TORONTO, July 09, 2019 (GLOBE NEWSWIRE) — Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide details of recent metallurgical work on its 100% owned Pardo property 65 km Northeast of Sudbury, Ontario. The test work was conducted by SGS Canada at their metallurgical lab in Lakefield, Ontario.
The metallurgical test work was conducted on a representative mineralized conglomerate from the 007 Zone (the “Test Sample”) where the first phase of bulk sampling is planned.
- The Test Sample head grade was 6.4 g/t gold.
- A combination of gravity and flotation resulted in 95.2% gold recovery at a 5% mass pull, with a tail assay of 0.3 g/t gold.
- Gravity concentration alone resulted in 42.8% gold recovery at a 0.08% mass pull, and a concentrate grade of 3,087 g/t gold.
- Environmental test work on the gravity plus flotation tails returned <0.05% sulfur and indicated residues would not likely be acid generating.
- These results are very encouraging because it establishes that gravity and flotation processing is probably the preferred treatment method and effectively manages potential environmental issues.
“Our objective with this work was to demonstrate that material from Pardo can be processed at a verity of process facilities. We discovered that low cost gravity plus flotation is highly effective at producing two gold concentrates that would be readily marketable, and that any environmental concerns about the resulting tailings are alleviated,” stated Stefan Spears, Chairman and CEO.
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the advanced exploration stage Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 110,301,069 common shares outstanding (123,925,235 shares on a fully diluted basis).
For further information, please contact:
Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280
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. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
The Qualified Person responsible for the geological technical content of this news release is Wesley Whymark, P.Geo., who have reviewed and approved the technical disclosure in this news release on behalf of the Company.
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 at Pardo, the inability to complete a feasibility study which recommends a production decision, the preliminary and limited nature of metallurgical test results (including the result of the bulk sample as described herein), delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political and legal 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.