INVENTUS MINING Drills 97.5 m of 1.19 g/t AuEq including 3.3 m of 6.8 g/t AuEq at Cobalt Hill

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce assay results from its drill program at the Cobalt Hill target on its 100%-owned Sudbury 2.0 Projects near Sudbury, Ontario.

Highlights include:

  • CH-22-11 intersected 97.48 metres (m) of 1.19 g/t gold equivalent AuEq1
                           including 3.28 m of 6.79 g/t AuEq
  • CH-22-07 intersected 64.4 m of 1.25 g/t AuEq
                           including 16.93 m of 2.10 g/t AuEq
  • CH-22-10 intersected 38.77 m of 1.10 g/t AuEq
                           and 42.43 m of 1.07 g/t AuEq

“Inventus has expanded the Cobalt Hill mineralized zone with the 4,200 metres of drilling completed so far this year. Multiple wide intersections of continuous Au-Co-Ni mineralization were encountered. With access to drill core and multi-element assays, our team now has insight into the geology and mineralization that will be used to identify vectors for future drilling. The gold values >5 g/t in holes 10 and 11 are significant and may be part of a higher-grade core. The system is open at depth, and we look forward to conducting additional exploration drilling. Currently, we are investigating a completely new area of sulphide breccia on the surface at the Dorland Prospect that looks analogous to Cobalt Hill,” commented Stefan Spears, Chairman and CEO.

Cobalt Hill Drilling

At the Cobalt Hill Au-Co-Ni target, assays from the remaining five diamond drill holes, CH-22-07, CH-22-09A, CH-22-10, CH-22-11, and CH-22-12, have been received (see Table 1). The program successfully probed the extent and metal endowment of the mineralized sulphide breccia from surface to a depth of 350 m. Drilling results have shown an approximate 100 m by 100 m body of sulphide breccia that extends from the surface to 350 metres and remains open down plunge to the southeast.

A plan map of hole locations, drill hole cross-sections, and a 3D interpretation of the mineralized sulphide breccia are provided in Figures 1 to 7. Drill hole coordinates are provided in Table 2.

Hole CH-22-07 was drilled to crosscut the sulphide breccia from east to west and intersected 64.4 m of 1.25 g/t AuEq, 0.61 g/t gold (Au), 460 ppm cobalt (Co) and 191 ppm nickel (Ni); including 16.93 m of 2.10 g/t AuEq, 1,18 g/t Au, 693 ppm Co and 204 ppm Ni.  

Hole CH-22-09A tested the deeper extent of sulphide breccia from 200 to 300 m to the southwest of CH-22-05A and CH-22-06; it returned more consistent cobalt and nickel values and lower gold values. The hole intersected 133.53 m of 0.50 g/t AuEq, 0.14 g/t Au, 248 ppm Co and 124 ppm Ni; and 69.16 m of 0.64 g/t AuEq, 0.23 g/t Au, 253 ppm Co and 220 ppm Ni. The fluctuation of gold, cobalt, and nickel assays in this hole, as well as hole CH-22-08, has indicated a halo of Co/Ni mineralization to the southeast and southwest that appears to surround the core of the system where higher-grade gold mineralization occurs.

Hole CH-22-10 was drilled to test the north extent of the sulphide breccia and intersected 38.77 m of 1.10 g/t AuEq, 0.67 g/t Au, 264 ppm Co and 245 ppm Ni; including 6.97 m of 3.25 g/t AuEq, 2.27 g/t Au, 573 ppm Co and 607 ppm Ni; and 42.43 m of 1.07 g/t AuEq, 0.83 g/t Au, 167 ppm Co, 94 ppm Ni; including 1.40 m of 6.35 g/t AuEq, 5.49 g/t Au, 581 ppm Co and 340 ppm Ni

Hole CH-22-11 tested the eastern extent of the sulphide breccia and intersected 97.48 m of 1.19 g/t AuEq, 0.87 g/t Au, 217 ppm Co and 136 ppm Ni; including 13.37 m of 2.09 g/t AuEq, 1.33 g/t Au, 479 ppm Co and 404 ppm Ni; and including 3.28 m of 6.79 g/t AuEq, 6.17 g/t Au, 460 ppm Co, 139 ppm Ni.

Hole CH-22-12 was drilled to test the northeast area of the sulphide breccia and intersected 50.21 m of 0.58 g/t AuEq, 0.31 g/t Au, 177 ppm Co and 127 ppm Ni; and 36.56 m of 0.49 g/t AuEq, 0.34 g/t Au, 104 ppm Co, 59 ppm Ni.

Table 1. Summary of Select Assays Intervals from Cobalt Hill

Hole ID From (m) To (m) Interval2(m) Au g/t Co ppm Ni ppm AuEq1g/t
CH-22-07 220.85 285.25 64.40 0.61 460 191 1.25
including 246.65 285.25 38.60 0.81 591 210 1.62
including 264.24 281.17 16.93 1.18 693 204 2.10
CH-22-09A 2.47 71.63 69.16 0.23 253 220 0.64
including 2.47 10.73 8.26 1.10 271 249 1.54
and 83.14 84.07 0.93 1.41 1247 1267 3.51
and 203.30 336.83 133.53 0.14 248 124 0.50
CH-22-10 1.11 39.88 38.77 0.67 264 245 1.10
including 1.81 8.78 6.97 2.27 573 607 3.25
and 51.22 93.65 42.43 0.83 167 94 1.07
including 61.69 63.09 1.40 5.49 581 340 6.35
CH-22-11 6.24 53.98 47.74 0.15 219 228 0.52
and 84.27 181.75 97.48 0.87 217 136 1.19
including 90.42 103.79 13.37 1.33 479 404 2.09
including 93.77 99.24 5.47 2.58 738 481 3.69
including 153.85 156.35 2.50 3.27 883 402 3.47
including 166.68 171.26 4.58 2.57 344 165 3.06
including 177.38 180.66 3.28 6.17 460 139 6.79
CH-22-12 0.82 51.03 50.21 0.31 177 127 0.58
and 69.91 106.47 36.56 0.34 104 59 0.49

Notes:
1AuEq calculated using April 5th, 2022, spot price of $1920 USD per oz Au, $82.00 USD per kg for Co and $33.31 USD per kg for Ni, and assuming metallurgical recovery of 90% for Co and Ni. Metallurgical characteristics are not yet known.
2Assay intervals were calculated using values of >0.1 g/t AuEq within <2.5-m interval.
Results are core lengths; true widths are not known.

Table 2. 2022 Drill Hole Collars

Hole ID Easting Northing Azimuth Dip Depth
CH22-01 527977 5187707 271 -70 273
CH22-02 528085 5187690 088 -43 180
CH22-03 528085 5187690 091 -70 366
CH22-04 528215 5187437 298 -70 561
CH22-05A 527816 5187922 135 -62 606
CH22-06 527816 5187922 133 -56 378
CH22-07 528023 5187886 248 -59 387
CH22-08 527855 5187842 100 -74 357
CH22-09A 527855 5187842 137 -75 384
CH22-10 527855 5187842 350 -60 99
CH22-11 527855 5187842 061 -69 180
CH22-12 527855 5187842 025 -61 132
CH22-13 527855 5187842 323 -59 66

Click here to view Figures 1 to 7: http://www.inventusmining.com/s/Jun_13_Figures.pdf

For further information, please contact:

Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
E-mail: [email protected]

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 140.6 million common shares outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person
The Qualified Person responsible for the geological technical content of this news release is Inventus’ Vice-President Exploration, Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

Technical Information
The samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay by Agat Laboratories in Mississauga, Ontario. The samples reported were crushed in their entirety to 75% passing -10 mesh, with one 250 g subsample split and pulverized to 85% passing 200 mesh. One 50 g aliquot was taken from the subsample for fire assay (FA) with an ICP-MS/ICP-OES/AAS finish. Multi-element assays were done by Sodium Peroxide Fusion with ICP-OES/ICP-MS finish. Samples over 10 g/t gold are subject to a 50 g aliquot FA with gravimetric finish.

Forward-Looking Statements
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.


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