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    IVS   CA4612172003

INVENTUS MINING CORP.

(IVS)
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Inventus Mining : Apr 11 - Inventus Drills 111.45 meters of 1.35 g/t AuEq at Cobalt Hill

04/11/2022 | 04:21pm EDT

NEWS RELEASE April 11, 2022

TSX-V Trading Symbol: IVS

INVENTUS MINING DRILLS 111.45 METRES OF 1.35 g/t AuEq AT COBALT HILL

TORONTO, ONTARIO (April 11, 2022) - Inventus Mining Corp. (TSX VENTURE: IVS) ("Inventus" or the "Company") is pleased to announce assay results from drilling at the Cobalt Hill target on its 100%-owned Sudbury 2.0 Project near Sudbury, Ontario.

Drilling highlights include:

  • Hole CH-22-05A intersected 111.45 m of 1.35 g/t gold equivalent (AuEq)1 including 1.24 m of 8.35 g/t AuEq including 3.87 m of 4.13 g/t AuEq

  • Hole CH-22-06 intersected 37.1 m of 1.61 g/t AuEq including 2.03 m of 7.44 g/t AuEq

  • Results are pending for an additional seven drill holes with intercepts of the sulphide breccia.

At the Cobalt Hill gold-cobalt-nickel target, 13 diamond drill holes have been completed in 2022 for a total of 4,133 metres of drilling. To date, assay results for holes CH-22-01 through CH-22-05A and partial assays for CH-22-06 have been received (see Table 1).

In the northwest part of Cobalt Hill (see Figures), hole CH-22-05A was the first hole of this campaign to test the continuity of sulphide breccia below and to the west of the intersection in hole CH-21-02 drilled last year (see News Release of April 8, 2021). Hole CH-22-05A is a step out of approximately 40-m from last year's drilling, encountered a continuous mineralized intercept of 111 m from 200 to 311 m with interspersed high-grade gold. It also contained the highest individual cobalt assay observed in drilling to date of 3,350 ppm. The geological control of these high-grade sections is currently not well understood.

Hole CH-22-05A intersected 111.45 m of 1.35 g/t AuEq from 200 m down hole, 0.75 g/t gold (Au), 448 ppm cobalt (Co) and 135 ppm nickel (Ni); including 1.24 m of 8.35 g/t AuEq, 6.86 g/t Au, 1,124 ppm Co and 320 ppm Ni; and including 3.87 m of 4.13 g/t AuEq, 3.41 g/t Au, 546 ppm Co and 155 ppm Ni.

Hole CH-22-06 testing the up-dip extent in CH-22-05A, intersected an upper sulphide breccia zone from 71.65 to 108.75 m. Assays have not yet been received for the lower sulphide breccia zone in CH-22-06 from 160 to 237 m (77 m).

Hole CH-22-06 intersected 37.1 m of 1.61 g/t AuEq from 72 m down hole, 1.26 g/t Au, 261 ppm Co and 78 ppm Ni; including 2.03 m of 7.44 g/t AuEq, 7.10 g/t Au, 241 ppm Co and 102 ppm Ni; and 0.76 m of 10.80 g/t AuEq, 7.50 g/t Au, 2,520 ppm Co and 612 ppm Ni.

The remaining seven holes with assays pending, all tested the mineralization at the northwest edge of Cobalt Hill from surface to 300 m vertical depth. All seven holes intersected the sulphide breccia with various intervals ranging from 30 to 174 m in length. A summary of sulphide breccia intersections with assays pending is listed in Table 1.

The drill program has outlined a large hydrothermal system at Cobalt Hill with broad intervals of continuous gold-cobalt-nickel mineralization at the northwest edge that remains open at depth below 300 m. Work is focused on understanding the geologic controls on gold, cobalt and nickel mineralization and modelling the mineralization in three dimensions.

Table 1. Summary of select assays intervals and sulphide breccia intersections observed in holes with assays pending.

Hole ID

From (m)

To (m)

Interval2 (m)

Au g/t

Co ppm

Ni ppm

AuEq1 g/t

CH-22-01

171.00

174.09

3.09

1.30

167

108

1.55

CH-22-02

112.22

119.64

7.42

0.01

891

520

1.32

including

114.50

115.20

0.70

0.03

2,130

872

2.99

CH-22-03

45.49

48.45

2.96

0.13

990

298

1.45

and

63.53

64.10

0.57

0.07

1,020

146

1.36

and

65.95

69.10

3.15

0.05

390

124

0.57

and

73.03

74.42

1.39

0.06

744

352

1.11

and

82.26

82.81

0.55

0.54

500

234

1.25

and

301.58

302.42

0.84

1.17

939

1,510

3.02

and

308.48

309.00

0.52

0.24

1,050

4,850

3.84

CH-22-04

No Significant Assays

CH-22-05A

200.14

311.59

111.45

0.75

448

135

1.35

including

210.12

210.67

0.55

2.21

3,350

1,480

6.92

including

223.30

223.73

0.43

10.70

1,560

424

12.76

including

231.25

232.49

1.24

6.86

1,124

320

8.35

including

250.01

253.88

3.87

3.41

546

155

4.13

including

263.12

265.81

2.69

1.07

1,468

472

3.05

CH-22-06

71.65

108.75

37.1

1.26

261

78

1.61

including

73.03

73.54

0.51

6.88

208

111

7.18

including

75.88

76.47

0.59

7.02

792

281

8.10

including

78.01

80.04

2.03

7.10

241

102

7.44

including

92.28

93.04

0.76

7.50

2,520

612

10.80

and

160

237

77

Assays Pending

CH-22-07

218

286

68

Assays Pending

CH-22-08

0

72

72

Assays Pending

and

123

242

119

Assays Pending

CH-22-09A

0

73

73

Assays Pending

and

162

336

174

Assays Pending

CH-22-10

0

90

90

Assays Pending

CH-22-11

0

69

69

Assays Pending

and

82

183

101

Assays Pending

CH-22-12

0

58

58

Assays Pending

and

70

100

30

Assays Pending

CH-22-13

0

66

66

Assays Pending

Notes:

1AuEq calculated using April 5th, 2022, spot price of $1920 USD per oz Au, $82.00 USD per kg for Co and $33.31 USD per kg for Ni, and assuming metallurgical recovery of 90% for Co and Ni. Metallurgical characteristics are not yet known.

2Assay intervals were calculated using values of >0.1 g/t Au within <2.5-m interval.

Results are core lengths; true widths are not known.

Click here to view Figures 1 to 4: http://www.inventusmining.com/s/IVS_Apr_11_Figures.pdf

For further information, please contact:

Mr. Stefan Spears

Chairman and CEO Inventus Mining Corp. Tel: (647) 258-0395 x280

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 Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 140.6 million 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 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.

Technical Information

The samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay by Agat Laboratories in Mississauga, Ontario. The samples reported were crushed in their entirety to 75% passing -10 mesh, with one 250 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 are 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.

Figure 1. Cobalt Hill Plan Map Showing 2022 Drill Collars and Traces

Figure 2. Drill Hole Section CH-22-05A Looking Northeast

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Inventus Mining Corp. published this content on 11 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 April 2022 20:20:20 UTC.


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