Inventus Mining Samples Up To 7.2 g/t Palladium at Rathbun,á3D IP Survey at Cobalt Hill Shows Large Anomaly
10/07/2021 | 10:06am EST
TORONTO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide an update on its ongoing exploration programs at its 100%-owned Sudbury 2.0 project near Sudbury, Ontario.
Rathbun surface grab samples return up to 7.2 g/t palladium, 1.1 g/t platinum, 0.7 g/t gold, 1.0% copper, and 0.5% nickel.
Cobalt Hill 3D IP survey identifies a large 600 m by 500 m anomaly with an untested core that may extend to depth below the survey limit.
Rathbun Footwall Structure
A highly successful prospecting program at Rathbun, including trenching, mapping, and sampling, has exposed a Sudbury footwall structure extending along a strike length of approximately 1.5 km (see Figure 1).
Grab samples of the mineralization along strike returned up to 7.2 g/t palladium, 1.1 g/t platinum, 0.7 g/t gold, 1.0 % copper, 0.5 % nickel (see Table 1). The geological structure has been named the Rathbun Footwall Structure (RFS). It is composed of recrystallized Sudbury breccia, metabreccia and inclusion-bearing quartz diorite, the same geological units that host high-grade Ni-Cu-PGE sulfides in footwall deposits around the Sudbury Basin. The high-temperature alteration and partial melting of rocks within the RFS is the same thermal process observed in Sudbury footwall deposits, where high-temperature fluids transport high-grade mineralization into the footwall.
An example of this type of high-grade mineralization analogous to Sudbury footwall deposits occurs within the RFS at the historic shaft and muck pile where sample assays ranged from 6.3 to 74.4 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 13.3 g/t gold, and 1.0 to 13.0 g/t silver.
Beginning this fall/winter, we plan to use geophysics and drilling to identify and test targets along the RFS.
Cobalt Hill 3D IP Survey
The results of the 3D induced polarization (IP) survey at Cobalt Hill has identified a 600 m north-south by 500 m east-west anomaly (see Figures 2 and 3). The IP anomaly is in the center of the observed alteration and brecciation at Cobalt Hill. It has a strong correlation with Inventus’ surface mapping and drill intersections of the sulfide breccia. 2021 drill hole CH-21-02 intersected the northern edge of the anomaly and returned an intersection of 7 m of 4.4 g/t gold, 0.09% cobalt and 0.03% nickel within 44 m of 1.3 g/t gold, 0.04% cobalt and 0.02% nickel (see April 8th 2021 news release). The center of the IP anomaly occurs 200 m south of drill hole CH-21-02 and begins at approximately 150 m depth.
Inventus is currently planning a winter drilling program at Cobalt Hill to test the IP anomaly associated with the mineral system at Cobalt Hill.
“The IP results from Cobalt Hill are very encouraging and illustrate a sizeable untested target that extends at depth. The IP anomaly correlates well with the IOCG-type gold, cobalt, nickel and REE mineralization found on the surface and intersected in drilling at the northern edge of the anomaly in early 2021. This is a strong indication that the survey results illustrate increased sulfide concentrations that may extend below the lower limit of the IP survey. I am very excited to get the drill spinning and explore this mineral system below surface,” said Wesley Whymark, VP of Exploration.
Property Airborne MT Survey
The property-wide airborne MT survey was completed in August, and the final 3D inversion product was finished in September. The MT data has provided Inventus with valuable subsurface information above the Temagami Geophysical Anomaly including an abundance of low resistivity structural targets similar to the one that hosts the Cobalt Hill and Lake Zone mineralization. Inventus is currently evaluating and prioritizing the targets for further exploration.
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 130,500,000 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.
The Qualified Person responsible for the geological technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
The samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay by SGS Laboratories. The samples reported were crushed in their entirety to 75% passing -10 mesh, with one 1 kg 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-AES finish. Samples over 10 g/t gold were subject to a 50 g aliquot FA with gravimetric finish. Multi element analysis was done by ICP-MS and ICP-AES.
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.
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.