Investigator Resources (ASX: IVR) has identified a new outlying intersection of massive sulphides in the Western Sheet, which is likely to add to the extensive high grade silver results and reinforce the potential of the large Paris silver prospect to expand.
The new sulphide intersection and a revised geological model significantly upgrade the potential for further silver on the western side of the large Paris prospect on the Eyre Peninsula in South Australia.
The Western Sheet is consistently showing five metres true thickness, high silver grades and shallow westerly dips along at least 300 metres strike that could more than double in length.
The untested downdip extensions of the Western Sheet are potentially high grade and at shallow open-pittable depths.
After completing 28 new diamond holes with two rigs through to the end of August, Investigator took a short break from drilling to undertake the review of the complex geology and target priorities ahead of planning optimum hole positions and angles in further drilling.
Meanwhile, first assays for new drilling near prior high grade intersections continue to show high silver grades and extensive voids in the shallow oxidised levels of the Paris deposit.
The new geological model expands the potential of the Paris prospect by connecting the high grade silver intersections across the 400 metres width of the prospect.
John Anderson, managing director, said the Paris silver prospect continues to develop as a very strong subvolcanic mineral system that is producing extensive high grade silver intersections in multiple zones.
"Investigator will start drilling again this week to test the expanded silver opportunities at Paris and we are anticipating there will be more positive surprises from this large prospect."
The company has upgraded the untested shallow extensions of the Western Sheet to the highest priority target for further potential silver resources.
Assay results for the remaining 21 holes, including new drilling of the Western Sheet, are expected during the next two months.
Drilling will recommence at Paris with one diamond rig this week to continue testing of the immediate and upgraded Western Sheet target.
Paris potential evident
The greenfields Paris silver discovery has shown its potential to be a shallow, extremely high grade and large silver deposit.
This is evident in the latest assays from re-drilling some of the prior high-grade silver intersections.
Impressive intersections included 14 metres at 1,857 grams per tonne (g/t) silver from 46.1 metres including 2 metres at 9,444g/t silver, 0.19g/t gold, 0.06% copper, 6.7% lead, 0.06% zinc; 5.5 metres at 1,062g/t silver and 0.45% lead from 50.6 metres; and 3 metres at 655g/t silver, 0.04g/t gold, 0.12% copper, 0.85% lead and 0.02% zinc from 33.4 metres.
Ongoing drilling at Paris is aiming to define a maiden Resource by the end of 2012.
Paris is located within the large new Peterlumbo field that hosts widespread near-surface potential for epithermal and porphyry targets.
Investigator's 2010 soil geochemistry revealed the real potential of the field and led to the Paris silver discovery, which provides first mover opportunities in a new precious metals field.
Importantly, the company is well placed financially to rapidly advance its Paris prospect with A$18.3 million in the bank at mid-July 2012.
Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.