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Inventus Mining Corp (2)
Symbol IVS
Shares Issued 167,964,904
Close 2023-10-18 C$ 0.05
Market Cap C$ 8,398,245
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Inventus drills 0.94 m of 1,700 ppm Co at Sudbury 2.0

2023-10-18 10:46 ET - News Release

Mr. Stefan Spears reports

INVENTUS PROVIDES EXPLORATION RESULTS FROM THE DORLAND CO-AU-CU-NI PROSPECT

Inventus Mining Corp. has released assay results from its drill program at the 100-per-cent-owned Dorland cobalt-gold-copper-nickel prospect, located 36 kilometres northeast of Sudbury, Ont.

The company followed up on encouraging cobalt and gold values in surface prospecting with 10 shallow diamond drill holes totalling 1,000 metres. The Dorland program is approximately 50 per cent government funded with the support of the Ontario Junior Exploration Program (OJEP). Drill holes intersected alteration and sulphide-breccia-hosted polymetallic mineralization within a steeply south-dipping structural zone. Assays returned grades up to 1,700 parts per million cobalt, 1.15 grams per tonne gold, 3,360 ppm copper, 3,510 ppm nickel and 0.34 per cent TREO (total rare earth oxides). A summary of select assay intervals is provided in an attached table.

The mineralized sulphide breccia was intersected over a 100 m east-west strike length with widths ranging from three m to 15 m and was tested to a depth of 80 m. Significant zonation of Co-Au-Cu-Ni mineralization was observed in the drilling with thicker intercepts of the breccia containing high values of Co-Au-Ni. An alteration halo was also observed surrounding the Co-Au-Ni sulphide breccia, which comprises albite, magnetite and quartz veins with magnetite, chalcopyrite and bornite. The mineralized sulphide breccia remains open at depth and to the west. Inventus believes the structurally controlled mineralization observed in the drilling is likely a splay structure coming from the much-larger (800 m east-west by 1,300 m north-south) area of alteration and sulphide breccia 200 m to the south.

The identification of polymetallic mineralization, including the presence of rare earth elements associated with hydrothermal iron enrichment (hematite and magnetite alteration), has indicated a strong analogue to iron-oxide-copper-gold-type mineral systems. The Dorland prospect appears to be analogous to Inventus's Cobalt Hill Au-Co-Ni prospect located 14 kilometres to the north; however, the presence of iron alteration and the full suite of Au-Co-Cu-Ni-REE (rare earth element) mineralization, more typical of IOCG deposits, has indicated a closer proximity to the source. This initial drill program tested a very limited area with a large prospective trend to the south which remains undrilled and an excellent IOCG-type exploration target with significant potential for discovery.

Work on an initial Sudbury 2.0 National Instrument 43-101 technical report is currently advancing, and regional prospecting of the area is continuing.

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ont. Inventus's principal assets are 100-per-cent interests in the Pardo paleoplacer gold project and the Sudbury 2.0 critical minerals project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America.

Qualified person

The qualified person responsible for the technical content of this news release is Inventus's vice-president of exploration, Wesley Whymark, PGeo, who has reviewed and approved the technical disclosure in this news release on behalf of the company.

Technical information

The drill core samples collected by Inventus described in this release were transported in secure sealed bags for preparation and assay by AGAT Laboratories. The samples reported were crushed in their entirety to 75 per cent passing minus-10 mesh, with one 500 g subsample split and pulverized to 85 per cent passing 200 mesh. One 50 g aliquot was taken from the subsample for fire assay with an ICP-MS/ICP-OES/AAS finish. Multielement assays were done by ICP-OES/ICP-MS finish.

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