INVENTUS PROVIDES DRILLING UPDATE AT SUDBURY 2.0

TORONTO, ONTARIO (March 22, 2021) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) announces assay results from its drilling program at the Lake Zone, part of its 100%-owned Sudbury 2.0 project near Sudbury, Ontario.

 

Drilling highlights include:

 

• 18.5 m of 7.0 g/t gold (restated) from Hole WL-20-01

• 0.5 m of 36.4 g/t gold and 25.3 m of 1.2 g/t gold from Hole WL-21-02

• Highly anomalous assays up to 4.5 g/t gold from hole WL-21-03

• Highly anomalous assays up to 6.6 g/t gold from hole WL-21-04

 

A total of 7 drill holes have been completed in the current exploration program; 4 were located at the Lake Zone and 3 at Cobalt Hill about 1 km to the South. Results from Cobalt Hill will be the subject of a subsequent news release.

 

Inventus’ drilling from the Lake Zone has confirmed the presence of a large mineralized sulfide breccia structure under the lake (Figure 1). The mineralized breccia body appears to be a continuous unit with a NE-SW strike and is dipping steeply towards the east. The high-grade gold intersections from holes WL-20-01 and WL-21-02 suggest that this breccia body has excellent exploration potential with a strike length of over 500 metres.

 

The mineralized breccia unit varies in thickness and sulfide content along strike, indicating preferential fluid pathways and/or structures may host high-grade polymetallic mineralization. A very good correlation between sulfides, mainly pyrite, and polymetallic gold mineralization may enable us to target higher grade areas using geophysical methods.

 

To refine our ability to target high-grade mineralization with drilling at the Lake Zone, Inventus is preparing to conduct an induced polarization (IP) survey.

 

Assay results from the Lake Zone and a description of each of the 4 holes is provided below.

 

Drill hole WL-20-01 tested the mineralization at the historic outcrop and shaft area (see news release dated January 19, 2021). A total of 10 samples from the drill core were re-assayed using the metallic screen method to account for coarse gold. 8 of 10 samples returned higher gold content with a 28% average increase in grade. The drill intersection, including the metallic screen assays, is now restated as 18.5 metres of 7.0 g/t gold, 0.8% copper and 0.02% cobalt from 33 m to 51 m down hole. See select drill core intervals in Table 1 and a cross section of the drill hole in Figure 2.

 

Table 1. WL-20-01 Assay Intervals including re-assayed metallic screen samples

 

 

Drill hole WL-21-02 was designed to test the mineralization at depth approximately 200 metres below surface. A

narrow sulfide vein carrying 36.4 g/t gold was intersected at 13.5 metres down hole, proximal to the mineralized zone

in hole WL-20-01. The hole intersected 113 metres of hydrothermal breccia with variable pyrite and chalcopyrite

mineralization from approximately 367 m to 480 m down hole. The mineralized breccia had 25.3 metres of 1.2 g/t

gold and 0.02% cobalt from 454 to 480 metres including 9.2 metres of 2.3 g/t gold and 0.05% cobalt. See select

assay intervals in Table 2 and a cross section of the hole in Figure 2.

 

Table 2. WL-21-02 Assay Interval Summary

 

 

Drill hole WL-21-03 intersected 156 metres of alteration and hydrothermal breccia from 12 to 168 metres

approximately 400 metres north along strike of WL-21-02. See select assay intervals in Table 3 and a cross section

of the hole in Figure 3.

 

Table 3. WL-21-03 Assay Interval Summary

 

 

Drill hole WL-21-04 intersected the alteration and hydrothermal breccia 100 metres south and downdip of the

intercept in WL-21-03. A low-grade intersection of 32 metres of 0.4 g/t gold was intersected from 384 to 416 metres.

See select assay intervals in Table 4 and a cross section of the hole in Figure 4.

 

Table 4. WL-21-04 Assay Interval Summary

 

*Intervals are core lengths, true widths are not known. n/s – no significant value