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Inventus Mining Provides Pardo Bulk Sample Results, The Canadian Business Journal

TORONTO, September 27, 2022 (GLOBE NEWSWIRE) — Inventus Mining Corporation (TSX VENTURE: IVS) (“Inventus” or “Company”) is pleased to announce the results of its bulk sampling program at its wholly owned Pardo Project near Sudbury, Ontario. A 5,000 tonnes bulk sample from the 007 zone is of average head grade 3.4g/t Gold (Au) Uses excellent gravity recovery gold. A bulk sampling program successfully calibrated gold mineralization in a predicted block model generated using large diameter infill diamond drill holes.

Key results include:

  • sum of 4,979 dry tons Treated with mineralized rock head grade 3.4 g/t Au.
  • Bulk sample head grades were strongly consistent with predictive block model grades 3.3 g/t Au.
  • Contains gravity and flotation concentrates 438 ounces of gold, Approximate value 1 million Canadian dollars.
  • Of the 438 ounces of Au recovered, 299 oz Au represent 68% Contained in gravity concentrates, 138 oz Au represent 32% It was included in flotation.
  • The overall metallurgical performance of bulk samples was not balanced. This is attributed to high-gravity recoverable gold, with an estimated ∼76 oz of Au remaining in the mill circuit.

Geology and Mineralization

The 007 zone bulk sample was extracted from a horizontal mineralized conglomerate ‘reef’ occurring at depths of up to 4 meters (m) below the surface. The conglomerate reef has an average thickness of 2.5 m and is composed of 72% clusters and 28% matrix, with all mineralization contained in the matrix. Mineralization occurs as dispersed pyrite and gold within the matrix surrounding clusters within the agglomerate. The conglomerate reef had sharp foot-wall contacts that were easily identifiable during mining.

Infill Drilling and Block Model Prediction

Prior to extracting bulk samples, the area was diamond drilled with 28 large diameter (7 cm) holes on 5 m centers for grade estimation purposes. A sample of the drill core used in the predictive block model was obtained from the density measurement (2.79 t/m3) and whole-core sampling to provide a sufficient sample size for the assay. A hard boundary was created to wireframe the block model domain using geological contact from infill excavation.The predicted block model is 5,526 tons grading 3.3 g/t Au.

Mining and grading

Bulk sample extraction was relatively straightforward due to its position on the surface and horizontal orientation. Bulk samples were drilled and blasted at 1.2 meters to the core and the mineralized material was ground to less than 4 inches in situ. Tight control of blast contact and pit macking was not consistently maintained due to winter weather conditions during mining. A post-operation evaluation of the bulk sample pit indicated that approximately 450 tons of material remained in the pit, diluted somewhat by footwall overblasting.

The mined blocks that were mined were from the surface of the mineralized reef to the petrological contact below. Drilling results showed that the top of the reef (1–1.5 m deep from the surface) had the highest grade, with much lower grades closest to footwall contact. The decision to extract the entire unit provided important information. However, you can also use a more selective mining approach that targets grades.

process

Between January and February 2022, a total of 5,140 wet tons were trucked to a plant near Timmins, as measured by the plant’s truck scale. Bulk sample processing he took place in mid-February, with gravity and flotation. Bulk sample results are table 1A total of 89 ball-milled feed samples and 88 tail samples were collected during the bulk sample run to generate 9 daily composite samples for assay.The composite sample from the ball mill feed had an average grade of 3.38 g/t Au (“head grade”), and tail samples are of average grade 0.17 g/t gold (“tail grade”).

The sample was calculated to contain 541 oz of Au and a total of 438 oz of Au was recovered.%. However, it is likely that a significant amount of gold remained in the milling circuit due to the high proportion of gold recovered by gravity and the large difference in ounces between stored and recovered gold. Efforts were made to clean the mill circuit, resulting in the recovery of 13.7 oz of Au, but many areas, including the two ball mills, were not cleaned. The amount of gold left in the mill circuit is estimated at about 76 ounces, but cannot be measured. Therefore, the overall true adjusted head grade and recovery of bulk samples are inconclusive.

Table 1. 007 Zone Bulk Sample Results

bulk
sample
Head
School year
Calculated
contains
Oh
gravity
concentration
flotation
concentration
total
recovered
Oh
tail
Oh
estimated money
remaining
in-circuit1
tons
(dry)
Gold (g/t) Troy
ounce
tons
(dry)
Troy
ounce
tons
(dry)
Troy
ounce
Troy
ounce
Oh
(grams/tonnes)
Troy
ounce
troy ounce
4,979 3.38 541 8.3 299.3 102.4 138.3 437.6 0.17 27.3 +/- 76.1

1of Estimate remaining money in-circuit is the expected amount of gold not recovered in milling circuit. In-circuit loss very likely with high gravity recovery money It should be considered during future bulk sampling.

concentrate

Gravity concentrate and high-grade mill-purified material totaled 8.3 dry tons of material with an average grade of 1,118.4 g/t Au. The gravity concentrate was shipped to a Chicago smelter where analysis showed it to contain 299.3 ounces of Au. The flotation concentrate totaled 102.4 dry tonnes of material with an average grade of 42.0 g/t Au. The flotation concentrate was shipped to a Quebec smelter where analysis showed it to contain 138.3 ounces of Au.

For more information, please contact:

Mr Stephen Spears
Chairman and CEO
Inventus Mining Corporation
Phone: (647) 258-0395 x280
Email: [email protected]

About Inventus Mining Corporation

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

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

qualified person
Wesley Whymark (P.Geo.), Vice President, Exploration, Inventus, is responsible for the geological technical content of this news release and has reviewed and approved the technical disclosures in this news release on behalf of the company. .

Technical guidance
The samples used to determine the head grade and tail grade assays described in this release were collected by Northern Sun Mining (“NSM”) on behalf of Inventus. Samples were taken by NSM every 2 hours during the run and daily composites were created. The samples collected for the head grade were approximately 1 kg and were systematically taken from the belt feeding the ball mill. Tail grade samples were collected in 1 L bottles from the final flotation cell before the final tail pump box. The daily composites were dried, divided into 150 g subsamples and shipped in secure sealed bags for assay by SGS Laboratories.

The samples used to determine the gravity concentration assay described in this release were collected by NSM and Sipi Metals. NSM collected samples using a pipe sampling unit, collecting eight pipe samples weighing approximately 5 kg for each of eight bulk bags of gravity concentrate. The samples were then dried, divided into 150 g sub-samples and shipped in secure sealed bags for assay by SGS Laboratories. Gravity-concentrated samples collected by Sipi Metals were divided into five lots, dried and ground to -40 mesh. Each lot was then blended and spear sampled to collect a subsample of approximately 5 kg. Subsamples were then further reduced by riffle splitting of 1 kg subsamples. A 1 kg subsample was then ground to -80 mesh and divided into three parts. A portion of the sub-sample aliquot was shipped to Inventus in a secure sealed bag, which was then shipped by Inventus to SGS Laboratories for assay.

The samples used to determine the flotation concentrate analysis described in this release were collected on a Horne Smelter and analyzed by a third-party independent lab, Alfred H Knight.

Forward-Looking Statements
This news release contains certain “forward-looking statements” that are not statements of historical fact. Forward-looking statements include estimates and statements that describe our future plans, objectives, or goals, including language to the effect that we or management expects the stated conditions or results to occur. . Forward-looking statements are defined as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “if,” “yet.” may be identified by terms such as ”, “may”, etc. , ‘undecided’, ‘purpose’, or ‘planned’. Forward-looking statements are based on assumptions and address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. These statements are based on information currently available to us, but there is no guarantee that actual results will meet management’s expectations.


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Inventus Mining Provides Pardo Bulk Sample Results, The Canadian Business Journal

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