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  • Investigator Resources Lines Up More Silver Targets In South Australia 0 comments
    Mar 10, 2013 9:00 PM

    Investigator Resources (ASX: IVR) continues to build up its pipeline of future drilling targets close to its Paris silver deposit in South Australia with the identification of three new high priority targets by first-pass soil sampling.

    Analyses show high silver-in-soil results of up to 415 parts per billion silver at the Peterlumbo East, Peterlumbo Northeast and Victory East targets, which have strike lengths of between 2 kilometres to 5 kilometres.

    The new targets in the eastern part of the Peterlumbo tenement are larger in area and have similar or higher silver values than the Paris target signature at the same stage of exploration.

    "The exciting new silver targets are another very positive result for the joint venture's breakthrough exploration program at Peterlumbo," Investigator Resources' managing director John Anderson said.

    "The new targets not only show substantial size and silver-in-soil values compared with the initial signature of the Paris discovery, they are also well-located within the geology of the Peterlumbo field to be genuine targets for additional bedrock silver deposits.

    "The targets are an excellent addition to the satellite targets already identified and being progressed to drilling nearer to Paris."

    Anderson added the new targets are a high priority for immediate follow up with infill soil sampling with drill testing expected to follow around the middle of the year after the usual access and regulatory requirements are achieved.

    These new targets were delineated by first-pass soil sampling that was previously used to discover the Paris deposit and are located between 15 and 30 kilometres from the deposit.

    Paris silver deposit

    Investigator has been carrying out an aggressive exploration program to prospect for silver, gold and copper targets in the southern Gawler Craton with the primary focus on the Paris silver discovery.

    Thirteen diamond holes were completed during the quarter for a total drill length of 2,957 metres with notable intersections including up to 12.1 metres at 1,766 grams per tonne of silver from 64 metres; 2.8 metres at 1,643g/t from 48.7 metres and 1.2 metres at 896g/t silver.

    Further exploration has resulted in the discovery of multiple satellite silver targets including Alexander, Helen and Trojan Horse as well as porphyry copper potential in the newly-recognised Peterlumbo epithermal field surrounding Paris.

    Soil sampling at the Uno/Morgans tenements have also identified the Morgans South and Wartaka South targets, where contiguous samples of more than 200ppb silver were returned over about 2 kilometres strike for both targets.

    Paris has been compared to large epithermal silver deposits in Latin America such as the Fresnillo Silver Mine in Mexico, which has a Reserve of 325 million silver ounces.

    The company plans to carry out closer spaced drilling at Paris this year to improve confidence in the drill data and is exploring the option of bringing in more drill rigs to progress testing of Paris and the satellite targets after the heritage clearance is obtained.

    Investigator has a 75% working interest in the Peterlumbo joint venture tenement.

    Analysis

    Aggressive exploration has continued to highlight the potential of Investigator Resource's greenfields Paris silver discovery to be a shallow, extremely high grade and large silver deposit.

    Numerous satellite targets also offer the potential to expand the resource, which further enhances its attractiveness.

    Upcoming drilling will provide further confidence to the size of and grade of the Paris deposit while further work such as infill soil sampling will allow Investigator to narrow in on drill prospects at the satellite targets.

    Investigator is well funded for further exploration with cash of $13.16 million as of 31 December 2012. This is about $0.04 cash per share, which compares favourably with its share price of $0.115 and market capitalisation of $38.6 million.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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