Inventus Mining Exploration Update, Drilling Intercepts 22.9 gpt gold over 1.25 m
TORONTO, ONTARIO--(Marketwired - Jun 6, 2017) - Inventus Mining Corp. (TSX VENTURE:IVS) ("Inventus" or the "Company") today announces that it has received assay results for the next twenty-seven consecutive holes of the winter drill program at the 100% owned Pardo Paleoplacer Gold Project ("Pardo") near Sudbury, Ontario. The drilling program is now complete with a total of 65 holes drilled. Assay results for the final five holes are pending.
Gold-bearing conglomerate layers or "reefs" at Pardo are horizontal and typically 1-3 metres (m) in thickness. Reefs are laterally extensive and occur on or very near surface. Higher gold grades occur concentrated in fluvial channels or "pay streaks", and valleys in the footwall upon which the mineralized conglomerate was deposited.
Discovering higher-grade zones is the primary objective of our current 50 x 50 m spaced drill program. Results so far have been successful in identifying a higher-grade area covering approximately 550 x 400 m that remains open for expansion and in-fill drilling (see Figure 1). New assay results to date are as follows:
| Hole ID | From
(m) | To
(m) | Length
(m) | Gold Grade
(g/t) | | PD-17-34 | 28.97 | 29.55 | 0.58 | 2.35 | | PD-17-35 | 24.70 | 27.60 | 2.90 | 0.54 | | PD-17-36 | 28.42 | 28.92 | 0.50 | 3.04 | | PD-17-37 | 17.70 | 18.84 | 1.14 | 1.28 | | PD-17-38 | 12.35 | 15.00 | 2.65 | 2.93 | | Including | 14.35 | 15.00 | 0.65 | 9.59 | | PD-17-39 | 9.25 | 11.15 | 1.90 | 1.68 | | PD-17-40 | 26.14 | 28.88 | 2.74 | 1.05 | | PD-17-41 | 30.50 | 31.95 | 1.45 | 0.55 | | PD-17-43 | 7.05 | 7.58 | 0.53 | 1.83 | | PD-17-45 | 7.30 | 8.50 | 1.20 | 1.05 | | PD-17-47 | 5.05 | 7.50 | 2.45 | 2.60 | | Including | 6.90 | 7.50 | 0.60 | 8.82 | | PD-17-48 | 14.25 | 16.30 | 2.05 | 0.58 | | PD-17-49 | 9.90 | 13.40 | 3.50 | 1.13 | | PD-17-50 | 27.85 | 29.75 | 1.90 | 0.45 | | PD-17-51 | 22.98 | 24.80 | 1.82 | 0.61 | | PD-17-52 | 11.94 | 15.25 | 3.31 | 2.15 | | Including | 12.70 | 14.25 | 1.55 | 3.93 | | PD-17-54 | 11.75 | 13.30 | 1.55 | 2.56 | | PD-17-55 | 11.45 | 13.72 | 2.27 | 1.07 | | PD-17-56 | 11.00 | 13.12 | 2.12 | 3.13 | | Including | 11.00 | 11.50 | 0.50 | 9.41 | | PD-17-57 | 13.35 | 16.22 | 2.87 | 1.10 | | PD-17-58 | 11.40 | 13.90 | 2.50 | 0.64 | | PD-17-59 | 10.30 | 11.55 | 1.25 | 22.94 | | Including | 10.85 | 11.55 | 0.70 | 39.80 | | PD-17-60 | 10.70 | 11.35 | 0.65 | 7.44 |
All holes were drilled vertically. Intercept lengths are true width. Gold grades are determined by fire assay method; see note on Technical Information. Holes PD-17-42, 44, 46 and 53 did not return significant values (> 0.40 gpt).
Close Spaced Drilling
Results from the first 51 holes of the program have shown that the 50 x 50 m spaced large diameter drill holes can identify near surface high-grade areas that warrant additional drilling. The holes discussed below were drilled in closer spaced (12 m) patterns designed to provide information about how the deposit behaves over shorter distances.
Holes PD-17-58 to 60 were drilled in a cluster of 3 holes centered around hole PD-17-13, which returned 3.39 gpt gold over 2.85 m. The new results using our enhanced sampling and assaying procedures returned a length-weighted average grade of 7.98 gpt gold over 1.47 m for all 3 holes. Considerable variability in gold grade was observed, with grade-thickness values ranging from 4.8 to 28.7 mg/t.
Holes PD-17-52 to 57 were drilled in a cluster of 6 holes around two 2012 holes, PD-12-28 and PD-12-29, which returned 1.58 gpt gold over 2.2 m and 0.39 gpt gold over 2.5 m. The new results returned a length-weighted average grade of 1.75 gpt gold over 2.24 m for all 6 holes. Considerable variability in gold grade was again observed between holes, with grade-thickness values ranging from 0.6 to 7.1 mg/t.
50 x 50 m Grid Drilling
Hole PD-17-38 was a step-out of approximately 50 m to the West of hole PD-17-18, which returned 4.68 gpt gold over 1.25 m. This result supports the expansion of the high-grade contour around holes PD-17-18, 29 and 38 (Figure 1).
Hole PD-17-47 encountered a mineralized boulder conglomerate with a thickness of 2.45 m at a depth of only 5 m. Holes PD-17-43 to 46, which were drilled in an East-West line approximately 50 m to the South, also encountered near surface mineralization. Assayed grades of these holes were generally low, however the zone contained detrital pyrite similar to the 007 Zone 100 m away.
Holes PD-17-50 and 51 filled in the 50 x 50 m grid between holes PD-17-04 and 07. The lower grade results highlight the inherent variability of gold grades in paleoplacer boulder conglomerates. The mineralized zone was present in both holes, along with detrital pyrite similar to hole PD-17-04, which retuned 13.20 gpt gold over 3.20 m.
Holes PD-17-34 to 36 and 40 to 42 were drilled in East-West lines approximately 50 m and 110 m to the South of hole PD-17-31, which returned 19.45 gpt gold over 0.60 m. All these holes intercepted a mineralized boulder conglomerate ranging in thickness from 0.5 to 3.0 m at a depth of 25 to 30 m. Results support the extension of the mineralized zone, but did not intercept the higher grade seen in hole PD-17-31.
Click here to view Figure 1: inventusmining.com
Click here to view Table 1: inventusmining.com
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