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Inventus Mining Provides Update, Samples 27 g/t Gold, 1.7% Copper From Selected Grab Samples on Sudbury 2.0 Project
TORONTO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide an exploration update on
About this update from Inventus Mining Corp.
[{"type":"text","content":" TORONTO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide an exploration update on the Sudbury 2.0 project and to announce that Canadian Continental Exploration Corp. (“CCEC”), a private company of which Inventus is the largest shareholder with approximately 17%, has entered into a conditional asset purchase agreement with Conquest Resources Limited (TSX-V:CQR). See CQR news release: Click Here Wolf Lake and Cobalt Hill Properties New surface sampling at the Wolf Lake occurrence has returned additional high-grade results, with seven selected grab samples returning assays ranging from 0.2 to 27.0 g/t gold and from 0.1 to 1.7 % copper with anomalous cobalt, nickel, and rare-earth element (REEs) values. Grab samples are not representative of the mineralization hosted on the property. Table 1. Inventus Assays of the Wolf Lake Mineralization Sample ID Au (g/t) Cu (%) S2_119 27.0 1.7 S2_161 4.0 0.7 WL-20-01 0.2 0.2 WL-20-02 5.0 1.3 WL-20-03 4.6 0.1 WL-20-04 6.3 0.7 WL-20-05 17.2 0.4 These assays are consistent with historic sampling from the area. In advance of drilling, Inventus has generated the first 3D geologic model derived from historic drill holes at Wolf Lake. This work has identified a northeast plunging pipe-shaped breccia body that hosts the gold-copper mineralization. Previous drilling was not designed to target a pipe-shaped breccia structure, and consequently did not test the mineralization beyond 200 metres depth, where it remains open. Wolf Lake has been permitted for drilling and an application has recently been made for a permit to drill at the Cobalt Hill occurrence, which is 1.5 km to the south. Selected grab samples by Inventus in 2019 from the Cobalt Hill returned assays up to 0.25% cobalt, 0.34% nickel and 2.8 g/t gold (see Nov 27, 2019 news release). The Cobalt Hill mineralization was poorly tested by historic drilling and remains open at depth. Drill Hole SH-01 in Sheppard Township Recent examination of a historic drill hole (SH-01) on the Sudbury 2.0 project in Sheppard township, which had not previously been assayed, retuned 7.7 g/t gold over 0.4 metres at 826 metres. The hole was drilled ...