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Inventus Mining Corp.
Summary
| Project: | Pardo | |
|---|---|---|
| Deposit: | Pardo | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2017: Inventus Mining Corp. announces an Exploration/Drilling Update report for its Pardo deposit at the Pardo project. Drilling results incl. 3.2m @ 11.51g/t Au from 17.1m. TORONTO, ONTARIO (Mar. 1, 2017) - Inventus Mining Corp. (TSX VENTURE: IVS)(“I | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andy Bite (Not stated) | |
| ABSTRACT: | TORONTO, ONTARIO (Mar. 1, 2017) - Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) today announces that it has received assay results for the first 5 holes of the winter drill program (see Figure 1) at the 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario. A total of 19 holes have been completed to date. Hole PD-17-01 was designed to follow up on a previous hole that ended before reaching the mineralized boulder conglomerate unit due to drilling problems. The results support the existence of mineralized boulder conglomerate in this area at a depth of approximately 40 m. A small amount of visible gold was observed in the core. Hole PD-17-02 was drilled 50 m to the South of two previous holes that returned individual samples with gold grades of up to 25 and 27 g/t. The hole encountered basal boulder conglomerate at a depth of 11 m that was well mineralized with abundant detrital pyrite typical of higher grade zones. Although the assayed grade was not exceptionally high, the results support the extension of the target zone and will be offset again 50 m and 100 m to the South with additional planned holes. Hole PD-17-03 encountered rubble in a fault zone and was not sampled. Hole PD-17-04 intercepted boulder conglomerate at a depth of 17 m with a total thickness of 3.2 m. A cluster of visible gold grains was observed at 20 m down hole (see Figure 2). This hole contains the highest gold grade of any drill hole at Pardo and extends the mineralized zone 75 m to the West. The greater thickness of boulder conglomerate in PD- 17-04 could indicate the presence of a well mineralized channel in the paleo surface, which is an interesting exploration target for additional drilling. Hole PD-17-05 intercepted boulder conglomerate at a depth of 43 m. The increasing depth to the West is explained by a rise in the topography between holes PD-17-04 and this hole. The result further extends the boulder conglomerate 80 m to the West. | |
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