INV Metals Announces Drill Results at Okohongo Deposit, Namibia
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 09/26/11 -- INV Metals Inc. ("INV Metals" or the "Company") (TSX: INV) announces the results of the 2011 drill program at the Okohongo copper-silver deposit ("Okohongo"), located within the Kaoko property in northwest Namibia.
Mr. Robert Bell, CEO, stated, "The 2011 drill program at Okohongo has identified a satellite lens to the north of the main deposit. With the new discoveries at the Omatapati and Okozonduno targets, INV Metals continues to build upon its stated objective of discovering multiple copper-silver deposits. We have demonstrated the extensive Kaoko property remains prospective and maintain our belief that the area has the potential to host multiple deposits which may ultimately culminate in a central processing facility."
The 2011 drill program at the Okohongo deposit totalled approximately 5,667 m of reverse circulation and 972 m of diamond drilling to test various geophysical anomalies, mineralization to the north of the main Okohongo deposit and to further test the deposit down dip. INV Metals believes the 2011 drill program at Okohongo modestly expanded the current inferred resource of 10.2 million tonnes grading 1.12% copper and 17.75 g/t silver, at a 0.3% copper cut-off grade and will further assess the impact on the resource. The mineralized results of the drill program are reported below and are interpreted to be roughly equivalent to true widths.
The area to the north of the main deposit returned significant copper mineralization of 27 m grading 0.85% copper and 28.5 g/t silver, including 14 m grading 1.48% copper and 51.1 g/t silver. The results of the holes surrounding the area to the north of the deposit are listed below.
The following reverse circulation and diamond drill program was performed within the main deposit to undercut the known mineralization.
INV Metals entered into agreements with a subsidiary of Teck Resources Limited which provide INV Metals the right to acquire an initial 50% interest in the extensive Kaoko property, located in northwest Namibia (see INV Metals' press release dated August 4, 2009).
Mr. Michael Stuart, a Professional Member of the Institute of Materials, Minerals and Mining and an employee of INV Metals, is INV Metals' designated Qualified Person as defined in NI 43-101 of the Canadian Securities Administrators and is responsible for the scientific and technical information contained in this press release.
About INV™ Metals
INV™ Metals is an international mineral resource company focused on the acquisition, exploration and development of base and precious metal projects in Brazil, Namibia and Canada. Currently, INV™ Metals' primary assets are: (1) its option to acquire an initial 50% of the Rio Novo property, located in Brazil, (2) its option to acquire an initial 50% of the Kaoko property, located in Namibia, (3) its 100% owned Itapora gold properties, located in Brazil and (4) its option to acquire 50% of the Thorne Lake gold property, located in northwestern Ontario. Please also refer to the INV™ Metals' website at to view additional details relating to the properties.
INV Metals filed Technical Reports with the relevant securities regulators entitled "Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia" dated August 3, 2011 and "Technical Report on the Kaoko Copper-Silver Property in Northwest Namibia" dated June 15, 2011. These reports include a full description of the Quality Control - Quality Assurance procedures utilized by INV Metals.
Forward-Looking Statement
This press release contains certain forward-looking statements. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of INV Metals to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the actual results of current exploration activities, conclusions of economic evaluations, risks associated with mining and mineral exploration activities, uncertainty in the estimation of mineral resources, including, without limitation, the assumptions on which such estimates are based, changes in project parameters as plans continue to be refined, future prices of metals, economic and political stability in Canada, Namibia and Brazil, environmental risks and hazards, increased infrastructure and/or operating costs, availability of future financing, labour and employment matters, and government regulation. There is no guarantee that any drill targets or economic mineral deposits will be found on INV Metals' properties. For a more detailed discussion of such risks and other factors, refer to INV Metals' annual information form filed with Canadian securities regulators available on .
Contacts:
INV Metals Inc.
Candace MacGibbon
President and Chief Financial Officer
(416) 703-8416
INV Metals Inc.
Robert Bell
Chief Executive Officer
(416) 703-8416
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Datum: 26.09.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 69252
Anzahl Zeichen: 5519
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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