Invenio Begins Exploration on Candle Hills Gold Property
August 08 2011 - 8:00AM
Marketwired
Invenio Resources Corp. (TSX VENTURE: IVO) ("Invenio" or the
"Company") is pleased to announce commencement of a detailed
surface exploration program on the Candle Hills Property, Alaska.
Candle consists of 61 claims totaling 9,760 acres and is located 15
kilometres southwest of the village of McGrath and 55 kilometres by
road to Invenio's Ganes Creek Gold Project.
The summer work program will consist of geological mapping, rock
sampling and a soil sample grid intended to further define gold
mineralization previously identified as part of an Alaskan State
funded reconnaissance geological mapping program from
1977-1982.
Candle Hills geology is composed of a multi-phase, reduced,
alkaline-to-intermediate Late-Cretaceous to Early Tertiary igneous
complex that intruded into deformed Cretaceous sediments. This
complex is a part of the Kuskokuim Mineral belt, a major
metallogenic province containing abundant precious metal-enriched,
polymetallic mineral deposits hosted in various igneous
complexes.
Gold exploration performed on ground adjacent to Candle Hills
during the 1990's reportedly discovered a gold-mercury bearing soil
anomaly located at the immediate headwater region to Candle Creek.
This anomaly is located structurally below and approximately 500
metres to the north of Invenio's property. The anomaly hosts
Au-Sb-As-Hg bearing quartz veinlets within ankerite-altered
plutonic rocks near a sheared/faulted contact.
The Candle Hills igneous complex shares similarities with other
mineralized complexes of the Kuskokuim Mineral belt (e.g. Vinesale
Mtn., Chicken Mtn., Golden Horn, Von Frank Mtn, Nixon Fork,
Wattamuse-Ikuk). The Candle Hills complex is thought to host
superimposed polymetallic vein and porphyry copper-gold stockwork
mineralization that collectively has a distinctive Cu-Au-Ag-As-Hg
geochemical signature.
The head waters of Candle Creek begins at the northern boundary
of the Property and flows northeast through a broad valley that
drains the Candle Hills igneous complex. Placer gold deposits along
the upper three kilometres of Candle Creek were mined by hand,
mechanized open-cut, and bucket-line dredge operations through the
1930's but stopped at the steep slopes just below the Property.
Historical reports of this mining activity indicate placer
production of approximately 138,000 ounces of gold and 12,000
ounces of silver. During the 1990's limited placer mining in Candle
Creek recovered gold that was commonly associated with cinnabar
thus further indicating a good correlation between mercury and gold
in the area.
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.
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."
"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."
Contacts: Invenio Resources Corp. Investor Relations
604-687-1779 info@invenioresources.com www.invenioresources.com
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