TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce that it has signed a milling agreement with McEwen Mining for the processing of bulk sample material from its 100%-owned Pardo Gold Project, located 65 km northeast of Sudbury, Ontario.
Highlights
- Milling agreement signed with McEwen Mining
- Bulk Sample extraction from 007 North site progressing on schedule with milling expected in late July
- Grade-control drilling resumes to define the remaining 30,000-tonne of 45,000- tonne bulk sampling program
Milling Agreement
Under the newly signed milling agreement with McEwen Mining, Inventus will process bulk sample material from the Pardo Gold Project at McEwen’s Stock Mill. Under the agreement the Company can process up to 5,000 tonnes per month, for a total of up to 45,000 tonnes. A 1,000-tonne bulk sample from Pardo was processed at the Stock Mill in 2017 (see news Jan 3, 2018), yielding an average grade of 4.2 gpt gold with an 89% recovery rate. However, based on the Company’s previous metallurgical testing, recoveries could be up to 95% under optimized conditions.
Bulk Sample Update
Bulk sample extraction at 007 North, targeting 5,000 tonnes, is progressing well with the waste removed and the gold mineralization being blasted and mucked in preparation for crushing and trucking to McEwen’s Stock Mill (Figure 1 - 3). Bulk Sample processing of 007 North material is expected to commence in late July with a series of planned bulk samples ongoing into the first half of 2026. The 007 North Bulk Sample is targeting flat-lying gold mineralization within 6 metres of surface that was previously reported to have an average grade and thickness from grade-control drilling of 3.84 gpt gold over 1.82 metres (see news June 4, 2025).
Drilling Update
Grade-control drilling resumed on June 25th to define the remaining 30,000 tonnes of the planned 45,000-tonne bulk sample program, building on the success of the initial phase that defined the first 15,000 tonnes. The drill will also be conducting Phase 2 resource drilling as part of the Company’s larger plan to define additional gold mineralization in preparation for a maiden resource estimate on the property. Additional updates on drilling progress and results will be provided as the program advances.
Wesley Whymark, President and Head of Exploration comments: “Signing a milling agreement with McEwen Mining is a major milestone for the company. Our Bulk Sample extraction is progressing well with ore being blasted in preparation for the crushing and trucking to McEwen’s Stock Mill for an intended late July processing run. This program is the start of something transformative for the Company. The data and gold revenue generated from this program will build value for shareholders by demonstrating the economics of near-surface flat-lying gold mineralization at Pardo.”
For further information visit www.inventusmining.com, or contact:
Mr. Wesley Whymark
President and Head of Exploration
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
Social Media Accounts
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 203 million common shares outstanding.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Inventus’ President and Head of Exploration, Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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.
Figure 1. Drone photo illustrating the location of the 007 pit (5,000 tonnes) taken in 2021 that returned 3.4 gpt gold and the 007 North pit (5,000 tonnes) in the background currently being extracted.
Figure 2. Photo of vertical blast hole drilling of waste on the 007 North Pit.
Figure 3. Photo of waste material from the 007 North pit after the blast that is removed prior to drilling and blasting of the targeted gold layer below.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c907fff0-c7ce-4ae7-be75-e00b64f8cda7
https://www.globenewswire.com/NewsRoom/AttachmentNg/f2045765-e975-4525-93af-106ac6a4e39d
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