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  • Investigator Resources Defines Maiden Resource At Paris Silver Project 0 comments
    Oct 15, 2013 12:39 AM

    Investigator Resources (ASX: IVR) has hit a milestone, defining a maiden Inferred Resource of 20 million ounces of contained silver and 38,000 tonnes of lead at the potentially open pittable Paris Silver Project in South Australia.

    Notably, the untested lateral extensions to the drilled resource area offer opportunities to expand this Resource.

    "The maiden Inferred Mineral Resource is an excellent start for the Paris silver deposit. As an example of a style of productive silver deposits overseas, Paris is at the forefront of an emerging new silver belt in South Australia," managing director John Anderson said.

    "The large initial resource, high average silver grade and shallow, potentially open-pittable depth confirmed our expectations that Paris is a quality silver deposit with expansion potential.

    "Since the first discovery holes in 2011, Investigator has continued to advance the understanding of the complex geology and exciting silver potential at Paris. Our technical and support staff, contractors and consultants are commended for their considerable efforts and persistence towards achieving our first resource goal for the Paris silver deposit.

    "Metallurgical laboratory trials are underway on Paris samples with results expected soon."

    Paris Silver Project

    The Inferred Resource of 5.9 million tonnes at 110 grams per tonne silver and 0.6% lead using a 30g/t silver cut-off was independently prepared by Mining Plus Pty Ltd.

    A total of 298 holes for 36,530 metres were used for the resource estimate. These comprise 78 aircore holes for 4,978 metres, 78 reverse circulation holes for 10,766 metres and 142 diamond holes for 20,786 metres.

    The silver recovery characteristics for the Paris mineralisation are being assessed by metallurgical laboratory trials that are nearing completion.

    Mineralisation at the project, which includes mixed oxide, transition and sulphide, is interpreted to occur within a volcanic vent environment with multiple generations of volcanism, mineralisation and brecciation related to the Gawler Range Volcanics.

    The reported Inferred Resource at Paris occurs over an area of about 1,200 metres by 400 metres and to a depth of 150 metres below the flat land surface.

    A block model was constructed with primary cell dimensions of 25 metres x 25 metres x 2.5 metres.

    The company noted that the silver data is highly skewed with rare extreme outliers and high yield sample restrictions were implemented.

    This was applied to silver such that high yield samples are not used in estimations beyond two blocks.

    Mineralisation at Paris/Peterlumbo is considered to have formed at the same time as the Olympic Dam iron-oxide, copper and gold (IOCG) deposit and opens up new target potential for epithermal, porphyry and IOCG-style deposits in the southern Gawler Craton.

    Analysis

    The initial Inferred Resource of 20 million ounces of contained silver at the Paris Silver Project represents a strong foundation for Investigator Resources to build a project on.

    This is enhanced by the shallow depth of the mineralisation, which lends itself to an open pit development as well as potential for resource upgrades.

    In addition, the company had previously noted that the mineralisation is amendable to free digging, which could further lower capital and operational expenditure.

    Its successful strategy at Paris can now be applied across the rest of the Peterlumbo epithermal field, which contains four other priority targets, paving the road for substantial future growth.

    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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