Announcement • Jul 06
Inventus Mining Corp Reports High-Grade Gold Discovery in the Matinenda Layer At Pardo Project
Inventus Mining Corp. reported assay results from its ongoing Phase 2 drill program at the 100%-owned Pardo “River of Gold” Project, located 65 km northeast of Sudbury, Ontario. The latest Phase 2 drilling results have discovered high-grade gold mineralization within the Matinenda Layer, materially increasing the Company’s confidence in resource growth potential from multiple stacked, near-surface gold-bearing conglomerate horizons at Pardo. High-grade gold mineralization has been discovered in the Matinenda Layer, upgrading the Company’s view of this secondary target and highlighting its potential to contribute ounces to the planned maiden resource estimate. Phase 2 drilling highlights include: 2.82 g/t gold over 2.43 m, including 4.27 g/t gold over 1.43 m and 10.51 g/t gold over 0.50 m in the Matinenda Layer within a broader interval of 1.09 g/t gold over 10.82 m (PD-26-297); 1.78 g/t gold over 4.32 m, including 3.75 g/t gold over 1.40 m and 7.06 g/t gold over 0.50 m in the Matinenda Layer within a broader interval of 0.98 g/t gold over 9.05 m (PD-26-299); 1.20 g/t gold over 5.28 m, including 2.39 g/t gold over 1.82 m in the Matinenda Layer within a broader interval of 0.81 g/t gold over 11.62 m (PD-26-284). A second drill rig was mobilized to site on June 18 to expedite drilling. An additional 57 holes have been completed with assays pending and the Company anticipating another 120 drill holes to be completed prior to the cut-off date for the planned maiden resource estimate. Inventus is rapidly advancing its fully funded Phase 2 drill program at Pardo, targeting multiple stacked, near-surface gold-bearing conglomerate layers, including the Main, Matinenda and Upper horizons. With a second drill rig mobilized on June 18, the Company completed 57 additional holes with assays pending and expects to complete at least 120 more holes ahead of the maiden resource estimate. The shallow, flat-lying and laterally extensive nature of the Pardo gold system enables fast, cost-effective drilling, allowing Inventus to quickly expand the mineralized footprint and build strong geological confidence. Recent results have demonstrated that the Matinenda Layer can contain high-grade gold. In addition to previously identified broad gold mineralization, drilling has now confirmed high-grade gold intervals, including 10.51 g/t gold over 0.50 metres in PD-26-297 and 7.06 g/t gold over 0.50 metres in PD-26-299, demonstrating the potential for the Matinenda Layer to contribute meaningful high-grade mineralization and expand the overall scale of the Pardo gold system. Drilling continues to confirm that Pardo hosts multiple stacked gold-bearing horizons, with several holes intersecting mineralization in both the Main and Matinenda layers. PD-26-297 returned 1.09 g/t gold over 10.82 metres across both layers starting at a depth of 20 metres, while PD-26-284 returned 0.81 g/t gold over 11.62 metres starting at 15 metres depth. These stacked layers enhance the overall thickness, continuity and growth potential of the system, positioning Pardo as a scalable, near-surface gold project with strong development flexibility. The Company and the mill are in the final stages of reconciling and validating the recent results from the 7,500-tonne bulk sample and expect to release them shortly. The first 2,512 tonnes processed earlier this year returned 172 ounces of gold, generating gold sales of $1.17 million and exceeding bulk sample costs by 102%. The Company has also extracted an additional 10,000-tonne bulk sample, which is pending processing. Approximately 20,000 tonnes of permitted bulk sample material remains available for extraction under the current bulk sample permit. The Company plans to continue expanding the mineralized footprint while advancing toward a maiden resource estimate, complete the bulk sample program, including processing the 10,000 tonnes of stockpiled material and extracting the remaining 20,000 tonnes of permitted material, complete the ore sorting test work to support the Company’s planned direct-ship ore development model, complete heap leach testing to evaluate onsite processing optionality as the scale of the Pardo gold system continues to grow, and advance production permitting initiatives for the near-surface part of the Main Layer, targeted for mid-2027.
