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Inventus Mining Corp.
Summary
| Project: | Pardo | |
|---|---|---|
| Deposit: | Pardo | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-5-2017: Inventus Mining Corp. announces an Exploration/Drilling Update report for its Pardo deposit at the Pardo project. Drilling results incl. 0.60m @ 19.45g/t Au from 28.55m. Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) toda | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andy Bite (Internal) | |
| ABSTRACT: | Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) today announces that it has received assay results for the next thirteen consecutive holes of the winter drill program at the 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario. A total of 55 drill holes have been completed to date 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. Discovering higher-grade zones has been 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 475 x 300 m that remain open for expansion and in-fill drilling. The drilling thus far has shown that the 50 x 50 m spaced large diameter holes can identify near surface high-grade areas that warrant in-fill drilling. It has also shown that the mineralized boulder conglomerate is extensive and can be expanded with additional grid drilling. Inventus plans to conduct in-fill drilling to better define the areas of high grade mineralization and to expand the extent of the mineralized boulder conglomerate. Since the mineralized boulder conglomerate is near surface (from surface to 40 m deep), Inventus has a unique opportunity to define high-grade gold mineralization with relatively few metres of drilling. | |
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