INV Metals has announced an update on exploration at the Rio Novo property in the Carajás County, Brazil and the Itaporã property in the Pará state, Brazil.
INV Metals has moved a diamond drill to the east of Rio Novo North claim in order to carry on the analysis for potential strike expansion at Serra Pelada high-grade mineralization of platinum-palladium-gold and drilling is anticipated to commence by this week. The company has planned to drill around 4,050 metres at Rio Novo North that comprises a primary 1,500 metres at the claim’s east section and 2,550 metres at three further distinct regions on the Rio Novo North claim.
The company will start the drilling using a second diamond drill at the southern part of the Rio Novo property to examine the potential of the property to find bulk copper-gold deposits. The drilling of about 3,150 metres has been planned at RN-4, RN-7, RN-8 and RN-11 targets. INV Metals has finished further in-fill geochemical soil sampling and geological mapping at a few targets.
The company has proposed a preliminary 1,500 metre drilling at the Itaporã gold property. When the drill program testing is completed at Rio Novo, it is anticipated to start drilling at Itaporã. Additional geological mapping is continuing at Itaporã.
INV Metals has signed agreements with Teck to buy a preliminary 50% interest in the Rio Novo property.