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IVO

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Share Name Share Symbol Market Type
TSXV:IVO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Invenio planning to drill Ganes Creek Gold Project

16/02/2012 5:28pm

Marketwired Canada


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.


About Ganes Creek

The Project consists of 100 contiguous State of Alaska mining claims and 2,641
acres of patented placer mining claims that collectively cover approximately
16,900 acres of continuous gold anomalies along a number of mineralized
geological trends. Placer mining within the Ganes Creek area has been nearly
continuous since the discovery of rich placer gold deposits along the ancestral
benches to Ganes Creek in 1906. Ganes Creek and its tributary drainages are
renowned for rich gold placers and abundant large cobble-sized quartz + gold
nuggets (up to 122 ounces) mined from active and ancestral streams gravels. More
than a 500,000 ounces of gold has been recovered from placer deposits in the
district, and of this total, it is reported that an estimated 250,000 ounces
were derived directly from Ganes Creek and the immediately adjacent lands.


A number of placer gold mining operations occur near Ganes Creek (e.g. Yankee
Creek, Ophir Creek, Little Creek, and Candle Creek) and the project is
surrounded by lode gold prospects (e.g. Yankee Creek, Moore Creek, Candle
Creek). Limited lode mining has occurred in the region; the most significant
being the Nixon Fork Mine (copper-gold skarn) located 62 km to the northeast.
The most significant deposit in the region is Novagold/Barrick's Donlin Creek
Deposit, located 130 km to the southwest, which is host to a 33.9 million ounce
proven & probable gold reserve and is in the top 1% of gold deposits worldwide.


The 2011 gridded IP survey conducted at Ganes Creek was designed to cover two
main mineralized corridors at Ganes Creek: 1) The Main Ridge, (includes: Pzs
Ridge, Hill 2040, Independence Mine, Breccia Hill, & Katz); and 2) The Lower
Bench Region (includes: South Potosi Bench, Potosi Creek, & Maki Ridge) (To view
figure, visit the following link:
http://media3.marketwire.com/docs/IVO_figure.jpg). Both gold anomalous trends
follow the trace of regional, N55E trending anti-forms hosted in Cretaceous
sediments (e.g. slate, phyllite, sandstone, & greywacke) that exhibit broad,
moderately dipping outer limbs and tightly folded and fault disrupted cores.
Various styles of silicification and associated gold and base metal
mineralization (e.g. intrusion/sediment hosted disseminated sulfides;
structurally controlled quartz-carbonate-gold veins and vein breccias; and
epithermal laminated + cockade textured quartz-sulfide implosion breccias) occur
along the length of the regional folds. In most cases, gold mineralization is
spatially associated with altered Cretaceous bi-modal (e.g. mafic + felsic)
stocks, sills and dikes that have intruded into and have been subsequently
deformed by protracted strain within and along the anti-forms and internal shear
zones.  Gold mineralization spatially associated with the intrusions has been
identified along the Main Ridge from Pzs Ridge to Amy Peak for a strike of about
11.5 kilometers (To view figure, visit the following link:
http://media3.marketwire.com/docs/IVO_figure.jpg).


At Ganes Creek, the significance between protracted intrusive events
superimposed by various overlapping modes of mineralization that collectively
are located within regional scale folds, and in the case of the Main Ridge, part
of a significant crustal structure (e.g. approx. 70 kilometre long Yankee/Ganes
Creek Fault) cannot be overlooked.


Access/Logistics

The Project is one of the most logistically feasible exploration projects within
Interior Alaska. It is accessible by State maintained gravel roads that connect
to a commercial barge landing on the Kuskokwim River (e.g. Sterling Landing).
This road system also abuts Invenio's Candle Hills Gold Property and further
exemplifies the logistic feasibility of Invenio's land holdings in Alaska. Bulk
fuel and heavy equipment required for exploration and mining can be transported
to Sterling Landing by barge from the mouth of the Kuskokwim River at Bethel
during the spring and summer months and then transported along the road system
to Invenio's two gold projects. A well maintained 5000 foot gravel runway exists
at Ganes Creek and is capable of handling C130 Hercules and DC-6 cargo aircraft
which also supports bulk-fuel and freight shipments.


Existing camp facilities owned by Clark-Wiltz Mining (CWM), the operator of the
placer mine, are used by Invenio to conduct its exploration at Ganes and Candle
and consist of: accommodations for exploration crews of more than 12; fully
stocked and maintained mechanic's shop; bulk fuel storage; heavy equipment
required for road building and diamond drill support; and four-wheel drive
trucks and all-terrain vehicles needed for ground transportation.


Topography at Ganes Creek is typified by moderate relief of 400 metres with
elevations ranging from 210 metres in the Ganes Creek valley to 625 metres along
the ridges making access to the planned drill sites on the existing roads
relatively easy.


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 an interest in four gold properties,
Ganes Creek, and Candle Hills in Alaska, Kings Canyon located on the border of
Nevada and Utah and Green Springs located in Nevada. In February 2011 Invenio
signed an option on Ganes Creek with the right to acquire a 100% interest and in
July 2011 it announced it had signed an option on Candles Hills with the right
to acquire a 100% interest. Ganes Creek has the potential to host both high
grade lode style gold mineralization and lower grade bulk mineable
mineralization similar to that found at the 33.9 million ounce Donlin Creek gold
deposit and at Candle Hills gold mineralization is potentially plutonic hosted
stockwork and fault-filled vein style. The Kings Canyon project contains an
historical, non 43-101 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 historically reported head grades of 2 g/t gold.


The technical information contained in this press release has been reviewed by
Mr. William Burnet, M.Sc., CPG, of Yukuskokon Professional Services, LLC. Mr.
Burnett is a qualified person for the purpose of National Instrument 43-101.


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 contains 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.


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