Inventus Completes First Phase of Drilling at the Dorland Prospect
20 Julio 2023 - 9:34AM
Inventus Mining Corp. (TSX VENTURE: IVS)
(“Inventus” or the “Company”) is pleased to announce the completion
of its initial drilling program at the 100%-owned Dorland
Co-Au-Cu-Ni Prospect, located 36 km northeast of Sudbury, Ontario.
Highlights:
- The Company successfully tested the
mineralization and induced polarization geophysical anomalies at
the Dorland Co-Au-Cu-Ni prospect intersecting large zones of
sulphide breccia, including multiple zones of massive sulphide. A
total of 10 holes were completed for 1,014 metres of drilling with
all 10 holes intersecting a zone of alteration and sulphide
breccia. The program was designed to test the continuity below and
around the polymetallic mineralization found at surface where
select surface grab samples have returned assays up to
1.2% cobalt, 2.6 g/t gold,
0.51% copper and 0.1%
nickel.
- Inventus received approval for an
exploration funding grant of up to $200,000 through the Ontario
Junior Exploration Program (“OJEP”).
Dorland Drilling Program
The drill core is currently being processed and
approximately 240 m of the core will be sampled and assayed for
polymetallic cobalt, gold, copper, and nickel mineralization. The
drilling intersected similar geological units found on the surface
consisting of a zone hydrothermal alteration within unaltered
diamictites of the Gowganda sediments. The alteration zone trends
east to west and dips south at approximately 60 degrees. The
alteration consists of albite, carbonate, and quartz (sodic, calcic
and silica alteration), with a core of hydrothermal sulphide
breccia. The sulphide breccias are composed of clasts of the host
rock with the addition of k-feldspar, chlorite +/- pyrite,
magnetite and hematite in the breccia matrix (potassic and iron
alteration). Assay results from the drilling are expected over the
next 3 to 6 weeks.
The location of the drilling is provided in
Figure 1. A description of some of the better
holes based on visual inspection include DP-23-04, DP-23-06,
DP-23-08 and are described below:
DP-23-04 – Intersected a 38.5 m zone of sulphide
breccia from 16 to 54.5 metres that included 5 sections of massive
pyrite ranging from 0.2 m to 1.1 m. Photos of the core are
presented in Figure 2.
DP-23-06 – Intersected a 36 m zone of sulphide
breccia from 42 to 78 m. Photos of the core are presented in
Figure 3.
DP-23-08 – Intersected multiple zones of sulphide
breccia including one zone from 107 to 110 m with strong hematite
and potassic alteration. This type of alteration is characteristic
of classic IOCG-type mineral systems and is the first observation
of this type of alteration on the Sudbury 2.0 project. Photos of
the core are presented in Figure 4.
Wesley Whymark, Vice-President Exploration,
commented, “The large intersections of sulphide breccia and
zones of massive sulphide below the historic shafts where surface
mineralization occurs is very encouraging and suggest continuity of
the mineralization at depth. The presence of hematite and potassic
alteration in areas of the sulphide breccia is a very interesting
development as this alteration is characteristic of classic iron
oxide copper gold (“IOCG”) mineral systems and has not been seen on
the Sudbury 2.0 project until now.”
OJEP Funding
Inventus has been accepted into the Ontario
Junior Exploration Program (“OJEP”), an exploration funding grant
from the Ontario Government. The program provides grants of up to
$200,000 to promote the exploration and discovery of critical
metals in Ontario.
Link to
Figures: http://inventusmining.com/s/IVS_July20_Figures.pdf
For further information, please contact:
Mr. Stefan SpearsChairman and CEOInventus Mining Corp.
E-mail: stefan@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 Critical Mineral
Project located northeast of Sudbury. Pardo is the first important
paleoplacer gold discovery found in North America. Inventus has
approximately 164.8 million common shares outstanding.
Visit http://www.inventusmining.com for more
information.
Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
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 Inventus’ Vice-President
Exploration, Wesley Whymark, P.Geo., who has reviewed and approved
the technical disclosure in this news release on behalf of the
Company.
QA/QC
Procedures have been implemented by Inventus to
assure Quality Assurance and Quality Control (QA/QC) of all drill
core samples. Drill core is obtained from the diamond drill in
sealed core trays and transported by Inventus personnel to our core
processing facility. Core is processed, logged and sample intervals
are marked for diamond saw cutting. Half core samples and lab
identification numbers are verified prior to samples being sealed
into plastic bags. Certified reference materials and blank material
is inserted into the sample sequence alternating every 10 samples.
Batches of 15 to 25 samples are placed into sandbags and sealed
prior to transport by Inventus personnel to Agat Laboratories an
ISO accredited assay laboratory.
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.
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