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Shareholding - Inventus Mining Corp

Inventus Mining Corp ("Inventus") and Endurance Gold Corporation ("Endurance" or "the Company") were formerly participating Joint Venture partners on the Pardo Joint Venture ("Pardo JV") consisting of a 33 square kilometre 16-claim property, located 65 kilometres northeast of Sudbury, in east-central Ontario. Inventus was the operator of the Pardo JV with a 64.5% interest, and Endurance owned the remaining 35.5% participating interest.

On November 30, 2016 Endurance agreed to sell its 35.5% interest in the Pardo JV for 25,500,000 shares of Inventus and $75,000 in cash resulting in Endurance becoming a controlling shareholder of Inventus. Endurance's current share ownership equates to 20.8% of Inventus. Thus Endurance has exchanged its ownership interest in the Pardo JV for a large shareholding interest in Inventus. Inventus now controls, on a 100% basis, 170 square kilometers of mineral claims with similar geology.

Endurance retains the right to appoint a Director to the Board of Inventus for as long as its shareholding exceeds 10%.

The road accessible property covers a sequence of Precambrian-aged rocks which include the Matinenda and Mississagi Formations, basal conglomerate units of the Huronian Supergroup sedimentary assemblage that forms the 15,000 square kilometre Cobalt Embayment comparable in size to the similar age South African Witwatersrand basin. Gold mineralization defined to-date on the Pardo Property is spatially associated with pyritic and quartz pebble bearing portions of both the Matinenda and Mississagi Formation conglomerates. The widespread occurrence of gold mineralization associated with these conglomerates and the potential size of the target warrants further exploration.

A program of grid drilling and a bulk sampling was completed in 2017 and another bulk sampling program is planned for 2019, which will follow up on 2018 grid drilling completed at the 007 prospect.

Endurance shareholders can follow exploration activities on the Pardo Property by visiting the website for Inventus Mining Corp.

Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the compilation of the information forming the basis for this summary.


Related News Releases


November 30, 2016: Endurance Finalizes Agreement To Sell Its Interest In The Pardo Joint Venture  (more...)

November 09, 2016: Endurance Announces Agreement to Sell its Interest in the Pardo Joint Venture  (more...)

September 28, 2016: Endurance Announces Approval Of A Revised 2016 Pardo JV Program  (more...)

August 11, 2016: Endurance Announces Trench 1 Area Channel Sample Results - Pardo Jv, Ontario  (more...)

June 01, 2015: Endurance Announces 007 Zone Drilling Update - Pardo JV, Ontario  (more...)

May 08, 2015: Endurance Announces Godzilla Drilling Update - Pardo JV, Ontario  (more...)

March 10, 2015: Endurance Announces Start Of Drilling - Pardo JV, Ontario  (more...)

January 15, 2015: Endurance Announces Winter Drill Program - Pardo JV, Ontario  (more...)

November 20, 2014: Endurance Provides Update From The Pardo Joint Venture, Ontario  (more...)

October 20, 2014: Endurance Provides Further Update From The Godzilla Zone, Pardo Joint Venture, Ontario  (more...)

September 29, 2014: Endurance Reports 25 Metres Of 3.4 Grams Per Tonne Gold From The Godzilla Zone, Pardo Joint Venture, Ontario  (more...)

September 02, 2014: Endurance Reports 140 Metres Of 5.2 Grams Per Tonne Gold From The Godzilla Zone, Pardo Joint Venture, Ontario  (more...)

August 21, 2014: Endurance Reports 29 Metres Of 10.4 Grams Per Tonne Gold From The Godzilla Zone, Pardo Joint Venture, Ontario  (more...)

August 13, 2014: Endurance Provides Update At Pardo Joint Venture, Ontario  (more...)

July 28, 2014: Endurance Announces New High-Grade Gold Zone at Pardo Joint Venture, Ontario  (more...)

July 21, 2014: Exploration Update - Pardo Gold Joint Venture, Ontario  (more...)

June 30, 2014: Endurance Settles Arbitration Dispute  (more...)

June 23, 2014: Further Encouraging Results And New Discoveries, Pardo Gold Joint Venture, Ontario  (more...)

June 02, 2014: Endurance Elects to Participate in 2014 Pardo Joint Venture Program And Announces Annual General Meeting Results  (more...)

May 05, 2014: Endurance and Ginguro Announce 2014 Pardo Exploration Program  (more...)

December 19, 2013: Pardo JV Operator Provides Clarifying Disclosure on Eastern Reef and 007 Zone  (more...)

December 03, 2013: Endurance Serves Defense and Counterclaim - Arbitrator Appointed  (more...)

October 28, 2013: Endurance Responds To Arbitration Notice Respecting The Pardo Joint Venture Dispute  (more...)

September 24, 2013: Final Gold Assays At 007 And Eastern Reef Zones Pardo Gold Joint Venture, Ontario  (more...)

September 06, 2013: Further Results At Eastern Reef Zone Discovery, Pardo Gold Joint Venture, Ontario  (more...)

August 29, 2013: Further High Grade Gold at 007 Zone Discovery, Pardo Gold Joint Venture, Ontario  (more...)

August 15, 2013: New High Grade Gold Discoveries On Pardo Gold Joint Venture, Ontario  (more...)

November 29, 2012: Drilling Completed on Pardo Gold Joint Venture, Ontario  (more...)

September 11, 2012: Drilling Commences on Pardo Gold Joint Venture, Ontario  (more...)

March 29, 2012: Endurance Enters Into Joint Venture On Pardo Gold, Ontario  (more...)

November 24, 2010: 137 Drill Holes Completed in 2010 at the Pardo Option  (more...)

October 04, 2010: 129 Drill Holes Completed In 2010 At The Pardo Option  (more...)

September 08, 2010: Eighty Five Drill Holes Completed at the Pardo Option - 700 By 500 Meter Gold-Enriched "Reef" Defined  (more...)

July 21, 2010: Metallurgical Testing Reported At Pardo Gold Property Eighty Drill Holes Planned  (more...)

June 29, 2010: 2010 Drilling Commenced At Pardo Gold Property  (more...)

April 19, 2010: Ginguro Reports Preliminary Metallurgical Testwork Results On Endurance Pardo Gold Property  (more...)

January 12, 2010: Ginguro Reports High Grade Grab Sample Results On Endurance Pardo Gold Property  (more...)

August 18, 2009: Ginguro Exploration Inc. Commences Work On Endurance Pardo Property  (more...)

July 02, 2009: Endurance Options Pardo Property To Mount Logan Resources Ltd.  (more...)

August 11, 2008: Endurance Drills 1.58 GPT Gold over 7.6 Metres at Pardo  (more...)

May 12, 2008: Endurance To Commence Drilling On Pardo In June  (more...)

February 20, 2008: Pardo Cyanide Leach and Screen Fire Metallic Analytical Results Provide Continued Encouragement  (more...)

January 03, 2008: Surface Sampling Defines Multiple New Targets At Pardo  (more...)

December 05, 2007: Induced Polarization Survey Expanded at Pardo  (more...)

November 05, 2007: Endurance Commences Aerial Survey Of Pardo Property; Provides Turner Update  (more...)

October 01, 2007: Endurance Announces Assay Results From Pardo Diamond Drilling Program  (more...)

August 17, 2007: Endurance Completes 56 Holes at Pardo  (more...)

July 12, 2007: Endurance Moves Drill To Pardo For 80 Hole Program  (more...)

May 23, 2007: Endurance Stakes Additional Claims Near Pardo And Turner Properties  (more...)

May 16, 2007: Induced Polarization Results Define Strong Anomalies On Pardo; Mapping Crew Mobilized To Property  (more...)

April 17, 2007: Induced Polarization Crew Mobilizes To Pardo Property  (more...)

November 22, 2006: Surface Channel Sampling at Pardo Confirms Presence of Significant Gold Mineralization, with Results to 18.35 GPT Gold Over 1 Metre, 3.05 GPT Gold Over 13 Metres  (more...)

September 22, 2006: Endurance Stakes Additional Ground at Pardo, Surface Trenching and Channel Sampling to Resume  (more...)

September 11, 2006: Surface Channel Sampling at Pardo Returns 3.52 Gpt Gold Over 13 Metres  (more...)

November 24, 2005: TSX VENTURE EXCHANGE ACCEPTS PARDO PROPERTY OPTION  (more...)

September 20, 2005: ENDURANCE ACQUIRES PROTEROZOIC UNCONFORMITY/SEDIMENT HOSTED GOLD PROSPECT IN THE SUDBURY MINING DISTRICT, ONTARIO  (more...)

Godzilla Zone Pyritic Conglomerate (2014)

Godzilla Zone Conglomerate (2014)

Gold in Polished Microscope Slide Hole PD-07-31


Mineralized Basal Conglomerate - Gold Assay via Total Cyanide Leach of 12.88 gpt - Note abundant free gold on edges of pyrite grains.

Mineralized Drill Core Hole PD-07-31


Mineralized Basal Conglomerate - Gold Assay via Total Cyanide Leach of 2.01 gpt / 8.4 metres.

DRILL CORE

Pyrite Pebbles

DRILL CORE

Fine Grained Pyrite between Conglomerate Pebbles

007 Zone Pyritic Conglomerate - Visible Gold Circled in Red

007 Zone Pyrite Pebbles & Visible Gold

007 Zone Pyritic Conglomerate

007 Zone Channel Sample Assayed 92.8 gpt Gold



Paleoplacer Gold Deposits in South Africa - ORE DEPOSITS 101: Witwatersrand Gold Deposits

 

 


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This page was created on Mon Nov 18, 2019 at 4:06:48 AM Pacific Time.