Inventus Mining Samples Up To 7.2 g/t Palladium at Rathbun, 3D IP Survey at Cobalt Hill Shows Large Anomaly
NEWS RELEASE TSX-V Trading Symbol: IVS
Inventus Mining Samples Up To 7.2 g/t Palladium at Rathbun, 3D IP Survey at
Cobalt Hill Shows Large Anomaly
TORONTO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the
“Company”) is pleased to provide an update on its ongoing exploration programs at its 100%-owned Sudbury 2.0 project near
Sudbury, Ontario.
Exploration Highlights:
• Rathbun surface grab samples return up to 7.2 g/t palladium, 1.1 g/t platinum, 0.7 g/t gold, 1.0% copper, and 0.5%
nickel.
• Cobalt Hill 3D IP survey identifies a large 600 m by 500 m anomaly with an untested core that may extend to depth
below the survey limit.
Rathbun Footwall Structure
A highly successful prospecting program at Rathbun, including trenching, mapping, and sampling, has exposed a Sudbury
footwall structure extending along a strike length of approximately 1.5 km (see Figure 1) .
Grab samples of the mineralization along strike returned up to 7.2 g/t palladium, 1.1 g/t platinum, 0.7 g/t gold, 1.0
% copper, 0.5 % nickel (see Table 1) . The geological structure has been named the Rathbun Footwall Structure (RFS) . It is
composed of recrystallized Sudbury breccia, metabreccia and inclusion-bearing quartz diorite, the same geological units that
host high-grade Ni-Cu-PGE sulfides in footwall deposits around the Sudbury Basin. The high-temperature alteration and partial
melting of rocks within the RFS is the same thermal process observed in Sudbury footwall deposits, where high-temperature
fluids transport high-grade mineralization into the footwall.
An example of this type of high-grade mineralization analogous to Sudbury footwall deposits occurs within the RFS at the
historic shaft and muck pile where sample assays ranged from 6.3 to 74.4 g/t palladium, 1.0 to 18.4 g/t platinum, 0.8 to
22.8% copper, 0.1 to 0.5% nickel, 0.5 to 13.3 g/t gold, and 1.0 to 13.0 g/t silver .
Beginning this fall/winter, we plan to use geophysics and drilling to identify and test targets along the RFS.
Cobalt Hill 3D IP Survey
The results of the 3D induced polarization (IP) survey at Cobalt Hill has identified a 600 m north-south by 500 m east-west
anomaly (see Figures 2 and 3) . The IP anomaly is in the center of the observed alteration and brecciation at Cobalt Hill. It
has a strong correlation with Inventus’ surface mapping and drill intersections of the sulfide breccia. 2021 drill hole CH-21-02
intersected the northern edge of the anomaly and returned an intersection of 7 m of 4.4 g/t gold, 0.09% cobalt
and 0.03% nickel within 44 m of 1.3 g/t gold, 0.04% cobalt and 0.02% nickel (see April 8 th 2021 news release). The center of
the IP anomaly occurs 200 m south of drill hole CH-21-02 and begins at approximately 150 m depth.
Inventus is currently planning a winter drilling program at Cobalt Hill to test the IP anomaly associated with the mineral system
at Cobalt Hill.
“The IP results from Cobalt Hill are very encouraging and illustrate a sizeable untested target that extends at depth.
The IP anomaly correlates well with the IOCG-type gold, cobalt, nickel and REE mineralization found on the surface
and intersected in drilling at the northern edge of the anomaly in early 2021. This is a strong indication that the survey
results illustrate increased sulfide concentrations that may extend below the lower limit of the IP survey. I am very
excited to get the drill spinning and explore this mineral system below surface, ” said Wesley Whymark, VP of
Exploration.
Property Airborne MT Survey
The property-wide airborne MT survey was completed in August, and the final 3D inversion product was finished in September.
The MT data has provided Inventus with valuable subsurface information above the Temagami Geophysical Anomaly including
an abundance of low resistivity structural targets similar to the one that hosts the Cobalt Hill and Lake Zone mineralization.
Inventus is currently evaluating and prioritizing the targets for further exploration.
Click here to view Figures 1-3: http://inventusmining.com/s/IVS_Oct_7_Figs.pdf
Table 1. Selected Grab Sample Assays from Rathbun
Sample ID Area Pd (g/t) Pt (g/t) Au (g/t) Cu (%) Ni (%)
S00439514 250E 7.2 0.3 0.55 0.30 0.13
S00439521 250E 7.2 0.5 0.10 0.04 0.34
S00439519 250E 4.6 0.4 0.04 0.03 0.36
S00439520 250E 4.5 0.3 0.05 0.03 0.30
S00439522 250E 4.2 0.3 0.06 0.05 0.37
S897297 50W 4.1 1.1 0.59 0.69 0.17
S897270 550W 3.4 0.4 0.27 0.79 0.46
S00439524 250E 2.1 0.2 0.10 0.10 0.16
S00439503 150E 2.0 0.4 0.05 0.01 0.14
S00439504 150E 1.1 0.2 0.01 0.03 0.13
S897282 360W 0.6 0.3 0.10 0.11 0.17
S897293 200W 0.6 0.3 0.67 1.00 0.35
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
E-mail: [email protected]
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 Project located northeast
of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately
130,500,000 common shares outstanding.
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.
Qualified Person
The Qualified Person responsible for the geological technical content of this news release is Wesley Whymark, P.Geo., who
has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Technical Information
The samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay
by SGS Laboratories. The samples reported were crushed in their entirety to 75% passing -10 mesh, with one 1 kg subsample
split and pulverized to 85% passing -200 mesh. One 50 g aliquot was taken from the subsample for fire assay (FA) with an
ICP-AES finish. Samples over 10 g/t gold were subject to a 50 g aliquot FA with gravimetric finish. Multi element analysis was
done by ICP-MS and ICP-AES.
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.
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.