Press release from Marketwire
Invenio to Target Two Styles of Gold Mineralization at Ganes Creek in 2011
Wednesday, June 01, 2011
Invenio to Target Two Styles of Gold Mineralization at Ganes Creek in 201109:00 EDT Wednesday, June 01, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2011) - Invenio Resources Corp. (TSX VENTURE:IVO) ("Invenio" or the "Company") is pleased to announce that preparations are well underway for the upcoming field season at its Ganes Creek Gold Project in Alaska. The 2011 field season will 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. The Pzs Ridge prospect at Ganes Creek hosts some of the strongest Type-1 mineralization for the entire property. Extensive trenching and continuous chip sampling along Pzs Ridge, which was drilled previously by Placer Dome in 1996-1997, has defined broad zones of lower-grade gold mineralization. Continuous 100-300 ppb gold mineralization occurs throughout the entire trench system of approximately 650 meters and covers an area approximately 220m X 175m. Higher grade zones of Type-1 gold mineralization sampled from altered intrusives that cross cut low-grade deformed sediments are viable drill targets that were not tested by Placer Dome (20 metres at 365-900 ppb gold, 65metres at 330-700 ppb gold, and 4 metres at 1.7g/t gold). The higher-grade gold mineralization is spatially associated with NE striking, moderately SE dipping rhyolitic sills that have intruded into the SE limb of a large, regional antiform composed of Cretaceous slate and greywacke. Existing, vertical reverse circulation drill data confirms that higher-grade mineralization in the intrusives is continuous to depths of approximately 30-40 metres but additional intercepts occur at depths of approximately 100 metres. The higher-grade mineralization at Pzs Ridge likely dips to the SE and follows the down-dip extensions of the altered rhyolitic intrusives. The SE extensions to this mineralization has not been trench or drill tested. This area is the most extensive continuous zone of gold mineralization recognized on the property to date. The rhyolitic sills strike to the SW along the Main Ridge for ~5km and host similar mineralization at Breccia Hill, Katz, and along Spaulding Ridge.The Independence Mine, area at Ganes Creek typifies Type 2 mineralization. Here sill swarms host a vein system that was subject to small scale hand mining which had historically reported grades of approximately one ounce per ton gold. Invenio's current manager of exploration worked at Ganes during a 2008 program, during which grab samples taken from an outcropping quartz vein returned high grade fire-assay gold values including 592 g/t gold, 1290 g/t gold, 1470 g/t gold, 1560 g/t gold, and 2140 g/t gold. A new intrusive sill swarm and high-grade vein system was discovered by trenching along South Potosi Ridge within the Lower Bench Region. Two chip samples from stockwork veins hosted within altered intrusives and shear-veins hosted in late-east-west, clay altered shear zones produced assays of 13.95 g/t gold and 14.15 g/t gold. The assays are the highest grade vein samples taken from the Lower Bench Region to date. The abundance of veins in exploration trenches indicates an extensive hydrothermal system was associated with the prospect. The sill swarm is thought to be the source of rich placer gold deposits that were mined at the confluence of Ganes and Potosi Creeks. The sill swarm is open along strike, requires further exploration trenches and has not been drill tested. In particular, the NE extension of this sill swarm is buried beneath Maki Ridge and may be below anomalous flysch sampled in exploration trenches (4 metres at 3 g/t gold and 4 metres at 1.7 g/t gold). The Pzs Ridge, the Independence and the South Potosi Bench areas will be explored further this summer by Invenio. A comprehensive map outlining target areas can be viewed on the company's website at: www.invenioresources.com/projects/ganes-creek-project.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 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.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."FOR FURTHER INFORMATION PLEASE CONTACT: Investor RelationsInvenio Resources Corp.email@example.com"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."