Inventus Mining Enhances Operations with Warrant Exercise
Inventus Mining's Strategic Advancements in Gold Exploration
Inventus Mining Corp. (TSXV: IVS) is making significant waves in the mineral exploration scene with recent developments that underscore the company's commitment to its gold endeavors. With the exercise of common share purchase warrants by McEwen Mining, Inventus is gearing up for an exciting period of growth at its 100%-owned Pardo Gold Project.
Warrant Exercise by McEwen Mining
In a notable financial development, McEwen Mining has exercised an impressive 9,200,000 common share purchase warrants, injecting a sum of $828,000 into Inventus Mining. This strategic maneuver is part of the company’s early warrant exercise incentive program, designed to bolster funding for upcoming projects.
Utilizing Proceeds for Upcoming Plans
The funds raised from this warrant exercise will directly support Inventus’s ambitious bulk sampling program scheduled for 2025 at the Pardo Gold Project. Located 65 kilometers northeast of Sudbury, Ontario, Pardo is recognized for its potential and past successes in gold extraction.
Grade Control Drilling Initiated
As part of the bulk sampling strategy, Inventus is excited to announce that grade control drilling has commenced at the Pardo site. This vital drilling phase aims to accurately define zones of mineralization, paving the way for efficient extraction processes. The current drilling program consists of approximately 50 shallow holes targeting areas within 5 meters of the surface, expected to be completed within a month.
Previous Bulk Sampling Success
Historically, bulk sampling at Pardo has demonstrated promising results. Notably, a previous study yielded results of 3.4 grams per tonne (gpt) gold from a bulk sample of 5,000 tonnes, and 4.2 gpt gold from 1,000 tonnes, validating the project's potential for profitable surface mining.
Leadership Insights
Wesley Whymark, the President and Head of Exploration at Inventus Mining, expressed enthusiasm about the partnership with McEwen Mining. According to Whymark, this collaboration and the financial backing from the warrant exercise will significantly advance their plans for 2025. He emphasized the importance of delineating the characteristics and gold grades of the bulk sample sites to enhance future extraction efforts.
Collaboration with McEwen Mining
Further enhancing operations, Inventus Mining has entered into a Memorandum of Understanding with McEwen Mining to explore the feasibility of processing bulk sample materials at McEwen's Stock Mill facility. If deemed viable, this partnership may allow for the processing of up to 45,000 tonnes of material from Pardo over the next twelve months, further solidifying Inventus’s strategic position in the mining landscape.
About Inventus Mining Corp.
Inventus Mining is a dynamic mineral exploration and development firm, rooted in the world-class mining district of Sudbury, Ontario. The company proudly holds a **100%** interest in the Pardo Paleoplacer Gold Project, alongside the Sudbury 2.0 Critical Mineral Project, both of which are pivotal to their forward strategy. With approximately **192 million common shares** outstanding, Inventus is well-positioned to enhance its impact within the industry.
Contact Information
For more information about Inventus Mining and their ongoing projects, reach out to:
Mr. Wesley Whymark
President and Head of Exploration
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
Frequently Asked Questions
What is the recent development at Inventus Mining?
Inventus Mining has announced the early warrant exercise by McEwen Mining, raising $828,000 for its operations.
How will the funds from the warrant exercise be utilized?
The funds will support the bulk sampling program at the Pardo Gold Project, facilitating grade control drilling and other essential activities.
What are the goals of the grade control drilling at Pardo?
The drilling aims to more accurately define the zones of mineralization, ultimately aiding in the planned extraction process.
What are the historical results of bulk sampling at Pardo?
Previous bulk samples at Pardo returned strong grades, including 3.4 gpt gold and 4.2 gpt gold.
Who is leading the exploration efforts at Inventus Mining?
Wesley Whymark serves as the President and Head of Exploration, overseeing the company’s strategic direction and technical developments.
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