Inventus Mining Drills 111.45 Metres of 1.35 g/t AuEq at Cobalt Hill
TORONTO, April 11, 2022 (GLOBE NEWSWIRE) -- 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:
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
E-mail:
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.
