Monday, July 11, 2016 9:23:24 AM
SUDBURY, ONTARIO--(Marketwired - Jul 11, 2016) - Inventus Mining Corp. (TSX VENTURE:IVS) ("Inventus" or the "Company") is pleased to announce additional results from surface exploration at the recently identified Cobble Zone on its 100% owned Pardo property, located approximately 65km northeast of Sudbury, Ontario.
Channel sampling of six discrete outcrops has identified anomalous gold values occur in all the conglomerate units exposed along a strike length of approximately 500 meters. Continuous channel samples as long as 12 meters containing anomalous gold values and grab samples as high as 2.24 g/t gold were received, see comprehensive sample data Table 1 and Figure 1 for locations. Geological mapping at the Cobble Zone has revealed a large area with an indeterminate number of stacked conglomerate units dipping 15 to 48 degrees towards the south-west. Our geological interpretation of the area suggests continuity of the conglomerates towards the south and west under overlying sandstones (see Figure 2).
The Cobble Zone hosts by far the thickest series of stacked conglomerate units identified anywhere on the Pardo Project. Since drilling has not been conducted in the area and the closest drilling is more than 1.3 km from the Cobble Zone (see Figure 3), the area remains untested. The widespread low-grade gold mineralization suggests that if the Cobble Zone contains coarse boulder conglomerate, there is excellent potential to discover high-grade gold mineralization similar to that identified on the Pardo JV property to the north.
Application for a work permit on new claims added to the 100% Pardo property in May is in process. A 0.5 meter grab sample from this new area assayed 5.6 g/t (see May 25th, 2016 press release) and the Company plans more extensive sampling once the work permit is in place.
Inventus is also pleased to report that it has been accepted for the Junior Exploration Assistance Program (JEAP), sponsored by the Northern Ontario Heritage Fund Corporation and the Ontario Prospectors Association. Inventus applied for the JEAP program to assist in reducing costs incurred on its bulk sampling program on the Pardo JV Property. The JEAP program will provide Inventus with a grant to return funds to the company for 33.3% of approved eligible exploration expenditures up to a maximum refund of $100,000.
To view the full press release with figures visit the Inventus Mining website at: www.inventusmining.com/news.
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