Invenio Resources has completed the field work at its Candle Hills and Ganes Creek gold projects in Alaska.
The company’s induced polarization (IP) geophysical survey of 42-line km conducted at the Ganes Creek project has enclosed a favorable geological area of over around 4 km to the Katz zone from the Pzs zone. This IP survey has coupled the early IP grids, which focused on these particular zones and has additionally expanded these grids to enclose the regions that were mapped by the previous operators. Besides the IP survey, the company has widely mapped numerous regions that were identified formerly with a favorable geology. Invenio will not drill the Ganes Creek during 2011, because of the absence of suitable equipment and the adverse market circumstance. The fresh geophysical information and the mapping campaign results will be combined with a wide geochemical, geophysical and geological database. The results will be announced once the compilation is finished.
The Candle Hills gold property is the second project of Invenio and is situated around 55 km from the Ganes Creek project. Recently, the company has completed the work campaign, including soil and rock sampling, line cutting and geological mapping at the Candle Hills. It has sent the samples for testing and the results will be available when obtained and inferred.
In addition, Palladon Ventures has given a non-payment notice to Invenio relating to the Kings Canyon and Green Springs properties. Invenio is making an attempt to work with the Palladon Ventures to advance the benefit of all the parties.
Source: http://www.invenioresources.com/