Inventus Mining (formerly Ginguro Exploration Inc.)
is a resource exploration company.
IVS.V / GNGXF
Shares outstanding 106.9 M
Fully Diluted 116.9 M
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the advanced exploration stage Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America.
All assays have now been received from these four separate channels cut and sampled to date at the 007 Zone.
Results of these aggregate channels are summarized as follows:
Channel 106 averaged 36.5 g/t gold across 31 meters.
Channel 109 averaged 7.8 g/t gold across 7.5 meters.
Channel 110 averaged 28.7 g/t gold across 20 meters.
Channel 114 averaged 2.2 g/t gold across 5.5 meters.
This presentation from the company provides a nice summary of the general geologic characteristics of paleoplacer deposits,
as well as some specifics about the company's claims:
This is a more general description of the geology and discovery of the mother of all paleoplacer deposits,
the Witwatersrand deposits of South Africa (source of 40% of the gold ever mined on earth):
More details later
Ginguro Announces Commencement of Arbitration Proceedings Relating to the Pardo Joint Venture |
SUDBURY, ONTARIO--(Marketwired - Oct. 24, 2013) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro") announces today that it is commencing arbitration proceedings against Endurance Gold Corporation ("Endurance") to enforce Ginguro's rights under the joint venture (the "Joint Venture") formed pursuant to the provisions of a joint venture agreement dated March 22, 2012 (the "Joint Venture Agreement") relating to the Pardo property located approximately 65 kilometers north-east of Sudbury, Ontario, Canada (the "Pardo Property"). Ginguro held an initial Joint Venture interest of 55%. However, after completing a program fully funded by Ginguro, as Endurance did not financially contribute or participate in the program, Ginguro's interest increased to 70.95% and Endurance's Joint Venture interest decreased from 45% to 29.05%.