Invenio Resources Corp.: Summer Exploration Delineates Priority Drill Targets
August 16 2011 - 9:00AM
Marketwired
Invenio Resources Corp. (TSX VENTURE: IVO) ("Invenio" or the
"Company") is pleased to advise that ground geophysical surveying
is proceeding rapidly at its Ganes Creek gold project, located in
southwest interior Alaska. Approximately 25 kilometres of a planned
50 kilometre Induced Polarization survey ("IP") has been completed
with data being processed, compiled and checked in the field. The
results from the survey will be used to target mineralization in
the up-coming diamond drilling program, planned to start in
September.
Invenio's 2011 IP survey extends and connects older IP grids
that were surveyed in 2008 by previous operators. The 2008
geophysical data covers both disseminated gold mineralization
("Type-1") along the Main Ridge Area, which is similar to the 42
million ounce Donlin Creek gold deposit 90 kilometres to the
southwest and high grade quartz-gold mineralization ("Type-2")
along the Lower Bench Region (Map 1).
Main Ridge Area - Disseminated Gold Targets (Type-1)
Geophysical grids completed in 2008, covering the Pzs Ridge,
Breccia Hill, and Katz gold prospects, delineated large, resistive
rhyolitic intrusions hosting Type-1 gold mineralization. Three and
possibly four sub-parallel, 40-50 metre wide 065 degrees
north-striking felsic sills define an intrusive swarm approximately
200 metres wide that extends the length of the Main Ridge for about
5,000 metres. Invenio's 2011 IP grids are extending the 2008 survey
areas to the southeast, thus covering the potential down dip
extensions of the mineralized intrusive system while at the same
time connecting all the historical grids along the length of the
entire target area (Map 1, 2, 3). This work will allow the Company
to put together a thorough, overall picture at Ganes Creek, as it
now appears the gold-bearing system in the Main Ridge area is
larger than previously thought.
Trenching totaling 32 kilometres and continuous chip sampling of
the trenches done in 2008 sampled Type-1 gold mineralization over
broad areas spatially associated with the altered, southeast
dipping felsic intrusives. The altered felsic rocks and adjacent
slate bedrock at Pzs Ridge contain anomalous gold mineralization
within the entire trench system of 650 metres that covers an area
of approximately 32,000m2 (Map 3). Higher grade zones of
disseminated gold within the felsic intrusions at Pzs Ridge have
not been adequately tested by drilling and are priority targets (20
metres at 0.37 to 0.90 grams/tonne gold, 65 metres at 0.33 to 0.70
grams/tonne gold, and four metres at 1.7 grams/tonne gold. A
program of Reverse Circulation ("RC") drilling done in 1996 within
the Pzs Ridge area confirmed that surface mineralization (e.g. 0.3
g/ - 2 g/t gold) is continuous to depths of 30-40 metres, but these
vertical holes pierced only the shallow top edges of the
mineralized felsic sills as the moderate southeast dip of the
intrusive system was not realized at the time (Map 3). The
extensions to this mineralization down dip towards the southeast
and along strike to the southwest is an important target in
Invenio's anticipated drill program in the fall. The Pzs Ridge area
is the most extensive continuous zone of disseminated gold
mineralization recognized on the property to date.
Lower Bench Region - High Grade Gold Targets (Type-2)
Geophysical grids along the Lower Bench Region (e.g. Maki Ridge,
South Potosi Ridge, Beaumeister) surveyed during 2008 with IP
detected a zone of chargeable, resisitive altered intrusive swarms
that host Type-2 high-grade gold mineralization which is likely the
source of the extensive placer gold deposits found along Ganes
Creek. Invenio's geophysical grids will target a 150 metre wide,
altered mafic sill/dike swarm that is located near placer deposits
along Potosi Creek (300 m away) and the confluence of Potosi Creek
and Ganes Creek (1000 m away), which yielded some of the richest
placer deposits at Ganes Creek.
Trenches along South Potosi Ridge have exposed fourteen (14)
individual, northeast striking, steeply dipping deformed altered
intrusive sills that are cut by north-northeast-trending faults and
east-trending shear zones. Abundant north- striking, subvertical
multi-stage quartz veins occur as sheeted swarms and stock works
along the margins of the intrusive sills, occurring in both
extension fractures, and cross-cutting shears.
Samples from the South Potosi Ridge trenches produced two 14g/t
gold assays from quartz veins hosted in the altered intrusive sills
and post-intrusive shear zones. The high-grade samples are
separated by 90 metres along strike and occur within a 165 metre
zone of numerous lower-grade samples (1-3g/t gold). The South
Potosi Ridge prospect is important because of: 1) the abundance and
density of mafic sills/dikes, 2) numerous anomalous gold samples
from intrusions, flysch, structures and veins, and 3) the tenor of
quartz veining exposed for over 200 metres along strike.
Additionally the veins within the South Potosi Prospect are similar
in appearance and textures to large gold + quartz cobbles mined
from the placer deposits along Potosi Creek approximately 300
metres away to the northeast. It is thought that the South Potosi
Prospect is the source for much of the placer gold within Potosi
Creek, the source of which is beneath overburden on Maki Ridge.
The above listed maps can be viewed on the company's website at:
http://www.invenioresources.com/projects/ganes-creek-project/
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 four gold properties, Ganes Creek, Alaska, Candle Hills,
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 an option on Ganes Creek and an option on
Candle Hills to acquire a 100% interest. Ganes Creek has the
potential to host both high grade lode style gold mineralization
and disseminated 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.
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.
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