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Wednesday, 03/29/2017 10:08:36 AM

Wednesday, March 29, 2017 10:08:36 AM

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Inventus Provides Exploration Update, Drilling Intercepts 15.47 gpt over 0.63 m at Pardo

TORONTO, ONTARIO (Mar. 28, 2017) - Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) today announces that it has received assay results for the next eight consecutive holes of the winter drill program (see Figure 1) at the 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario. Complete assay results are as follows:

Hole ID From(m) To(m) Width(m) Gold Grade(g/t)
PD-17-06 38.95 39.47 0.52 1.42
PD-17-07 37.30 39.60 2.30 2.37
PD-17-08 No significant values
PD-17-09 No significant values
PD-17-10 8.35 9.05 0.70 2.72
PD-17-11 5.50 6.19 0.69 0.40
PD-17-12 10.60 12.38 1.78 1.14
PD-17-13 8.15 11.00 2.85 3.92
Including 8.15 8.78 0.63 15.47

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-17-06 is a 70 metre (m) step-out to the northwest of hole PD-17-04 that intercepted 13.2 gpt gold over 3.2 m. This hole did not encounter any visible boulder conglomerate, however, the sample at the basal contact returned positive gold values. Our interpretation is that the favourable pyritic boulder conglomerate unit is absent at this location due to a topographic high in the paleosurface, but it is encountered again 50 m further to the north in hole PD-17-07.

Hole PD-17-07 encountered pyritic boulder conglomerate returning a value of 2.37 gpt gold over 2.3 m. The boulder
unit is relatively thick in this location and remains open for additional step-out holes to the North and West.

Holes PD-17-08 to PD-17-11 were drilled to the north of the higher grade area currently being defined by drilling. The
geologic interpretation suggests that the favourable unit may have pinched out in this direction; a few additional holes are planned to test this interpretation.

Holes PD-17-08 and PD-17-09 returned no significant gold values.

Holes PD-17-10 and PD-17-11 returned gold values in detrital pyrite of 2.72 gpt and 0.40 gpt over 0.7 m and 0.69 m samples lengths located near the basal contact.

Hole PD-17-12 encountered a zone containing detrital pyrite and some gold but no boulders were observed in the core. Our interpretation is that this drill hole is likely in close proximity to a channel of the favourable boulder conglomerate unit.

Hole PD-17-13 encountered a thick pyritic boulder conglomerate unit returning 3.92 gpt gold over 2.85 m, including
15.47 gpt gold over 0.63 m. Visible gold is noted in the core. This hole twinned hole PD-10-48 (drilled in 2010), which contained a thick unit of the mineralized boulder conglomerate, but only returned 0.88 gpt gold over 0.67 m in fire assays. This further supports our observation that the larger core sample size returns on average higher gold grades.

Additional drilling to the South will follow-up on this result.

Assay results reported in this release are the average of two fire assay values on two 1 kg subsamples generated from each selected core interval. Our observation is that cyanide bottle rolls on 1-2 kg subsamples combined with a fire assay on the residue returns higher gold values. However, in order to build the dataset to support this observation we have been using both methods of analysis on our samples. For the holes reported above the cyanide bottle roll results are still pending. We will update the attached Table 1 on an ongoing basis with all the analytical results.

Please note that calculated head grades for holes PD-17-01 to PD-17-05 that were previously reported, have also been updated in the table below, which now includes the fire assay values on the bottle roll residues. These analyses were not available at the time the cyanide soluble assays were originally reported. The updated results are as follows:

Hole From To Width Bottle Roll Fire Assay Calc. Gold
ID (m) (m) (m) Gold Grade Residue Gold Grade
(g/t) Grade(g/t) (g/t)
(A) (B) (A+B)
PD-17-01 39.6 40.6 1.0 2.59 0.73 3.32
PD-17-02 11.3 13.0 1.7 3.16 0.76 3.92
PD-17-03 Not sampled, rubble filled fault zone
PD-17-04 17.1 20.3 3.2 11.51 1.69 13.20
Including 19.7 20.3 0.6 58.22 8.56 66.78
PD-17-05 42.8 43.9 1.1 2.08 0.29 2.37

All holes were drilled vertically. Intercept lengths are true width. Samples returning <0.4 gpt were not included in the intervals reported above.

Click here to view Figure 1: http://inventusmining.com/s/Figure_1_March_28.pdf

Click here to view Table 1: http://inventusmining.com/s/Table_1_March_28.pdf

https://static1.squarespace.com/static/56d987d21bbee076a4c0be7f/t/58daa425ff7c5087dfdb21b0/1490723877690/IVS+2017+Expl+Update+2+FINAL.pdf