08:49 AM EDT, 03/25/2025 (MT Newswires) -- Inventus Mining ( GNGXF ) reported Tuesday "positive" results from phase one resource drill program at the Pardo gold project in Ontario.

The company said the results confirmed continuity of the gold mineralization within 18 meters of surface, which remains open for expansion.

Results include 1.74 meters grading 0.8 grams per tonne (g/t) gold and 3.11 meters grading 1.3 g/t gold.

"These results strongly reinforce our goal of developing a low-capital, high-margin surface mining operation," said Wesley Whymark, Inventus' president and head of exploration. "With year-round access and proximity to Sudbury's world-class mining infrastructure, Pardo presents a compelling opportunity for near-term development."

Moving forward, Inventus said it plans to pursue additional bulk sampling alongside a phase 2 resource drill program.

According to Inventus, additional bulk sampling will demonstrate more confidence of the gold grade and project economics, while the phase two drilling will define a larger area of gold mineralization and set the stage for a maiden resource estimate.