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Inventus Mining Corp.
Summary
| Project: | Pardo | |
|---|---|---|
| Deposit: | 007 Zone | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-11-2018: Inventus Mining Corp. announces an Exploration/Drilling Update report for its 007 Zone deposit at the Pardo project. Drilling results incl. 0.30m @ 62.0g/t Au from 0m. TORONTO, Nov. 22, 2018 -- Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventu | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wesley Whymark (Not stated) | |
| ABSTRACT: | TORONTO, Nov. 22, 2018 -- Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) today announces that it has received assay results for the first 28 holes of the winter drill program at the 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario. A total of 28 definition drill holes and 7 step-out holes at the 007 Zone have been completed and the program is near completion. 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 conglomerate was deposited. The objective of the current definition drill program is to provide data to support the next phase of bulk sampling. Completed assay results from drilling at the 007 Zone are as follows All holes were drilled vertically. Intercept lengths are true thickness. Gold grades are determined by fire assay and gravimetric methods; see note on Technical Information. Drilling Results and Interpretation The 28 new drill holes at the 007 Zone (see Figure 1) indicate that the average thickness of the mineralized boulder conglomerate is 2.5 metres, and the weighted average gold grade is 3.4 g/t. In comparison the average gold grade in 11 holes drilled at the Trench 1 bulk sample site was 1.3 g/t. Processing of the Trench 1 bulk sample returned an average grade of 4.2 g/t gold, over 200% higher than the grade indicated by drilling in the same area (see results published on January 3 | |
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