 |
|
250E |
4.5 |
|
0.3 |
|
0.05 |
|
0.03 |
|
0.30 |
|
|
S00439522 |
|
250E |
4.2 |
|
0.3 |
|
0.06 |
|
0.05 |
|
0.37 |
|
|
S897297 |
|
50W |
4.1 |
|
1.1 |
|
0.59 |
|
0.69 |
|
0.17 |
|
|
S897270 |
|
550W |
3.4 |
|
0.4 |
|
0.27 |
|
0.79 |
|
0.46 |
|
|
S00439524 |
|
250E |
2.1 |
|
0.2 |
|
0.10 |
|
0.10 |
|
0.16 |
|
|
S00439503 |
|
150E |
2.0 |
|
0.4 |
|
0.05 |
|
0.01 |
|
0.14 |
|
|
S00439504 |
|
150E |
1.1 |
|
0.2 |
|
0.01 |
|
0.03 |
|
0.13 |
|
|
S897282 |
|
360W |
0.6 |
|
0.3 |
|
0.10 |
|
0.11 |
|
0.17 |
|
|
S897293 |
|
200W |
0.6 |
|
0.3 |
|
0.67 |
|
1.00 |
|
0.35 |
|
For further information, please contact:
Mr. Stefan SpearsChairman and CEOInventus Mining Corp.Tel: (647)
258-0395 x280E-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 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. Multi element analysis was done by ICP-MS
and ICP-AES.
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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