INV Metals Inc.
TSX : INV

INV Metals Inc.

September 22, 2011 09:09 ET

INV Metals Announces New Copper Discoveries at Kaoko, Namibia

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2011) - INV Metals Inc. ("INV Metals" or the "Company") (TSX:INV) is pleased to announce the discovery of significant copper-silver mineralization at the Omatapati and Okozonduno targets at the Kaoko copper-silver property, Namibia.

The 2011 exploration program at the extensive Kaoko property, located in northwestern Namibia, commenced in late May and consisted of approximately 11,900 m of diamond and reverse circulation drilling. Mr. Robert Bell, CEO, stated, "We are pleased to announce that significant copper mineralization was discovered at two new target areas within the Kaoko property. At the Omatapati target, drilling intersected 19.0 m grading 2.0% copper and 119.8 g/t silver, including 5.0 m grading 6.4% copper and 410.3 g/t silver. At the Okozonduno target, drilling intersected 20.0 m grading 1.2% copper and 24.4 g/t silver, including 7.0 m grading 2.8% copper and 59.6 g/t silver." Mr. Bell added, "INV Metals continues to build upon its mandate to unlock multiple copper discoveries and to identify new targets within the extensive Kaoko property in addition to the inferred resource at the Okohongo deposit. A follow-up drill program is planned to commence in October to determine the extent of the mineralization at both targets."

Omatapati Target

A four hole, 676 m diamond drill program was completed at the previously undrilled Omatapati target, located approximately 50 km southeast from the Okohongo deposit. The target is comprised of a north-south trending breccia zone containing stockwork veins and disseminations of chalcopyrite, bornite, and chalcocite within dolomites and siltstones, exposed over approximately 400 m of strike and up to 130 m in width. Results are reported below. Hole INVD-14 intersected 19.0 m grading 2.0% copper and 119.8 g/t silver, including 5.0 m grading 6.4% copper and 410.3 g/t silver.

The high-grade mineralization intersected in hole INVD-14 appears to be open down dip and along strike in both directions. However, there has been insufficient drilling to determine the geometry of this zone and the relationship between core lengths reported and true width are unknown at this time. A follow-up drill program consisting of approximately 1,000 m is planned to commence during October to test the extent of mineralization along strike and down dip.

Adjusted for
core loss*
Length From To Width
Hole (m) (m) (m) (m) Cu % Ag g/t Cu % Ag g/t
INVD-13 169.8 13 24 11 0.52 13.3 0.36 10.0
including 13.0 15.5 2.5 1.56 29.6 0.92 15.9
34 103 69 0.16 8.7 0.16 8.6
including 34 35 1 0.56 35.5 0.56 35.5
and 74 93 19 0.40 22.9 0.40 22.9
and 100 103 3 0.17 1.3 0.17 1.3
INVD-14 250.8 31 50 19 2.03 119.8 1.63 93.4
including 33 38 5 6.44 410.3 5.02 312.3
and 47 50 3 1.18 31.8 1.18 31.8
INVD-15 169.8 72 92 20 0.46 26.6 0.46 26.6
including 74 80 6 0.89 49.0 0.89 49.0
and 85 91 6 0.39 27.3 0.39 27.3
INVD-16 85.9 No significant values
*Core recovery was variable in certain portions of the breccia zone due to faulting; values in this column assume copper and silver grades of zero for lost core, i.e. if in a given sample core recovery was 75%, the values used are 75% of the analytical results for the sample. This methodology provides a conservative estimate of the graded intervals.

Okozonduno Target

The four hole reverse circulation drill program at Okozonduno totalled 479 metres and the results are reported below. Hole INVR-109 intersected 20.0 m grading 1.2% copper and 24.4 g/t silver, including 7.0 m grading 2.8% copper and 59.6 g/t silver. A follow-up drill program of 500 m is planned at the Okozonduno target to commence in October.

The Okozonduno target area is located approximately 40 km southwest of the Okohongo deposit. The target consists of copper and silver mineralization in either Omivero Formation chlorite schist or Lower Omao (Okohongo Horizon) just above the Nosib sandstone contact. The schist hosts copper oxide over a minimum width of five to ten metres that is largely covered with calcrete. The showing is associated with a large 50 m by 70 m system of cross cutting quartz veins developed in the hinge of a fold. Quartz veins carry secondary copper minerals including malachite, chrysocolla, plancheite and dioptase.

Hole Length (m) From (m) To (m) Width (m) Cu % Ag g/t
INVR-109 102 25 45 20 1.15 24.4
including 38 45 7 2.82 59.6
or 38 42 4 4.68 82.2
or 38 41 3 5.88 102.6
INVR-110 114 90 93 3 0.80 17.8
including 91 92 1 1.14 25.7
INVR-114 137 No significant values
INVR-115 126 93 96 3 0.23 8.3
The true thickness of the intervals is not known at this time.

Oruvandjai Target

Five diamond drill holes totalling 848 m were completed at the sandstone-hosted Oruvandjai target. Two holes tested outcropping mineralization comprised of disseminated chalcocite and chalcopyrite, while the other three tested IP anomalies located adjacent to surface copper showings. The IP anomalies appear to be due to increased porosity in the sandstones, and not to mineralization. Copper mineralization was intersected in hole INVD-09 as noted below and the true thickness of the intervals is not known at this time. No further work is planned at the Oruvandjai target.

Hole Length (m) From (m) To (m) Width (m) Cu % Ag g/t
INVD-09 121 14.1 18.2 4.1 0.85 31.6
including 14.9 17.4 2.5 1.26 42.3

Additional Targets

No significant mineralization was encountered at five additional targets which were drill tested with a program totalling 2,016 metres.

INV Metals is currently awaiting assay results for the three targets areas Okakuyu, Okakuyu South and Okapanda. Drilling at these targets totalled 1,199 metres.

INV Metals entered into agreements with a subsidiary of Teck Resources Limited which provide INV Metals the right to acquire an initial 50% interest in the extensive Kaoko property, located in northwest Namibia (see INV Metals' press release dated August 4, 2009).

Mr. Michael Stuart, a Professional Member of the Institute of Materials, Minerals and Mining and an employee of INV Metals, is INV Metals' designated Qualified Person as defined in NI 43-101 of the Canadian Securities Administrators and is responsible for the scientific and technical information contained in this press release.

About INVMetals

INV™ 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, INV™ Metals' primary assets are: (1) its option to acquire an initial 50% of the Rio Novo property, located in Brazil, (2) its option to acquire an initial 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 INV™ Metals' website at www.invmetals.com to view additional details relating to the properties.

INV Metals filed Technical Reports with the relevant securities regulators entitled "Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia" dated August 3, 2011 and "Technical Report on the Kaoko Copper-Silver Property in Northwest Namibia" dated June 15, 2011. These reports include a full description of the Quality Control – Quality Assurance procedures utilized by INV Metals.

Forward-Looking Statement

This press release contains certain forward-looking statements. 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, including, without limitation, the assumptions on which such estimates are based, 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. There is no guarantee that any drill targets or economic mineral deposits will be found on INV Metals' properties. For a more detailed discussion of such risks and other factors, refer to INV Metals' annual information form filed with Canadian securities regulators available on www.sedar.com.

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