TORONTO - 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.
In the northwest part of Cobalt Hill, 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. 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.
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.
Mr. Stefan Spears
Tel: (647) 258-0395
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.
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.