Inventus Mining and McEwen Mining: A Collaborative Agreement
Inventus Mining Corp. is thrilled to share that it has framed a Memorandum of Understanding (MOU) with McEwen Mining to explore the operational viability of utilizing the Stock Mill for processing materials from its significant Pardo Gold Project, situated east of Sudbury, Ontario. This partnership represents a pivotal step towards realizing the project's full potential.
Details of the Agreement
The MOU underscores the shared intent between Inventus and McEwen Mining to assess the feasibility of processing bulk sample materials. This evaluation is fundamental from regulatory, operational, and economic standpoints. Currently, Inventus holds a permit that allows for the extraction of a 50,000-tonne bulk sample from Pardo. Furthermore, the company intends to begin processing as much as 45,000 tonnes of this material within the next year.
Previous Bulk Sampling Successes
Previously, Inventus successfully conducted two bulk sampling operations at Pardo in 2022 and 2017, extracting 5,000 and 1,000 tonnes respectively. These efforts returned impressive gold grades of 3.4 grams per tonne and 4.2 grams per tonne, reflecting the project's promising prospects. By leveraging these insights, the company aims to further validate the economic viability of Pardo’s gold resources.
Operational Plans Moving Forward
If the findings from the ongoing evaluation deem processing at the Stock Mill feasible, Inventus plans to commence bulk sampling activities without delay. The evaluation process is on track to conclude soon, ensuring that operations can begin promptly if the results are favorable.
Strategic Importance of the Pardo Gold Project
The Pardo Gold Project stands out within the region as the first notable paleoplacer gold discovery in North America. Its strategic value is underscored by Inventus' commitment to advancing the project. Wesley Whymark, President and Head of Exploration, expressed optimism about the discussions with McEwen Mining. He emphasized that collaborating on the Stock Mill processing could significantly bolster Inventus’ position in the market.
Environmental and Operational Transparency
The MOU also highlights both companies' commitment to maintaining environmental responsibilities. Under the agreement, McEwen Mining will obtain the necessary regulatory approvals while processing the bulk sample materials in controlled batches to ensure optimal results. Inventus is tasked with delivering compliant materials and covering milling costs, ensuring a smooth operational process.
The Future of Inventus Mining
As Inventus Mining continues to advance its projects, it remains focused on leveraging partnerships that enhance its operational capabilities. With approximately 192 million common shares outstanding and a strong foundation within the Sudbury mining district, the company is poised for growth. The collaboration with McEwen Mining not only marks a strategic alliance but also enhances the credibility of the Pardo Gold Project.
Communication and Inquiries
For any inquiries or details about Inventus Mining and its ongoing projects, stakeholders and interested parties can reach out to Mr. Wesley Whymark, who serves as the President and Head of Exploration. He can be contacted via email or through the company phone at 705-822-3005.
Frequently Asked Questions
What is the purpose of the MOU between Inventus and McEwen Mining?
The MOU aims to evaluate the feasibility of using McEwen's Stock Mill for processing materials from Inventus' Pardo Gold Project.
How much material does Inventus plan to process in the next year?
Inventus intends to process up to 45,000 tonnes of gold-bearing material from the Pardo Gold Project within the next 12 months.
What were the results of previous bulk sampling at Pardo?
Previous bulk sampling operations returned gold grades of 3.4 grams per tonne in 2022 and 4.2 grams per tonne in 2017.
Who is the contact person for more information about Inventus Mining?
Mr. Wesley Whymark serves as the contact for inquiries, and he is the President and Head of Exploration at Inventus Mining.
What environmental responsibilities do the companies maintain under the MOU?
Both Inventus and McEwen Mining are responsible for their respective environmental obligations during the processing of materials.
