INV Metals Awarded Exploration Concessions
TORONTO, ON – January 23, 2017 – INV Metals (“INV Metals” or “Company”) (TSX: INV) is pleased to report it has been awarded the mining title to 9 adjoining concessions in Ecuador, totalling 30,278 hectares, named the Las Peñas project (“Las Peñas” or “Property”).
Ms. Candace MacGibbon, CEO, stated “We are very pleased with the acquisition of this sizeable greenfields exploration project. The Company believes Las Peñas holds numerous low and intermediate sulphidation gold, silver and base metal targets. There is considerable exploration potential within Ecuador and the Company is pleased to add this highly prospective exploration project to its portfolio of assets.”
The concessions are located in the provinces of Azuay and Cañar, approximately 20 to 40 km north of the Company’s Loma Larga gold development project. Las Peñas is situated within a NE-SW mineralized structural trend, covering an area of approximately 70 km by 30 km which hosts the Rio Blanco gold and silver project to the south west. Previous work in the area was carried out between 1993 and 2000 by various parties, indicating the presence of potential gold mineralization through the numerous geochemical anomalies, alteration and mineralization already identified on the Property.
The scientific and technical information contained in this press release has been reviewed and approved by Ms. Shastri Ramnath, P.Geo, a Licensed Professional Geologist with the Association of Professional Geoscientists of Ontario and consultant to the Company, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Minerals Projects.
About INVTM Metals
INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of precious metal projects in Ecuador. Currently, INVTM Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold property in Ecuador, (2) its 35% interest in the Kaoko property, located in Namibia, and (3) its 100% interest in the Las Peñas exploration project in Ecuador.
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 achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, exploration plans, targets and results, and potential mineralization. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Such factors include, among others, risks related to the actual exploration targets, the actual results of exploration activities, industry-wide risks and project-specific risks, and risks associated with mining and mineral exploration activities. There is no guarantee that any targets will result in any exploration success. For a more detailed discussion of such risks and other factors, refer to the Company’s annual information form dated March 1, 2016 and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking statements contained in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.