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Inventus Mining Intercepts 19.45 gpt gold over 0.6 m and 13.50 gpt gold over 0.5 m at Pardo Paleoplacer Project
TORONTO, ONTARIO--(Marketwired - May 16, 2017) - Inventus Mining Corp. (TSX VENTURE:IVS) ("Inventus" or the "Company") today announces that it has received assa
About this update from Inventus Mining Corp.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - 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....