Inventus is currently planning the first phase winter exploration program on the
An updated presentation on the
Recent mapping and sampling at Cobalt Hill has led to the discovery of a new high-grade area 300 m southeast of the main occurrence (see Table 2 for historical drill assays from the main occurrence). Selective surface grab samples from this new target returned assay values of 15.5 and 16.0 g/t gold. Additional samples taken in the area are currently pending assays. Inventus plans to test this new target during the upcoming winter drill program. Grab samples are not representative of the mineralization in the area.
Table 1 and 2 below show select historical drill core assays from
Table 1. Select Historical Drilling Assays from
Drill Hole ID | From (m) | To (m) | Core Length (m) | Gold (g/t) | Copper (%) |
WL-81-13 | 49.1 | 80.6 | 31.5 | 2.0 | - |
Including | 70.4 | 73.5 | 3.1 | 7.6 | - |
WL-81-14 | 60.4 | 69.8 | 9.4 | 4.7 | - |
Including | 60.4 | 63.7 | 3.3 | 11.7 | - |
WL-81-18 | 1.8 | 11.1 | 9.3 | 6.6 | - |
Including | 4.9 | 6.6 | 1.7 | 31.4 | - |
WL-83-28 | 39.9 | 62.6 | 22.7 | 1.1 | 2.49 |
WL-84-02 | 8.5 | 26.5 | 18.0 | 4.8 | - |
Including | 20.4 | 26.5 | 6.1 | 10.5 | - |
WL-86-01 | 220.5 | 226.8 | 6.3 | 52.9 | - |
Including | 220.5 | 221.0 | 0.5 | 687.3 | - |
WL-90-01 | 30.8 | 50.0 | 19.2 | 7.5 | - |
Including | 31.7 | 33.1 | 1.4 | 21.3 | - |
Including | 42.6 | 43.9 | 1.3 | 30.8 | - |
WL-90-03 | 31.7 | 54.1 | 22.4 | 16.6 | - |
Including | 37.8 | 42.7 | 4.9 | 61.9 | - |
WL-90-05 | 52.6 | 55.9 | 3.4 | 18.5 | - |
Including | 54.1 | 55.9 | 1.8 | 32.9 | - |
WL-90-17 | 34.9 | 52.5 | 17.6 | 2.4 | 1.13 |
WL-90-18 | 29.6 | 43.8 | 14.2 | 3.0 | - |
Including | 34.9 | 43.0 | 8.1 | 4.8 | - |
WL-96-01 | 50.3 | 56.4 | 6.1 | 14.9 | - |
Including | 53.3 | 56.4 | 3.0 | 21.7 | - |
WL-97-07 | 40.5 | 57.1 | 16.6 | 3.1 | 2.11 |
WL-97-08 | 40.9 | 51.4 | 10.5 | 9.5 | - |
Including | 48.0 | 49.9 | 1.9 | 24.1 | - |
WL-97-11 | 43.0 | 52.0 | 9.0 | 7.1 | 0.86 |
WL-01-02 | 37.5 | 58.8 | 21.3 | 1.5 | 1.66 |
WL-01-03 | 30.4 | 53.0 | 22.6 | 4.6 | 0.38 |
WL-01-04 | 30.2 | 41.1 | 10.9 | 14.2 | 1.08 |
WL-06-10 | 30.2 | 46.9 | 16.8 | 4.1 | 0.58 |
* Core intervals are converted from feet to metres, and gold assays are converted from ounce per ton to gram per tonne. Historical copper assays were not taken for intervals marked with (-). Results are core lengths, true widths are not known.
Table 2. Select Historical Drilling Assays from Cobalt Hill
Drill Hole ID | From (m) | To (m) | Core Length (m) | Gold (g/t) |
A81-01 | 2.4 | 43.0 | 40.6 | 2.3 |
including | 25.3 | 43.0 | 17.7 | 4.6 |
including | 38.4 | 43.0 | 4.6 | 10.0 |
A83-01 | 97.4 | 111.4 | 14.0 | 2.5 |
including | 105.8 | 108.4 | 2.6 | 10.0 |
A83-07 | 72.1 | 91.7 | 19.6 | 1.9 |
including | 85.9 | 91.7 | 5.7 | 4.5 |
A83-12 | 77.7 | 88.5 | 10.8 | 3.7 |
including | 80.3 | 81.5 | 1.2 | 22.9 |
A83-13 | 80.0 | 100.3 | 20.3 | 2.1 |
including | 82.9 | 85.8 | 2.9 | 4.1 |
A83-14 | 62.3 | 79.9 | 17.5 | 3.3 |
including | 77.1 | 79.9 | 2.8 | 13.0 |
A83-20 | 255.1 | 273.0 | 17.8 | 2.3 |
including | 267.0 | 270.2 | 3.2 | 6.8 |
A84-01 | 7.0 | 51.2 | 44.2 | 1.6 |
including | 40.8 | 43.9 | 3.1 | 6.1 |
including | 46.6 | 49.7 | 3.1 | 5.0 |
A88-51 | 17.7 | 30.8 | 13.1 | 4.1 |
including | 26.2 | 30.8 | 4.6 | 7.1 |
A88-52 | 42.2 | 56.2 | 13.9 | 2.5 |
including | 42.2 | 43.4 | 1.1 | 13.9 |
including | 54.6 | 55.7 | 1.2 | 8.1 |
A88-55 | 71.9 | 77.2 | 5.3 | 11.2 |
including | 75.4 | 77.2 | 1.8 | 29.6 |
A88-57 | 9.0 | 14.0 | 5.0 | 4.4 |
including | 9.0 | 11.0 | 2.0 | 8.7 |
A88-57 | 18.0 | 42.0 | 24.0 | 1.3 |
including | 19.0 | 28.0 | 9.0 | 2.1 |
A88-62 | 200.5 | 241.5 | 41.0 | 2.6 |
including | 218.5 | 226.5 | 8.0 | 5.4 |
A89-04 | 5.0 | 62.0 | 57.0 | 1.2 |
including | 32.5 | 34.5 | 2.0 | 6.2 |
including | 40.5 | 42.5 | 2.0 | 4.4 |
including | 45.0 | 46.5 | 1.5 | 7.3 |
A90-07 | 158.0 | 178.0 | 20.0 | 2.2 |
* Assays intervals are converted from feet to metres, and gold assays are converted from ounce per ton to gram per tonne. Results are core lengths, true widths are not known.
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 selected sample assays.
Table 3. Select Historical Assays reported from Rowell and Edgar, 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.
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 |
About
Inventus is a mineral exploration and development company focused on the world-class mining district of
For further information, please contact:
Mr.
Chairman and CEO
Tel: (647) 258-0395 x280
E-mail: info@inventusmining.com
Neither
Qualified Person
The Qualified Person responsible for the geological technical content of this news release is
Technical Information
The samples collected by Inventus from Cobalt Hill and
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.
Source:
2020 GlobeNewswire, Inc., source