Inventus Mining Exploration Update, Drilling Intercepts 19.45 gpt gold over 0.6 m, and 13.50 gpt gold over 0.5 m at Pardo
NEWS RELEASE
May 16, 2017 TSX-V Trading Symbol: IVS
Inventus Mining Exploration Update, Drilling Intercepts 19.45 gpt gold over 0.6 m,
and 13.50 gpt gold over 0.5 m at Pardo
TORONTO, ONTARIO (May 16, 2017) - 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 (see Figure 1). Completed assay results to date are as follows:
Hole ID From
(m)
To
(m)
Length
(m)
Gold Grade
(g/t)
PD-17-20 47.80 49.10 1.30 1.16
PD-17-21 No significant values
PD-17-23 19.82 21.55 1.73 1.26
PD-17-24 18.60 22.75 4.15 0.56
PD-17-25 10.70 13.80 3.10 0.66
PD-17-26 25.16 26.60 1.44 1.57
PD-17-27 5.10 5.60 0.50 0.57
PD-17-28 11.56 12.06 0.50 2.19
PD-17-29 11.98 12.95 0.97 7.19
Including 11.98 12.48 0.50 13.50
PD-17-30 20.84 22.87 2.03 1.14
PD-17-31 28.55 29.15 0.60 19.45
PD-17-32 25.26 26.48 1.22 2.46
PD-17-33 22.30 22.80 0.50 4.60
All holes were drilled vertically. Intercept lengths are true width. Samples
returning <0.3 gpt were not included in the intervals reported above. Gold
grades are determined by fire assay method; see note on Technical
Information. Hole PD-17-22 was not completed.
Holes PD-17-29/30/31/32/33 were drilled in an E-W line approximately 50 m South of holes PD-17-18, which
encountered 4.68 gpt gold over 1.25 m. All these holes intercepted a well-mineralized boulder conglomerate ranging in
thickness from 0.5 to 2.0 m. Visible gold was noted in three of the five holes. Additional lines of drilling have been
completed 50 and 100 m further to the South, with assay results pending.
Holes PD-17-23/24/25/26/27/28 were drilled 50 to 200 m to the South of hole PD-17-04, which encountered 13.2 gpt
gold over 3.2 m. All these holes encountered mineralized boulder conglomerate, however the gold grades were lower
than what was found to the North and East, suggesting a less favourable mineralized zone in this area.
Holes PD-17-20/21 tested an area approximately 700 m to the southeast of the main area of interest. This area was a
priority because it lies beneath a swamp where drilling is only possible in the winter. An isolated 2012 drill hole (PD-
12-20) approximately 150 m to the West of hole PD-17-20, encountered 1.1 gpt gold over 2.1 m, which encouraged us
to drill in this area.
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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.
Assay results reported in this release are the average of two fire assay values on a 2 kg subsample generated from
each selected core interval. Cyanide bottle rolls on 2 kg subsamples combined with a fire assay on the residue are
also available for all of the holes in this release. The results are not significantly different between fire assay and
cyanide techniques, unlike for the first several holes (up to PD-17-05), however we note that the sample preparation
methods and analysis techniques were modified during the course of the program. See Table 1 for all the available
analytical results.
Click here to view Figure 1: http://inventusmining.com/s/Figure1_May16.pdf
Click here to view Table 1: http://inventusmining.com/s/Table1_May16.pdf
About Inventus Mining Corp.
Inventus is a mineral exploration company focused on the world-class mining district of Sudbury, Ontario. Our principal
asset is a 100% interest in the Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first
important paleoplacer gold discovery found in North America. Inventus has 100,304,403 common shares outstanding
(110,423,570 shares on a fully diluted basis). Endurance Gold Corp. owns 25.4% of the issued and outstanding
shares, Robert McEwen owns 18%, Eric Sprott owns 13.6%, Osisko Gold Royalties Ltd. owns 6%, and the former
Chairman and CEO Wayne Whymark owns 6.4%.
Visit http://www.inventusmining.com for more information.
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
E-mail: [email protected]
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. No stock exchange, regulation services provide r,
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 geological technical content of this news release is Andy Bite, P.Geo., who has reviewed
and approved the technical disclosure in this news release on behalf of the Company.
Technical Information
The samples of this release were transported in secure sealed bags for preparation and assay at either Accurassay Laboratorie s
located in Thunder Bay, Ontario, or SGS Laboratories located in Cochrane, Ontario. A standard or a blank was inserted every 20
samples or less. The samples reported were crushed in their entirety to 85% passing -10 mesh, with two 1 kg subsamples split and
pulverized to 85% passing -200 mesh. The 1 kg subsample pulps were then recombined and two 50-gram aliquots were taken for
fire assay (FA) with an atomic absorption (AA) finish. Results higher than 10 g/t were re-analyzed with a gravimetric finish. The
remaining pulps from the 2 kg subsample were then assayed by a cyanide soluble bottle roll (24 hours or 2 hour Leachwell) and the
solution was analyzed by AA or ICP-MS. The remaining residue from the bottle roll was dried and a 50-gram aliquot was sent for FA
with an AA finish.
Forward-Looking Statements
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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. Alth ough these statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks,
uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such forward -looking information. Forward looking
information in this news release includes, but is not limited to, the Comp any’s objectives, goals or future plans, statements,
exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of
the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert
estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmen tal or
other project approvals, political risks, inability to ful fill the duty to accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out
in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward -looking
information, whether as a result of new information, future events or otherwise, other than as required by law.