Invenio Exercises Option to Acquire 75% of Kings Canyon and Green Springs Projects
April 05 2011 - 9:00AM
Marketwired
Invenio Resources Corp. ("Invenio" or the "Company") (TSX VENTURE:
IVO) is pleased to announce that it has acquired a 75% interest in
two gold properties, the Kings Canyon and Green Springs Projects,
pursuant to an option agreement dated May 9, 2006 with Palladon
Ventures Ltd. ("Palladon") and Genesis Corporation ("Genesis).
Kings Canyon Project, Utah
The Kings Canyon Project is located in the Great Basin region in
west-central Utah and currently encompasses approximately 1,370
acres of unpatented claims and a state minerals lease. Gold
mineralization is a Carlin-style system hosted at shallow depths in
Paleozoic carbonate rocks and may be controlled by steep
mineralized faults.
The Kings Canyon Project is composed of claims that have been
optioned from Kinross Gold Corporation as well as from Palladon and
Genesis. The Genesis/Palladon claims are immediately adjacent to
and enclose on three sides a separate block of claims held by
Kinross Gold Corporation and currently under option to Invenio
whereby Invenio can acquire a 100% interest. Invenio has until
December 2013 to fulfill its obligations under the Kinross option.
The Kinross claims contain an historical non-compliant resource of
approximately 217,000 ounces of gold at an approximate grade of
0.93 grams/tonne gold. The resource is not compliant with NI
43-101, and is historical in nature. Invenio has not verified the
resource calculation and therefore it should not be relied upon.
The gold mineralization is oxidized and found near surface, trends
directly onto the Genesis/Palladon ground but has had little
drilling. In addition, many additional mineralized faults have been
delineated on the property, defining numerous untested targets in
areas where the favourable horizon is at shallow depths.
Green Springs Project, Nevada
Green Springs is situated in central Nevada and covers 240 acres
of unpatented mining claims. These claims encompass the down-dip
projections of Carlin-style gold zones which were mined in the late
1980s by the USX Corp., with historically reported production of
approximately 60,000 ounces of gold at a grade of approximately 1.8
grams/tonne gold. The production is historical in nature and
Invenio has not verified the figures and therefore it should not be
relied upon. Alteration in the area is widespread yet previous
exploration was narrowly focused along one target horizon.
About Invenio Resources Corp.
Invenio Resources Corp. is a Canadian based exploration company.
The Company's common shares are listed on the TSX Venture Exchange
and trade under the symbol IVO. Invenio has three gold properties
under option: Ganes Creek, Alaska; Kings Canyon located on the
border of Nevada and Utah; and Green Springs, Nevada. The Ganes
Creek property was optioned in February 2011 and Invenio has the
right to acquire a 100% interest. Ganes Creek, located in south
central Alaska, is situated in the Tintina Gold Belt which is host
to the 42 million ounce Donlin Creek gold deposit approximately 90
km to the south west and the Nixon Fork copper-gold skarn deposit
approximately 62 km to the northeast. Ganes Creek has the potential
to host both high grade lode style gold mineralization and lower
grade bulk mineable mineralization similar to that found at Donlin
Creek. The technical information in this news release was reviewed
by Jerry Blackwell, P.Geo., Invenio's technical advisor and a
Qualified Person as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF INVENIO RESOURCES
CORP.
Ken Booth, President
"This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements."
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Invenio Resources Corp. Investor Relations
604-687-1779 info@invenioresources.com www.invenioresources.com