Pardo Gold Project, Ontario, Canada
AN ADVANCED PALEOPLACER GOLD PROJECT IN NORTH AMERICA
The 2022 Bulk Sample Program at the 007 Zone
Aerial photo of the 007 Bulk Sampling Operation.
Exploration Target
Exploration at the Pardo project is targeting a near surface gold-bearing conglomerate reef . The conglomerate “reef” is extensive, flat lying and ranges from 1 to 4 metres thick. The conglomerate, if economically feasible, would be subject to low-cost surface strip mining methods.
A 2018 Technical report on Pardo outlined three exploration target ranges for the gold-bearing conglomerate based on the limited exploration work conducted so far. The scenarios were generated in terms of pessimistic (P10), moderate (P50) and optimistic (P90). see table below.
*The potential tonnages and grades are conceptual in nature and are based on surface mapping, drilling and channel sampling results that define the approximate thickness, extent and grade of the mineralized conglomerate unit. Currently there has been insufficient exploration to define a mineral resource.
Modelled extent of conglomerate reef with grade shells
Modelled extent of conglomerate reef
Bulk Sampling
Inventus conducted the first phase (5,000 tonnes) of a 50,000 tonne advanced exploration bulk sampling program at Pardo. The bulk sample program has built confidence of the gold grade and paved the way for a maiden resource estimate on the property.
In late 2017, Inventus conducted its first bulk sample from the Trench 1 occurrence. The 1,000 tonne bulk sample was calculated to contain 133.8 ounces of gold, equivalent to a head grade of 4.2 g/t gold. Diamond drilling prior to extraction of the bulk sample returned a predicted block model grade of 1.55 g/t gold.
Exploration Highlights
007 Zone
36.5 g/t gold over 31 m (channel sample)
7.9 g/t gold over 2.25 m; Including 21.2 g/t gold over 0.78 m (drill hole)
13.4 g/t gold over 1.93 m; Including 62 g/t gold over 0.3 m (drill hole)
9.5 g/t gold over 2.0 m; Including 29.2 g/t gold over 0.6 m (drill hole)
HGZ Zone
11.5 g/t gold over 3.2 m (drill hole)Including 58.2 g/t gold over 0.6 m (drill hole)
9.8 g/t gold over 3.5 m; Including 47.1 g/t gold over 0.7 m (drill hole)
4.7 g/t gold over 2.18 m; Including 15.5 g/t gold over 0.63 m (drill hole)
Trench 1
4.2 g/t gold in 1,000 tonne bulk sample
4.1 g/t gold over 2.17 m; including 15 g/t gold over 0.55 m (drill hole)
6.4 g/t gold over 2 m; including 20.2 g/t gold over 0.5 m (channel sample)
Trench 2
10.2 g/t gold over 5.5 m; including 47.9 g/t gold over 1.0 m (channel sample)
11.8 g/t gold over 2.0 m; including 22.6 g/t gold over 1.0 m (channel sample)
9.4 g/t gold over 2.5 m; including 0.5 m of 26.4 g/t gold over 0.5 m (channel sample
Eastern Reef
4.2 g/t gold over 92.5 m (channel sample)
Godzilla Zone
5.2 g/t gold over 140 m (channel Sample)
Pardo Project - NI 43-101 Technical Report 2018
3D Pardo Model in Leapfrog®
Geostatistical Review and Drillhole Spacing Analysis
Location and Access
The Pardo Paleoplacer Gold Project is located in Ontario, Canada, 65 km north east of the world class mining district of Sudbury. The property has excellent year round access by road, which is less then 1.5 hours from Sudbury.
Property Ownership
The Pardo Project consists of a 3.8 sq. km block of mineral leases and 180 sq. km's of mineral claims covering the target paleoplacer geology.
Geology
The Pardo Project is a conglomerate-hosted gold system within rocks of the Huronian Supergroup, a 2.4 billion year old sedimentary basin. Ancient Precambrian Sedimentary basins such as the Huronian are known to contain large paleoplacer gold deposits. One such setting is the famous Witwatersrand basin in South Africa, which is the largest gold provenance in the world, having produced over 1,500 million ounces of gold.
Huronian Basin, Ontario (left) Compared to the Witwatersrand Basin, South Africa (Right)
Inventus has identified gold bearing conglomerate reefs within two separate formations. The conglomerate reefs are extensive, flat lying layers ranging from 1 to 4 metres thick. In some areas these reefs are stacked and separated by interbedded sandstone. The basal Matinenda Formation is composed of pyritic quartz pebble conglomerate and underlies the Mississagi Formation, a polymictic cobble to boulder conglomerate. The two formations contain anomalous gold values over the entire property that spans 13 km north-south and 3 to 5 km east-west.
Gold-bearing Mississagi Fm. conglomerate from the Godzilla Zone.
Gold-bearing Mississagi Fm. conglomerate from the Godzilla Zone.
Academic Research on the Pardo Paleoplacer
Pardo Research Paper
“The discovery of basal and intraformational conglomerate-hosted gold mineralization in the Huronian Supergroup’s Mississagi Formation near Sudbury, Ontario, has indicated potential for Witwatersrand-type gold mineralization”