Invenio Resources Corp.: Exploration Program Begins at Ganes Creek Gold Project, Alaska
June 21 2011 - 9:00AM
Marketwired
Invenio Resources Corp. ("Invenio" or the "Company") is pleased to
announce that the Company's summer exploration program has begun at
the Ganes Creek Gold Project in Alaska. Yukuskokon Professional
Services Inc. of Wasilla, Alaska has been retained to provide
geological services under the supervision of Jesse Grady, MSc.,
Invenio's exploration manager at Ganes.
Initial work will be focused on an Induced Polarization ("IP")
geophysical survey targeting favourable geology over four
kilometres from Pzs zone to the Katz zone. The IP survey will tie
together previous IP grids that targeted these specific zones and
will also extend these grids to cover areas that were mapped by
previous operators. Aurora Geosciences has been retained to conduct
the IP survey.
Upon completion of Aurora's work, Invenio will integrate the new
geophysical data with an extensive geological, geochemical and
geophysical database in order to identify diamond drill targets for
a program later this summer. The 2011 field season is intended to
follow up on extensive work completed by a previous explorer in
2007-2008 that included a total of approximately 32 kilometres of
trenching, geological mapping and 4,400 continuous chip samples
collected in the trenches, 424 select rock samples and
approximately 83 line kilometres of grid geophysics.
Two primary styles of intrusive-hosted or intrusive-related lode
gold mineralization have been recognized at Ganes Creek. They are
referred to as:
Type-1: lower grade bulk mineable gold mineralization that is
composed of quartz-arsenopyrite veinlets and micron-to-millimeter
scale disseminations hosted in porphyritic rhyolite sills/dikes.
This style of mineralization is similar to the 42 million ounce
Donlin Creek gold deposit located to the southwest of Ganes Creek
along the Nixon Fork - Iditarod fault; and
Type-2: Quartz-native gold veins, locally with visible gold,
found within post-intrusive structures that cut altered and
deformed bi-modal sill/dike swarms. This style of mineralization is
the source for the rich placer gold deposits that have been mined
from Ganes Creek and its tributary drainages for over 100 years.
The relationship between Type 2 mineralization and placer gold has
been confirmed by a large dataset that includes: 1) observations of
placer deposits, distribution and placer gold character, 2)
Geochemical, textural and electron microprobe analyses on placer
gold grains, from quartz + gold nuggets, and from in-situ
quartz-gold veins, and 3) placer nuggets found by metal detectors
that are eroded fragments of quartz-carbonate-gold veins with
identifiable wall rock attached that are diagnostic to the
intrusive-alteration-mineralization system at Ganes Creek.
Ganes Creek is located in west-central Alaska, approximately 440
km northwest of Anchorage and 40 km west of the town of McGrath.
The Project 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.
The Ganes Creek project consists of 109 state mining claims
covering approximately 6,200 hectares (15,400 acres). The Project
is in the historic Ophir Mining District and lies along the
prospective Yankee Creek/Ganes Creek (Y/G) fault zone, a 19 km
geological feature which hosts numerous gold anomalies and
prospects as well as several active placer gold operations. The Y/G
fault zone parallels the Iditarod-Nixon Fork fault, a major
northeast trending structure, along which the Donlin Creek and
Nixon Fork deposits occur. Mineralization at Ganes Creek consists
of intrusive related gold showings and high grade gold in shears
and veins along or in close proximity to the Y/G fault zone.
About Invenio Resources Corp.
Invenio Resources Corp is a Canadian based exploration company
focused on gold exploration. The Company's common shares are listed
on the TSX Venture Exchange and trade under the symbol IVO. Invenio
has three gold properties, Ganes Creek, Alaska, Kings Canyon
located on the border of Nevada and Utah and Green Springs located
in Nevada. Invenio owns 75% of Kings Canyon and Green Springs and
in February 2011 it signed an option on Ganes Creek with the right
to acquire a 100% interest. 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 the 42 million
ounce Donlin Creek gold deposit. The Kings Canyon project contains
an historical, non-compliant resource of approximately 217,000
ounces of gold at a grade of 0.93 grams/tonne. The deposit is near
surface, oxidized and interpreted to be Carlin style. The Green
Springs project is a former past producer with reported head grades
of 2 g/t gold.
For additional information please visit the Company's website at
www.invenioresources.com.
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