Invenio planning to drill Ganes Creek Gold Project
Monday, Feb 20, 2012
Invenio Resources Corp. ("Invenio" or the "Company") (TSX VENTURE:IVO) is pleased to announce that it is preparing to conduct a diamond drilling program at its Ganes Creek gold project (the "Project") located in Southwest Interior Alaska. Invenio has the right to earn a 100% interest in the Project. The upcoming drill program is planned to test approximately 1.2 kilometres of the 11.5 kilometre long Yankee-Ganes Creek gold trend and will focus on the two zones within the Main Ridge area.
The drill program this summer is planned for approximately 6,000 metres in twenty angled core holes and will test the tenor of extensive surface mineralization at two highly-prospective areas located along the Main Ridge: 1) Pzs Ridge; and 2) Katz. Both areas exhibit various styles of gold mineralization hosted in steeply dipping felsic intrusions and altered sediments. Induced Polarization ("IP") geophysical signatures of these prospect areas indicate continuity along strike for approximately 800 metres at Pzs Ridge and 900 metres at Katz and both areas remain open along strike. Invenio has modeled two dimensional IP data from its 2011 survey beneath Pzs Ridge and Katz and data exhibits positive changes in both resistivity and chargeability that indicate a potential for significant alteration and increased sulfide content.
In 2011 Invenio conducted a 44 kilometre, gridded, modified pole-dipole (n=25m) IP ground geophysical survey at the Project that covered approximately eight square kilometres. The 2011 IP survey was conducted to help constrain the geophysical signatures outlined in a 2008 survey along the Main Ridge and the Lower Bench region where significant historic gold anomalous trench and drill-hole intercepts occur. The survey also extended the geophysical signatures of Pzs Ridge and Katz beneath their covered extensions along strike.
Drilling this summer will use a fence of vertical drill fans that will test: 1) the true width of the mineralized corridor along the Main Ridge; 2) the vertical extent of disseminated and structurally controlled gold mineralization; and 3) observed geophysical anomalies. Information from this year's drilling will also enable Invenio to construct the first true geological cross sections for the areas which will prove invaluable for further understanding the mineralization at Ganes Creek.
The Company has recently submitted a multi-year permit application to the Alaska Department of Natural Resources to allow for the upcoming drilling program. Approval of the permit is expected to be received by mid-March 2012. Drill sites planned at Ganes Creek will be accessed using existing roads which eliminate the need for expensive helicopter supported drilling. All equipment necessary for mobilization of skid-mounted drill-rigs is already on site at the Project.