TORONTO, June 28, 2023 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce that exploration drilling at its 100%-owned Dorland Prospect is currently underway. The Dorland Prospect is a part of the Company’s 280-km2 Sudbury 2.0 Project and consists of a never-before-drilled high-grade cobalt (Co) and accessory gold-copper-nickel (Au-Cu-Ni) occurrence located 36 km northeast of Sudbury, Ontario.
The Company is starting a 1,000-meter diamond drill program to test the surface mineralization at various depths where a coincident geophysical anomaly exists. The anomaly was recently generated from an induced polarization (“IP”) survey conducted earlier in June that defines an area of strong chargeability and low resistivity below and along a trend of high-grade cobalt mineralization (see Figure 1). This IP anomaly is a continuous 50 m wide and 200 m deep southward trending feature extending to the bottom and southern limit of the survey.
The Dorland prospect was acquired in 2021 because of its geological similarities and large size compared to other Co-Au-Cu-Ni occurrences on the Sudbury 2.0 project. The discovery of this untested polymetallic mineral system with selective surface grab samples grading up to 1.2% cobalt, 2.6 g/t gold, 0.51% copper and 0.1% nickel has revealed a strong exploration target that has now been correlated with an excellent geophysical response.
The drilling program is anticipated to occur over the next three weeks with updates to follow.
Link to Figure 1: http://inventusmining.com/s/June_28_Figure.jpg
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
E-mail: stefan@inventusmining.com
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 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 164.8 million common shares outstanding.
Visit http://www.inventusmining.com for more information.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
Qualified Person
The Qualified Person responsible for the 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.
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.
