INV Metals Commences Drilling At Rio Novo, Brazil
TORONTO, ON – April 27, 2011 – INV Metals Inc. (“INV Metals” or “Company”) (TSX: INV) is pleased to provide an exploration update on the Rio Novo property, located in the Carajás region, Brazil and the Itaporã property, located in the state of Pará, Brazil.
A diamond drill has been mobilized to the eastern portion of the Rio Novo North claim to continue to test for the possible strike extension of the Serra Pelada high grade platinum-palladium-gold mineralization with drilling expected to begin this week. The Company intends to drill approximately 4,050 metres at Rio Novo North, which includes an initial 1,500 metres at the eastern portion of the claim and 2,550 metres at three additional discrete areas on the Rio Novo North claim which will test various precious metals anomalies.
A second diamond drill will commence a drill program on the southern portion of the Rio Novo property later this spring to test the property’s potential to host large copper-gold deposits. A total of approximately 3,150 metres is planned at the RN-4, RN-7, RN-8 and RN-11 targets. Additional in-fill geochemical soil sampling and geological mapping has been completed or is underway at certain targets.
At the 100% owned Itaporã gold property, an initial 1,500 metre drill program is planned to follow up on previous INV Metals drilling and various gold-in-soil anomalies. The drilling at Itaporã is expected to commence following the completion of the drill program testing the copper-gold targets at Rio Novo. Further geological mapping at Itaporã is on-going.
INV Metals entered into agreements with Teck which provide INV Metals the right to acquire an initial 50% interest in the Rio Novo property (see INV Metals’ press release dated August 4, 2009).
About INVTM Metals
INVTM 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, INVTM Metals’ primary assets are: (1) its option to acquire 50% of the Rio Novo property, located in Brazil, (2) its option to acquire 50% of the Kaoko property, located in Namibia, (3) its 100% owned Itaporã 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 INVTM Metals’ website at www.invmetals.com to view additional details relating to the properties.
This press release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond INV Metals’ ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. There is no guarantee that any drill targets or economic mineral deposits will be found on INV Metals’ properties. 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, 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. For a more detailed discussion of such risks and other factors, refer to INV Metals’ annual information form with Canadian securities regulators available on www.sedar.com.