Inventus Provides Report On Positive Technical Developments: Ore Sorting and Bulk Sampling
NEWS RELEASE
April 5, 2017 TSX-V Trading Symbol: IVS
Inventus Provides Report On Positive Technical Developments:
Ore Sorting and Bulk Sampling
TORONTO, ONTARIO (April 5, 2017) - Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”)
today provides a summary of significant findings from two technical studies on its 100% owned Pardo Paleoplacer
Gold Project (“Pardo”) near Sudbury, Ontario. Recent investigations have returned positive results in the areas of: i)
advanced sensor-based ore sorting, and ii) bulk sampling.
Ore Sorting – Very Effective in First Trial
A scoping study to determine the amenability of Pardo conglomerate material to advanced sensor-based ore sorting
technologies was conducted by Sacré-Davey Engineering, North Vancouver, BC. Inventus provided 100 rock hand
samples selected from the 007, Trench 1 and Eastern Reef Zones. Rocks were divided into four categories visually
according to their expected gold grade: 25% high grade (>30 gpt gold), 25% medium grade (2-20 gpt gold), 25% low
grade (0.1-2 gpt gold), and 25% were expected to have no gold. The average gold assay grade of the samples in the
study (including barren samples) was 11.31 gpt and the highest-grade sample was 186.5 gpt.
Results of their simulations suggest that 91% of the contained gold could be sorted into only 35% of the
original mass (i.e. 35% mass pull) using the best algorithm generated for this exercise. The average simulated
gold grade of the product is 29.37 gpt vs. 11.31 gpt for the feed, or an upgrade ratio of 160%. Summary results
for the best XRF algorithm are as follows:
Product Waste
Mass
Pull (%)
Average
Gold Grade
(gpt)
Cumulative
Recovery
(%)
Upgrade
Ratio (%)
Mass
Pull (%)
Average
Gold Grade
(gpt)
Cumulative
Recovery
(%)
20 45.33 80 301 80 2.81 20
35 29.37 91 160 65 1.59 9
50 20.90 92 85 50 1.73 8
Tests were performed using X-Ray Fluorescence (XRF), Electromagnetics (EM), and X-Ray Transmission (XRT).
Algorithms were generated to correlate gold with other measurable characteristics of the rocks. Detection of other
elements by XRF provided the best associations with gold. Zirconium and lead were determined to have the strongest
association with gold, which is reasonable because we know the matrix of the conglomerate is enriched in heavy
minerals such as zircons, galena, pyrite, uranium and gold.
These results are very encouraging and suggest that it is possible to sort away the majority of the unmineralized
material that would otherwise dilute the grade of material being processed. These results, although promising, are
preliminary in nature and need to be further verified with much larger samples.
Mini-bulk Sample – Demonstrates Sensible Path Forward
In order to investigate the best methods to process our planned bulk samples from Pardo, a mini-bulk sample
weighing 110.7 kg (244 lbs.) was taken from outcropping rocks at the 007 Zone, and sent for milling and gravity
concentrating at a mining equipment vendors facility(1). Gravity concentration was done on a conventional shaker
table. Three concentrates and a tailings sample were collected for analysis. Samples were returned to Inventus’s
custody and then sent to SGS Laboratories in Burnaby, BC for assay.
Concentrate #1 contained visible gold and was panned by hand to yield an estimated 1.024 grams of gold.
Concentrate #2 and the remains of Concentrate #1 were then mixed (combined weight of 1.31 kg) and fire assayed in
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duplicate, returning a grade of 312.3 gpt. Concentrate #3 weighed 1.72 kg and returned a duplicate fire assay grade of
45.8 gpt. A sample of tailing from the shaker table weighing 4.08 kg returned a quadruplicate fire assay grade of 6.4
gpt. The calculated head grade of the sample is 19.9 gpt gold, which is consistent with the high-grade nature of the
outcropping boulder conglomerate at the 007 Zone.
Metallurgical characterization of the 007 Zone mini-bulk sample after gravity concentration is: 46.6% free
gravity recoverable gold, 22.2% gold in high-grade sulphide concentrates (predominantly composed of
pyrite), and 31.2% gold in the tails material. Overall, 68.8% of the gold content was concentrated in 2.7% of the
original mass.
Dry Weight % Total
Mass
Average
Fire Assay
Gold Grade
(gpt)
Calculated
Weight of
Contained
Gold (g)
% Total
Gold
Calculated
Gold Grade
Distribution
(gpt)
Panned Gold 1.135 g 0.001 - 1.024(2) 46.6 9.3
Concentrate #1+2 1.31 kg 1.18 312.3 0.409 18.6 3.7
Concentrate #3 1.72 kg 1.55 45.8 0.079 3.6 0.7
Gravity Products
Sub Total
3.03 kg 2.73 - 1.512 68.8 13.7
Tails 107.67 kg 97.27 6.4 0.685 31.2 6.2
Total Sample 110.70(3) kg 100 - 2.197 100 19.9
These results are a first-pass evaluation of gravity concentration; we believe the process can be optimized to improve
performance and possibly paired with other processing methods. Nevertheless, the results are positive and support
the concept of processing bulk samples from Pardo by gravity. Milling and gravity concentration is the lowest cost
option being considered for analysis of bulk samples. Inventus plans to begin extracting bulk samples from Pardo in
the coming months.
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 provider,
securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
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Qualified Person
The Qualified Person responsible for the 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
(1) The equipment vendor does not operate a certified laboratory. Processing services were provided to Inventus free of charge as a
demonstration of their equipment.
(2) The weight of contained gold for panned gold concentrate was estimated by subtracting 5% to account for other heavy particles
(-0.057 g) and a further 5% for silver content (-0.054 g).
(3) The dry weight of the head sample was estimated based on a measured weight of 116.5 kg (wet) and a 5% w/w moisture
content.
Samples for the mini-bulk sample were transported in secure sealed bags for preparation and assay at SGS Laboratories located in
Burnaby, BC. A standard or a blank was inserted every 20 or fewer samples. The samples reported were crushed in their entirety to
85% passing -10 mesh, with either a 500 g or 1 kg subsample split depending on the original sample size and pulverized to 85%
passing -200 mesh. The subsample pulps were then analysed by 50 g fire assay with an atomic absorption finish. Samples >10 gpt
were analysed with a gravimetric finish.
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 th ese 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 Company’s o bjectives, 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 fulfill th e 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, del ays 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.