Inventus Mining and McEwen Mining: A Strategic Partnership
Inventus Mining Corp. (TSXV: IVS) is thrilled to announce an important milestone in its operational strategy by signing a milling agreement with McEwen Mining. This collaboration marks a significant advancement for the company as it gears up for processing bulk sample material from its highly regarded Pardo Gold Project.
Details of the Milling Agreement
The freshly inked agreement grants Inventus the capability to process up to 5,000 tonnes of gold-bearing materials each month, with an anticipated total processing volume of 45,000 tonnes. McEwen's Stock Mill will serve as the site for this operation. Notably, this partnership follows a successful milling of a 1,000-tonne bulk sample at the same facility in 2017, which yielded an impressive average grade of 4.2 grams per tonne (gpt) gold, along with a recovery rate of 89%.
Optimizing Recovery Rates
Inventus aims to leverage insights from previous metallurgical tests, which suggest that under optimized conditions, recoveries could reach as high as 95%. This improvement anticipates enhanced financial benefits for the company and its shareholders, showcasing the project's strong potential.
Progress on Bulk Sample Extraction
Currently, the bulk sample extraction at the 007 North site is underway, with Inventus targeting a total of 5,000 tonnes. Activities include waste removal and extracting the gold mineralization in preparation for milling. Execution is on track, with milling operations set to commence as early as late July. This phase of exploration is not merely about extraction; it also focuses on demonstrating the economic viability of the Pardo area's gold resources.
Future Plans and Projections
The extraction process at 007 North is highly promising, as preliminary grade-control drilling indicated an average grade of 3.84 gpt gold over 1.82 meters. Such data reinforces Inventus's commitment to its growth trajectory, with the processing of bulk samples expected to continue into the first half of the following year.
Understanding the Drilling Operations
On June 25, grade-control drilling resumed to finalize the extraction plan for the remaining 30,000 tonnes of the cumulative 45,000-tonne bulk sample program. This operation builds on initial success, underlining the company's strategic focus on diversifying and increasing gold mineral resources on site.
Drilling for Additional Resources
In addition to the bulk sampling effort, phase two of resource drilling is being conducted, aimed at defining further gold deposits at the site. Updates on drilling activity will be communicated accordingly as significant advancements occur.
Company Insights from Leadership
Wesley Whymark, President and Head of Exploration at Inventus Mining, emphasized that this milling agreement with McEwen Mining signifies a pivotal moment for the company. He stated, "This program is the start of something transformative for the Company," referring to the impending results of the milling process and the resultant gold revenue that could enrich shareholder value.
About Inventus Mining Corp.
Inventus Mining Corp. is a proactive mineral exploration and development entity with a laser focus on the renowned mining jurisdiction surrounding Sudbury, Ontario. The company possesses a 100% interest in both the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project. Notably, Pardo is recognized as the first significant paleoplacer gold discovery in North America, reinforcing Inventus's promising potential in the sector.
Contact Information
If you have inquiries or require further information, please reach out to:
Mr. Wesley Whymark
President and Head of Exploration
Inventus Mining Corp.
Email: wesley@inventusmining.com
Phone: 705-822-3005
Frequently Asked Questions
What is the significance of the milling agreement with McEwen Mining?
This agreement allows Inventus Mining to process a substantial amount of gold material, reflecting strategic growth and potential revenue generation for the company.
How much material will Inventus Mining process?
Inventus will process up to 5,000 tonnes monthly, leading to a total of 45,000 tonnes under the current agreement.
What is the average grade of gold expected from the extraction?
Initial estimates suggest an average grade of around 3.84 gpt gold from the targeted mineralization.
When is the milling process expected to begin?
The commencement of milling operations is anticipated around late July.
Who should interested parties contact for more information?
Inquiries can be directed to Mr. Wesley Whymark, President and Head of Exploration, via email or phone.
