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Inventus Mining Drills 4.4 g/t Gold and 0.09% Cobalt Over 7 Metres at Cobalt Hill
TORONTO, April 08, 2021 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce assay results from its
About this update from Inventus Mining Corp.
[{"type":"text","content":" TORONTO, April 08, 2021 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce assay results from its drilling program at Cobalt Hill, part of its 100%-owned Sudbury 2.0 project near Sudbury, Ontario. Drilling highlights include: CH-21-02: 44 m of 1.3 g/t Gold, 0.04% Cobalt and 0.02% Nickel Including 7 m of 4.4 g/t Gold, 0.09% Cobalt and 0.03% Nickel (with individual assays up to 0.29% Cobalt and 0.11% Nickel) CH-21-01: 16 m of 0.7 g/t Gold, 0.04% Cobalt and 0.03% Nickel (with individual assays up to 0.17% Cobalt and 0.22% Nickel) Inventus’ drilling at Cobalt Hill has confirmed the occurrence of polymetallic gold-cobalt-nickel mineralization enriched with rare earth elements (REEs). This type of mineralization is indicative of a potential Iron Oxide Copper Gold (IOCG) mineral system. IOCG systems typically occur in proximity to magnetic, dense and conductive geological environments with regional and/or structurally controlled alteration. The Sudbury 2.0 project, situated over the Temagami Geophysical Anomaly, with its dense, magnetic, conductive signature, checks all of these boxes. New geophysical modelling of historic magnetotelluric (MT) data collected by Falconbridge in the 1990s, has illustrated an area of conductivity extending towards surface below Cobalt Hill and the Lake Zone (Figure 1). A similar conductive feature is known to occur below the world-class Olympic Dam IOCG deposit, where it is interpreted to be a metalliferous fluid pathway from a deep conductive source. The alteration and hydrothermal breccia at Cobalt Hill appears pipe-shaped and is approximately 500 x 400 metres in size on surface with an apparent vertical plunge. Similar to the Lake Zone, a very good correlation exists between sulfides, mainly pyrite, and the polymetallic gold mineralization. Inventus plans to conduct an induced polarization geophysical survey (IP) over Cobalt Hill to identify areas of higher sulfide content. \"We are very encouraged by these results, as they support our belief that the Temagami Geophysical Anomaly is a large intrusion responsible for the mineralization. The presence of cobalt, nickel and anomalous REEs is strong evidence for an intrusion-related mineral system. ...