Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Inventus Mining Reports Positive Results From Its 80-Hole Drill Program at the Pardo Gold Project; Confirms Continuity of Shallow Gold Mineralization and Outlines Next Steps
TORONTO, March 25, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce results from its 80-hole Phase 1 Resource Drill Program at the 100%-owned Pardo Gold Project located 65 km east of Sudbury, Ontario.
The program was designed to sample areas of shallow, flat-lying gold mineralization to establish continuity and consistency of gold grades. Results from the program have successfully confirmed continuity of the gold mineralization within 18 metres of surface which remains open for expansion. Highlights from all 80 drill holes are presented in Table 1, with drill hole locations and corresponding gold grades illustrated in Figure 1. The Phase 1 drill results have clearly demonstrated the project’s merits highlighting the potential for rapid development of a low-cost, surface mining operation.
Advancing Toward Resource Definition and Bulk Sampling
The results from the Phase 1 Resource Drill Program have provided a foundation and methodology to further define the gold mineralization and develop a mineral resource estimate on the property. The current drilling has defined the 2-metres-thick mineralized unit over an area of approximately 400 by 550 metres in size, which remains open for further expansion (Figure 2). A follow-up phase 2 drill program is planned and will focus on expanding the mineralization prior to a mineral resource estimate. The company is also assessing the opportunity to utilize its 50,000-tonne bulk sample permit on the property. As part of the Phase 1 drilling, the permitted bulk sample area was tested to demonstrate the gold grade of a future bulk sample site (Figure 3).
Ontario Junior Exploration Program (OJEP) Grant
Inventus is pleased to report that it has received payment of $200,000 from the Ontario Ministry of Mines as part of the OJEP grant. The grant provided funding for 50% of exploration expenditures that were incurred during the 80-hole Phase 1 Resource Drill Program.
“The final results from our Phase 1 drill program have confirmed that the gold-bearing reef at Pardo is continuous, remains open for expansion, and can be defined with large diametre core,” stated Wesley Whymark, President and Head of Exploration. “These results strongly reinforce our goal of developing a low-capital, high-margin surface mining operation. With year-round access and proximity to Sudbury’s world-class mining infrastructure, Pardo presents a compelling opportunity for near-term development. Moving forward, we plan to pursue additional bulk sampling alongside a Phase 2 resource drill program. Additional bulk sampling will demonstrate more confidence of the gold grade and project economics, while the phase 2 drilling will define a larger area of gold mineralization and set the stage for a maiden resource estimate.”
Mr. Wesley Whymark President and Head of Exploration Inventus Mining Corp. E-mail: wesley@inventusmining.com Phone: 705-822-3005
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 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 183 million common shares outstanding.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Inventus’ President and Head of Exploration, Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Technical Information
Drill core samples collected by Inventus and described in this news release were subject to a variety of QA/QC protocols. Drill core was placed in core boxes by the drill crew contracted by the Company. Core was then transported by Inventus personnel to a secure processing facility in Sudbury, Ontario. The core was then reviewed with core metreage blocks checked to verify core integrity, recovery and geologically logged with samples marked. Core samples were then photographed and inserted into a clean plastic bag with a sample tag. Certified reference materials were inserted into the sample stream at a rate of no less than 10%. Samples were then transported in secure sealed bags with security tags for preparation and assay by MSA Labs in Timmins and Val-d’Or, both certified labs with AC89, IAS accreditation and compliance with ISO/IEC standard 17025:2017. All samples reported were crushed in their entirety to 70% passing 2 mm. Three different subsample preparation methods were conducted on the samples due to the large size of the samples (PQ Size Core).
One (1) 300- to 500-g subsample was riffle split and placed into a jar for gold analysis by photon assay.
Two (2) 300- to 500-g subsamples were riffle split and placed into jars for gold analysis by photon assay in duplicate.
Two (2) samples comprising 2kg each were riffle split and pulverized to 80% 75 microns (-200 mesh) and one (1) 300- to 500-g subsample was riffle split and taken from each and placed into a jar for gold analysis by photon assay.
Samples above and below the targeted mineralized zone were assayed using method 1 above while the targeted mineralized zone was assayed using method 2 and 3. Final assays were then checked by Agat Laboratories in Thunderbay, Ontario. Check assays were conducted on approximately 5% of the samples using fire assays and comprised a series of low, medium and high-grade assays to independently verify accuracy of the results.
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. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Fig 1
Figure 1. Plan map illustrating gold grade (gpt Au) of the approximately 2-metre-thick gold-bearing reef at the Pardo Gold Project.
Fig 2
Figure 2. Plan map illustrating the area of currently drilled gold mineralization and the regional extent of the targeted host geology open for expansion.
Fig 3
Figure 3. Plan map illustrating permitted bulk sample location and gold grade (gpt Au) of the approximately 2-metre-thick gold-bearing reef at the Pardo Gold Project.
Table 1. Drilling Assay Highlights.
Drill Hole
From (metres)
To (metres)
Interval1 (metres)
Gold Grade (gpt)
PD-24-01
3.53
5.27
1.74
0.8
PD-24-02
5.03
8.14
3.11
1.3
Including
5.03
6.50
1.47
2.3
Including
5.49
5.99
0.50
4.2
PD-24-03
6.31
7.73
1.42
1.5
PD-24-04
9.00
11.21
2.21
1.8
Including
9.82
10.32
0.50
5.8
PD-24-05
7.67
10.10
2.43
4.6
Including
9.16
10.10
0.94
11.5
Including
9.64
10.10
0.46
21.2
PD-24-06
8.65
10.55
1.90
0.8
Including
9.60
10.10
0.50
2.0
PD-24-07
7.27
7.95
0.68
0.2
PD-24-08
9.00
10.90
1.90
1.1
PD-24-09
4.73
6.56
1.83
2.9
Including
5.15
5.60
0.45
11.1
PD-24-10A
10.00
12.24
2.24
3.2
Including
10.98
11.44
0.46
11.4
PD-24-11
12.19
13.30
1.11
0.3
PD-24-12
9.25
11.25
2.00
3.1
Including
9.75
10.25
0.50
10.6
PD-24-13
9.74
11.28
1.54
1.3
Including
9.74
10.26
0.52
2.8
PD-24-14
11.87
13.74
1.87
0.3
PD-24-15
11.17
13.00
1.83
0.5
PD-24-16
10.30
12.37
2.07
0.6
Including
11.86
12.37
0.51
1.4
PD-24-17
10.15
13.32
3.17
3.5
Including
10.15
10.65
0.50
11.9
And including
12.82
13.32
0.50
6.7
PD-24-18
10.50
11.72
1.22
1.6
Including
10.89
11.22
0.33
4.5
PD-24-19
15.83
16.75
0.92
2.6
Including
16.28
16.75
0.47
4.7
PD-24-20
7.79
9.45
1.66
1.2
PD-24-21
Zone Absent
PD-24-22
12.93
14.31
1.38
1.4
PD-24-23
8.75
10.25
1.50
0.5
PD-24-24
6.70
8.27
1.57
0.3
PD-24-25
7.58
9.25
1.67
1.0
PD-24-26
6.00
8.43
2.43
0.7
PD-24-27
7.10
7.50
0.40
0.2
PD-24-28
7.89
9.38
1.49
0.9
Including
8.36
8.68
0.32
2.0
PD-24-29
6.23
7.06
0.83
3.9
PD-24-30
8.52
9.45
0.93
0.2
PD-24-31
7.34
9.00
1.66
1.6
Including
7.34
7.75
0.41
4.6
PD-24-32
7.17
8.42
1.25
1.1
PD-24-33
7.25
8.24
0.99
0.9
PD-24-34
7.70
8.68
0.98
0.3
PD-24-35
9.90
10.50
0.60
0.3
PD-24-37
10.63
12.46
1.83
0.9
Including
12.00
12.46
0.46
2.2
PD-24-38
10.05
11.50
1.45
0.9
Including
11.00
11.50
0.50
1.6
PD-24-39
9.72
12.16
2.44
0.8
Including
11.33
12.16
0.83
1.8
PD-24-40
4.17
7.42
3.25
0.3
PD-24-41
10.11
12.04
1.93
1.2
Including
10.61
11.11
0.50
4.0
PD-24-42
14.55
15.45
0.90
0.3
PD-24-43
13.19
14.39
1.20
1.2
Including
13.69
14.05
0.36
3.7
PD-24-44
14.66
16.26
1.60
0.5
PD-24-45
12.14
14.13
1.99
1.6
Including
13.73
14.13
0.40
6.9
PD-24-46
11.50
13.10
1.60
1.1
Including
11.50
11.85
0.35
3.3
PD-24-47
0
1.80
1.80
0.3
PD-24-48
0
1.45
1.45
1.7
Including
0
0.50
0.50
3.2
PD-24-49
0.84
3.21
2.37
0.1
PD-24-50
0
1.25
1.25
0.6
PD-24-51
5.47
6.84
1.37
0.6
PD-24-52
0
2.66
2.66
0.3
PD-24-53
0.50
2.46
1.96
1.6
Including
1.50
2.46
0.96
2.9
Including
1.50
1.96
0.46
5.0
PD-24-54
1.17
2.68
1.51
1.2
Including
1.68
2.17
0.49
3.0
PD-24-55
9.08
11.17
2.09
2.1
Including
9.51
10.44
0.93
4.2
PD-24-56
Incomplete
PD-24-57
12.07
13.05
0.98
1.0
PD-24-59
Zone Absent
PD-24-60
8.69
10.40
1.71
2.4
Including
10.05
10.40
0.35
6.8
PD-24-61
Zone Absent
PD-24-62
8.70
9.21
0.51
0.1
PD-24-64
Structural Zone
PD-24-65
4.08
5.28
1.20
0.4
PD-24-67
9.80
11.30
1.50
0.1
PD-24-68
11.05
12.50
1.45
0.3
PD-24-69
16.00
17.50
1.50
3.6
Including
16.50
17.00
0.50
6.4
PD-24-70
15.00
16.39
1.39
3.4
Including
15.51
16.39
0.88
5.4
Including
15.93
16.39
0.46
6.8
PD-24-71
14.42
15.65
1.23
2.1
Including
15.21
15.65
0.44
4.8
PD-24-72A
13.89
15.88
1.99
1.2
Including
14.88
15.38
0.50
2.1
PD-24-75
9.37
11.38
2.01
0.6
PD-24-76
8.62
10.34
1.72
2.6
Including
9.56
10.00
0.44
7.4
PD-24-77
4.20
6.12
1.92
0.6
Including
4.20
4.70
0.50
1.6
PD-24-78
6.45
9.70
3.25
1.6
Including
8.28
9.70
1.42
3.1
Including
8.28
8.74
0.46
6.7
PD-24-79
9.69
11.55
1.86
1.5
Including
10.07
10.50
0.43
4.4
PD-24-80
7.75
9.55
1.80
0.8
PD-24-81
7.00
8.91
1.91
1.3
Including
8.00
8.51
0.51
3.5
PD-24-82
7.12
9.59
2.47
0.5
PD-24-83
3.62
5.44
1.82
1.6
Including
4.56
4.94
0.38
6.3
PD-24-84
10.25
11.74
1.49
1.9
Including
10.72
11.23
0.51
4.7
PD-24-85
7.79
10.27
2.48
2.0
Including
9.79
10.27
0.48
3.4
PD-24-86
8.60
8.93
0.33
0.3
1Interval width is approximate true thickness. Mineralization has a flat to 5-degree dip and all holes were drilled vertically with aninclination of -90 degrees.
Table 2. Details of drill hole locations reported in this press release.
