Inventus Mining Corporation (TSX-Venture:IVS) ripped loose Thursday morning on markets, on word of new discoveries at its Pardo mine near Sudbury, Ontario.
The Toronto-based Inventus has received assay results for the first 28 holes of the winter drill program at Pardo, In all, seven step-out holes at the 007 Zone have been completed and the company says the program is near completion.
A news release issued Thursday confirmed that gold-bearing conglomerate layers or “reefs” at Pardo are horizontal and typically one to three metres in thickness. Reefs are laterally extensive and occur on or very near surface. Higher gold grades occur concentrated in fluvial channels or “pay streaks”, and valleys in the footwall upon which the conglomerate was deposited.
Some of the deposits were as rich as 13.00 gold per tonne (g/t).Inventus expects to see a similar improvement in the gold grade when bulk sampling the 007 Zone. The Company intends to commence a bulk sampling program of up to 50,000 tonnes next spring.
IVS jumped in price as noon ET approached on Thursday by three cents, or 26.1%, to 14.5 cents, on volume of 56,000.
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