Inventus is expanding the
The adjoining Wolf Lake and Cobalt Hill properties consist of a 3.5 sq. km block of mineral leases with historic high-grade gold and copper drilling intersections. Flag acquired the property in 1980 and conducted various drill programs until 2001, reporting many high-grade drill intersections up to 16.6 g/t gold over 22.4 m in Hole WL-90-03, and 2.5% copper over 22.7 m in Hole WL-83-28.
Inventus collected five surface grab samples of mineralization from Cobalt Hill, which returned assays ranging from 0.02 to 0.25% cobalt, 0.02 to 0.34% nickel and 0.04 to 2.8 g/t gold. Grab samples are not representative of the mineralization hosted on the property. Potential for cobalt, nickel, platinum and palladium mineralization exists at Cobalt Hill and Wolf Lake, but was not evaluated by Flag’s exploration.
Table 1 and 2 below show select historical drill core assays from Wolf Lake and Cobalt Hill. The historical Flag drilling data has been compiled from the publicly available assessment records of the
Table 1. Select Historical Drilling Assays from Wolf Lake
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) |
WL-81-11 | 130.60 | 131.80 | 1.20 | 58.2 | - |
WL-81-12 | 121.60 | 124.50 | 2.90 | 9.6 | 0.6 |
WL-81-13 | 70.40 | 73.50 | 3.10 | 7.6 | 0.4 |
and | 131.20 | 134.40 | 3.20 | 6.2 | - |
WL-81-14 | 60.40 | 63.70 | 3.30 | 11.7 | 0.5 |
WL-81-18 | 4.90 | 6.60 | 1.70 | 31.4 | 1.7 |
WL-83-16 | 54.25 | 55.78 | 1.53 | 10.6 | - |
WL-83-28 | 39.93 | 62.64 | 22.71 | 1.1 | 2.5 |
WL-83-33 | 29.26 | 42.98 | 13.72 | 2.9 | 1.4 |
WL-83-34 | 49.38 | 57.91 | 8.53 | 3.5 | 1.9 |
WL-84-01 | 66.45 | 67.97 | 1.52 | 5.8 | 5.4 |
WL-84-02 | 20.42 | 26.52 | 6.10 | 10.5 | - |
WL-85-03 | 193.85 | 249.33 | 55.48 | 1.8 | - |
WL-86-01 | 220.52 | 220.98 | 0.46 | 687.3 | - |
WL-90-01 | 30.78 | 49.99 | 19.21 | 7.5 | - |
including | 30.78 | 31.24 | 0.46 | 20.3 | - |
including | 31.70 | 33.07 | 1.37 | 21.3 | - |
including | 34.59 | 35.05 | 0.46 | 15.7 | - |
including | 37.18 | 39.32 | 2.14 | 12.3 | - |
including | 42.60 | 43.89 | 1.29 | 30.8 | - |
WL-90-03 | 31.70 | 54.10 | 22.40 | 16.6 | - |
including | 31.70 | 36.57 | 4.87 | 6.9 | 1.7 |
including | 37.80 | 42.67 | 4.87 | 61.9 | - |
including | 37.80 | 38.86 | 1.06 | 154.9 | - |
including | 39.32 | 41.15 | 1.83 | 61.6 | - |
WL-90-05 | 47.70 | 49.07 | 1.37 | 31.4 | - |
WL-90-05 | 54.10 | 55.93 | 1.83 | 32.9 | - |
WL-90-17 | 34.90 | 52.54 | 17.64 | 2.4 | 1.1 |
including | 34.90 | 40.31 | 5.41 | 5.5 | 1.0 |
WL-96-01 | 50.29 | 56.39 | 6.10 | 14.9 | - |
including | 53.34 | 56.39 | 3.05 | 21.7 | - |
WL-97-07 | 40.48 | 57.09 | 16.61 | 3.1 | 2.1 |
WL-97-08 | 41.88 | 49.87 | 7.99 | 12.5 | 0.6 |
WL-97-11 | 43.04 | 52.03 | 8.99 | 7.1 | 0.9 |
including | 43.04 | 46.09 | 3.05 | 16.8 | 0.5 |
WL-01-03 | 30.42 | 53.00 | 22.58 | 4.6 | 0.4 |
including | 38.04 | 42.61 | 4.57 | 9.2 | 0.4 |
WL-01-04 | 30.24 | 41.15 | 10.91 | 14.2 | - |
including | 31.33 | 36.88 | 5.55 | 23.4 | 1.0 |
and | 39.62 | 41.15 | 1.53 | 9.0 | 3.7 |
* Assays intervals are converted from feet to metres, and Au assays are converted from ounce per tonne to gram per tonne. Copper assays were not obtained for intervals marked with (-).
Table 2. Select Historical Drilling Assays from Cobalt Hill
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) |
A81-01 | 2.40 | 43.00 | 40.60 | 2.3 |
including | 25.30 | 43.00 | 17.70 | 4.6 |
and | 38.40 | 43.00 | 4.60 | 10.0 |
A83-01 | 97.38 | 111.40 | 14.02 | 2.5 |
including | 105.77 | 108.36 | 2.59 | 10.0 |
A83-07 | 72.09 | 92.35 | 20.26 | 4.5 |
including | 83.97 | 92.35 | 8.38 | 9.5 |
A83-11 | 55.32 | 58.06 | 2.74 | 3.8 |
and | 60.96 | 64.01 | 3.05 | 5.0 |
A83-12 | 80.31 | 86.26 | 5.95 | 6.4 |
including | 80.31 | 81.53 | 1.22 | 22.9 |
A83-13 | 80.01 | 100.26 | 20.25 | 2.1 |
A83-14 | 62.33 | 79.86 | 17.53 | 3.3 |
including | 77.11 | 79.86 | 2.75 | 13.0 |
A83-17 | 1.83 | 67.36 | 65.53 | 1.5 |
A88-51 | 21.18 | 31.24 | 10.06 | 3.8 |
A88-55 | 71.91 | 77.16 | 5.25 | 12.3 |
A88-62 | 215.70 | 233.71 | 18.01 | 3.8 |
A89-04 | 5.00 | 62.00 | 57.00 | 1.2 |
including | 32.50 | 46.50 | 14.00 | 3.0 |
* Assays intervals are converted from feet to metres, and Au assays are converted from ounce per tonne to gram per tonne.
Rathbun Lake Property
Inventus’ research of the high-grade showing has indicated that the mineralization is related to a
Table 3. Select Historical Assays published by Rowell and Edgar in 1986
Sample ID | Cu (%) | Ni (%) | Pt (g/t) | Pd (g/t) | Au (g/t) |
R-1 | 19.9 | 0.22 | 1.8 | 23.0 | 0.3 |
R-2 | 9.1 | 0.22 | 0.1 | 35.0 | 0.9 |
R-3 | 8.3 | 0.26 | 18.0 | 37.0 | 1.3 |
R-4 | 4.7 | 0.16 | 33.0 | 19.0 | 1.0 |
R-5 | 2.3 | 0.36 | 0.2 | 12.0 | 2.8 |
3 | 7.0 | 0.21 | 3.4 | 23.1 | 11.3 |
3a | 17.3 | - | 2.8 | 29.7 | 0.1 |
5 | 5.5 | 0.50 | 1.2 | 23.1 | 6.3 |
5a | 19.9 | 0.11 | 0.7 | 5.3 | - |
6 | 7.3 | 0.35 | 2.8 | 16.9 | - |
9 | 1.3 | 0.29 | 2.2 | 5.0 | - |
(-) No assays available.
Inventus collected seven surface grab samples from around the shaft on the Rathbun property in 2019, which returned assays ranging from 6.3 to 62.5 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 7.2 g/t gold, and 1.0 to 13.0 g/t silver. Grab samples are not representative of the mineralization hosted on the property. See Table 4 for 2019 Rathbun sample assays.
Table 4. Inventus Assays of the Rathbun Mineralization
Sample ID | Cu (%) | Ni (%) | Pt (g/t) | Pd (g/t) | Au (g/t) | Ag (g/t) |
B00168221 | 13.4 | 0.1 | 1.7 | 35.8 | 1.2 | 13.0 |
B00168649 | 0.8 | 0.5 | 1.3 | 14.4 | 1.9 | 1.0 |
B00168650 | 1.6 | 0.3 | 1.0 | 6.3 | 1.9 | 1.0 |
B00168651 | 3.3 | 0.3 | 5.7 | 35.7 | 3.8 | 3.0 |
B00168652 | 22.8 | 0.1 | 1.0 | 62.5 | 0.5 | 10.0 |
B00168653 | 13.2 | 0.4 | 5.1 | 28.0 | 7.2 | 7.0 |
B00168654 | 12.8 | 0.4 | 18.4 | 16.8 | 2.8 | 7.0 |
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Inventus is a mineral exploration and development company focused on the world-class mining district of
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The samples collected by Inventus from Cobalt Hill and
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