Highlights:
Invenio has secured an option to purchase a 100% undivided interest in The Candle Hills Gold Property located in the prolific Tintina Gold Belt, southwest Alaska. Candle which consists of 61 claims totaling 9,760 acres is located 15 kilometres southwest of the village of McGrath and 55 kilometres by road to Invenio’s Ganes Creek Property. The Property is adjacent to lands conveyed to Doyon Ltd. and to claims held by Newmont Mining. The Candle is in close proximity of to Ganes Creek, allowing the Company to initiate a first phase of exploration at Candle efficiently and quickly.
Gold mineralization at Candle is potentially plutonic-hosted stockwork and fault-fill vein style. Geological and whole-rock geochemical relationships combined with the identification of copper-gold-silver-arsenic-mercury anomalies within the Candle Hills igneous complex indicates strong similarities to other deposits along the Iditarod – Nixon Fork fault such as Freegold Ventures’ Vinesale Mountain and Fire River Resources’ Nixon Fork.
The head waters of Candle Creek begins at the northern boundary of the Property and flows northeast through a broad valley that drains the Candle Hills igneous complex. Placer gold deposits along the upper three kilometres of Candle Creek were mined by hand, mechanized open-cut, and bucket-line dredge operations through the 1930’s but stopped at the steep slopes just below the Property. Historical reports of this mining activity indicate placer production of approximately 138,000 ounces of gold and 12,000 ounces of silver. During the 1990’s limited placer mining in Candle Creek recovered gold that was commonly associated with cinnabar thus further indicating a good correlation between mercury and gold in the area.
