Exciting Developments at the Pardo Gold Project
Inventus Mining Corp. is thrilled to announce the launch of its Phase 2 drilling program at the Pardo Gold Project, which is fully owned by the company. This significant step is part of their ongoing commitment to advance the project, located strategically northeast of Sudbury. The commencement of this drilling program not only demonstrates their progress but also marks a pivotal moment in the journey toward establishing a maiden resource estimate.
Details of the Phase 2 Drilling Campaign
The new Phase 2 drilling initiative comprises an ambitious plan of 98 shallow holes totaling around 2,500 metres. These carefully designed drills aim to test and confirm the continuity of the gold mineralization, specifically targeting the flat-lying formations known to host gold deposits at Pardo. Notably, the prior drilling efforts have revealed one of the thickest mineralized sections to date, significantly enhancing the project's viability.
Key Objectives of This Drilling Phase
The focus of this drilling campaign is to expand and affirm the continuity of the valuable near-surface gold mineralization. The data collected from this phase is crucial for producing an initial mineral resource estimate (MRE) for the project. This estimate will be fundamental in obtaining the necessary Mine Production Permit, allowing Inventus to transition from bulk sampling to active production.
Bulk Sample Processing Update
In addition to the drilling campaign, Inventus has confirmed the processing date for the 5,000-tonne bulk sample known as 007 North. Set for processing at McEwen Inc.’s Stock Mill on November 1, this bulk sampling effort is seen as a significant milestone in validating both the gold grade and recovery rates. The outcome of this processing could provide vital cash flow that would support further exploration efforts.
Importance of Bulk Sampling
The bulk sampling program plays a crucial role in confirming the potential economic viability of the Pardo Gold Project. The preliminary grade control drilling from the 007 North sample indicated a weighted average grade of 3.84 grams per tonne (gpt) gold over substantial thickness, solidifying the project’s potential. As Inventus gears up for processing, the company aims to leverage the insights gained from these samples to enhance its exploration strategies.
Industry Expert Insights
Wesley Whymark, the President and Head of Exploration at Inventus, expressed his enthusiasm regarding these developments. He mentioned, “This is indeed a thrilling time for Inventus. Our Phase 2 drill program is honing in on the most promising gold intersections we have encountered. With the forthcoming bulk sample processing, we anticipate demonstrating the project's strong potential for future economic success.”
About Inventus Mining Corp.
Inventus Mining Corp. operates within a prime mineral-rich area renowned for its resources. The company is committed to unlocking the potential of its key assets—the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project. Notably, the Pardo Project represents North America's first significant paleoplacer gold discovery, establishing Inventus as a pivotal player in the gold mining landscape.
Frequently Asked Questions
What is the Pardo Gold Project?
The Pardo Gold Project is a mineral exploration project fully owned by Inventus Mining Corp., focused on gold resources located northeast of Sudbury.
What is the aim of the Phase 2 drilling program?
The Phase 2 drilling program aims to expand and confirm the continuity of near-surface gold mineralization and gather data for the project's maiden resource estimate.
When will the bulk sample processing take place?
The processing of the 5,000-tonne 007 North bulk sample is scheduled for November 1.
What are the potential economic benefits of the Pardo Project?
The Pardo Gold Project intends to provide potential cash flows and establish a foundation for a mine production permit, leading to future production.
Who can I contact for more information?
For inquiries, you can contact Wesley Whymark, President and Head of Exploration at Inventus Mining Corp., via email or phone.
