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Inventus Mining Corp. (TSXV: IVS,OTC:GNGXF) ("Inventus" or the "Company") is pleased to announce that it has selected SRK Consulting (Canada) Inc. ("SRK") to complete a maiden Mineral Resource Estimate ("MRE") and updated NI 43-101 Technical Report for the Company's 100%-owned Pardo "River of Gold" Project, located 65 km northeast of Sudbury, Ontario.
Wesley Whymark, CEO & Director, comments: "The selection of SRK keeps Pardo firmly on track with the development timeline we established earlier this year. SRK's extensive paleoplacer and Witwatersrand experience is particularly well suited to Pardo's coarse-gold system and our large drilling, channel-sampling and bulk-sampling datasets.
Importantly, this maiden resource is intended to cover only a part of the broader Pardo Project. We are advancing it at this stage to provide the technical foundation needed for our DSO production plan, including mine planning and grade control, rather than to define the ultimate scale of the Pardo gold system. We believe the much larger resource potential will be demonstrated through continued drilling over time, with future Direct Ship Ore ("DSO") production having the potential to help fund that expansion."
The appointment of SRK represents an important milestone in the advancement of Pardo toward its first mineral resource and DSO production plan. SRK is an internationally recognized mining consultancy with extensive experience in mineral resource estimation, geological modelling, geostatistics and independent technical review.
Of particular importance is that SRK's technical team has significant direct experience evaluating paleoplacer and conglomerate-hosted gold deposits, including extensive work on the Witwatersrand Basin of South Africa. The Witwatersrand is the world's best-known paleoplacer gold system and the largest gold deposit on the planet, providing highly relevant technical experience for understanding the geological continuity, sampling challenges, and resource estimation considerations associated with Pardo.
The work will include a detailed review of the Company's bulk-sampling results and their integration into the maiden MRE. The independent resource model will provide an important technical foundation for Inventus's planned DSO production strategy by helping define mineable zones, grade-control parameters and the continuity of mineralization targeted for potential selective mining and off-site processing. Together with the Company's bulk-sampling experience, the MRE will help refine mining selectivity, dilution, recovery and production assumptions as Pardo advances toward additional resource growth and a larger-scale operation.
For further information visit www.inventusmining.com, or contact:
Wesley Whymark
CEO & Director
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
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About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. We have a 100% interest in our principal assets, the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project, located northeast of Sudbury. The Pardo Gold Project is the first important paleoplacer gold discovery in North America. Inventus has approximately 221 million common shares outstanding.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Wesley Whymark, P.Geo., CEO and Director of Inventus, who has reviewed and approved this release. Mr. Whymark is not independent of the Company.
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". Forward-looking information in this news release includes statements concerning potential processing strategies, ore sorting, off-site milling, heap leaching, recoveries, leach durations, reagent consumption, future testwork, engineering and economic studies. 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.
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