INVENTUS DRILLS 4.4 g/t GOLD AND 0.09% COBALT OVER 7 METRES AT COBALT HILL Identifies Potential IOCG-Type Mineralization

TORONTO, ONTARIO (April 8, 2021) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce assay results from its drilling program at Cobalt Hill, part of its 100%-owned Sudbury 2.0 project near Sudbury, Ontario.

 

Drilling highlights include:

 

CH-21-02: 44 m of 1.3 g/t Gold, 0.04% Cobalt and 0.02% Nickel

Including 7 m of 4.4 g/t Gold, 0.09% Cobalt and 0.03% Nickel

(with individual assays up to 0.29% Cobalt and 0.11% Nickel)

 

CH-21-01: 16 m of 0.7 g/t Gold, 0.04% Cobalt and 0.03% Nickel

(with individual assays up to 0.17% Cobalt and 0.22% Nickel)

 

Inventus’ drilling at Cobalt Hill has confirmed the occurrence of polymetallic gold-cobalt-nickel mineralization enriched with rare earth elements (REEs). This type of mineralization is indicative of a potential Iron Oxide Copper Gold (IOCG) mineral system. IOCG systems typically occur in proximity to magnetic, dense and conductive geological environments with regional and/or structurally controlled alteration. The Sudbury 2.0 project, situated over the Temagami Geophysical Anomaly, with its dense, magnetic, conductive signature, checks all of these boxes. New geophysical modelling of historic magnetotelluric (MT) data collected by Falconbridge in the 1990s, has illustrated an area of conductivity extending towards surface below Cobalt Hill and the Lake Zone (Figure 1). A similar conductive feature is known to occur below the world-class Olympic Dam IOCG deposit, where it is interpreted to be a metalliferous fluid pathway from a deep conductive source.

 

The alteration and hydrothermal breccia at Cobalt Hill appears pipe-shaped and is approximately 500 x 400 metres in size on surface with an apparent vertical plunge. Similar to the Lake Zone, a very good correlation exists between sulfides, mainly pyrite, and the polymetallic gold mineralization. Inventus plans to conduct an induced polarization geophysical survey (IP) over Cobalt Hill to identify areas of higher sulfide content.

 

"We are very encouraged by these results, as they support our belief that the Temagami Geophysical Anomaly is a large intrusion responsible for the mineralization. The presence of cobalt, nickel and anomalous REEs is strong evidence for an intrusion-related mineral system. Several other exploration companies in the region have also made similar assertions of a potential IOCG system, which indicates the breadth of the exploration potential in the area. Using geophysics to trace the mineralization below surface above the district-scale gravity, magnetic and conductive anomaly on the Sudbury 2.0 property is the logical next step,” said Stefan Spears, Chairman and CEO.

 

Assay results from Cobalt Hill and a description of the drill holes are provided below.

 

Drill hole CH-21-02 was designed to test the mineralization at 200 metres depth where historic drilling intersected gold mineralization but was not sampled for cobalt or nickel. The hole intersected sodic and potassic alteration from surface to 287 metres. Breccia and quartz veins with variable sulfide mineralization were intersected from 84 to 116 metres and from 189 to 235 metres. Select assay intervals are listed in Table 1 and a cross section is provided in Figure 2.

 

Table 1. CH-21-02 Assay Interval Summary.

 

 

Drill hole CH-21-01 tested the near surface mineralization on the east shore of Jess Lake. The hole intersected breccia and quartz veins with variable sulfide mineralization from surface to 16 metres. Select assay intervals are listed in Table 2 and a cross section is provided in Figure 2.

 

Table 2. CH-21-01 Assay Interval Summary.

 

 

 

 

 

 

For further information, please contact:

 

Mr. Stefan Spears

Chairman and CEO

Inventus Mining Corp.

E-mail: info@inventusmining.com

 

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 Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 130,500,000 common shares outstanding.