Press release from Marketwire
Invenio Resources Corp.: Summer Exploration Delineates Priority Drill Targets
Tuesday, August 16, 2011
Invenio Resources Corp.: Summer Exploration Delineates Priority Drill Targets09:00 EDT Tuesday, August 16, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2011) - 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°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."FOR FURTHER INFORMATION PLEASE CONTACT: Investor RelationsInvenio Resources Corp.email@example.comNeither 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.