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Inventus Mining Aquires New Property Near Sudbury

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molee   Monday, 05/07/18 02:58:55 PM
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Inventus Mining Aquires New Property Near Sudbury

TORONTO, May 07, 2018 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE:IVS) (“Inventus” or the “Company”) reports that it has staked 188 square kilometers of new 100%-owned mineral claims located east-northeast of the Sudbury Basin. The claims targeted the Temagami Magnetic Anomaly, a large magnetic anomaly of similar size and intensity to that of the Sudbury Basin (formed by a meteorite impact 1.85 billion years ago), which hosts multiple world class Ni-Cu-PGE deposits (see Figure 1).

The claims were acquired after receiving an interim research report from the geological department of Wuerzburg University in Germany. The research findings relate to rocks from a deep borehole (AT-14-01) drilled by Canadian Continental Exploration Corp. (a private corporation 18% owned by Inventus) in 2014, on the peak of the Temagami Magnetic Anomaly. The drill hole is located 46 km from the eastern rim of the Sudbury Basin. It intersected unknown magnetic intrusive rocks with geochemical signatures similar to those of the unique offset dykes around the Sudbury Basin. Dating the source material for these unknown magnetic intrusive rocks further corroborated the geochemical observations, suggesting they could well be analogous to Sudbury Igneous Complex (SIC) Offset Dykes.

“This new finding considerably increases the exploration potential of the area representing the Temagami magnetic anomaly for SIC-type sulfidic Cu-Ni-PGE deposits.” – A. Kawohl and H. E. Frimmel, Wuerzburg, 2018.

For decades geologists have speculated that the Temagami Magnetic Anomaly is a Sudbury related intrusive body. Falconbridge, Teck Resources, and others tested this theory with some limited exploration in the early 1990’s. Results of this exploration were inconclusive. Inventus geologists and advisors now believe that a very significant intrusive body could exist. The potential implications of such an intrusive connected to the SIC are profound for exploration, which is why we have named the project Sudbury 2.0.

Sudbury 2.0 Project

Inventus intends to approach the exploration of the newly acquire property by initially looking for evidence on surface that supports our scientific thesis. An intrusion the size of the Temagami Anomaly would strongly affect the older overlying rocks, leaving evidence on surface in the form of dykes and sills, and as hydrothermal alteration zones with breccia that would have been generated by the intense heat and enormous size of the intrusion.

Research and data acquisition over the past five months has produced a trove of information about the area including the occurrence of mafic dykes of undetermined origin and gold mineralization associated with extensive hydrothermal breccias across the Sudbury 2.0 property. Of particular interest is the Wolf Lake prospect, now surrounded by Inventus’ new claims, where high-grade gold and copper mineralization occurs in hydrothermal breccia; and the Cobalt Hill prospect where mineralized Cu-Au quartz veins in the breccia were found to contain fluid inclusions with mineral assemblages remarkably similar to quartz veins in Sudbury footwall deposits. This breccia belt extends for 18 km through the Sudbury 2.0 property (see Figure 2). In the northern part of the belt a large outcropping breccia zone, 1.0 km by 1.5 km in size, was identified and discussed in an obscure 1986 Ontario Geological Survey mapping report. It is evident that no exploration has been done on these rocks, as no historical claim staking or assessment work is recorded for the area.

Fieldwork on the Sudbury 2.0 project begins this week, with 27 areas identified to date for ground reconnaissance by geologists. The primary goal is to locate mafic dykes and structures containing alteration and Sudbury Breccia. Careful sampling of these areas, as well as geochemical and petrographic analysis of the rocks, will determine if they are associated with the Sudbury Igneous Complex (SIC).

Figures 1 and 2: http://inventusmining.com/s/May-7-Figures.pdf

Read more at http://www.stockhouse.com/news/press-releases/2018/05/07/inventus-mining-aquires-new-property-near-sudbury#go9TAbEsm8FWYl1Q.99

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