Investigator Resources' (ASX: IVR) infill drilling at its Paris Silver Project in South Australia has returned an encouraging initial assay of 4.6 metres at 1,557 grams per tonne silver from 45 metres.
Mineralisation of the hole in the North Eastern Zone began from a depth of 45 metres.
"Further drilling is planned over the next two months to enable the high-grade mineralisation currently identified to be included in the maiden Inferred Mineral Resource, expected in the September quarter of 2013," managing director John Anderson said.
"Our next priority is to test the satellite silver targets at possible truckable distances around Paris. These were largely cleared by the January heritage survey so we are getting ready to add two drill rigs to test the satellite targets from next month."
The infill drilling of seven diamond holes is being carried out with closer spacing and with new hole orientations in the areas of high silver grade intersections.
This is designed to better understand the structural controls and geometries of the high-grade mineralisation and to gain the confidence required for the upcoming resource estimation.
Initial visual results have also been encouraging with PPDH062 appearing to have intersected the oxidised gossan zone of the originally named Lead Spine between 42.3 metres and 57.7 metres while PPDH060 has intersected six sulphide intervals between 80 metres and 126 metres as well as a visible sulphide mineralised interval between 157 metres and 175 metres.
PPDH061 that is west to PPDH060 also intersected shallow visible mineralisation including native silver at 61.9 metres.
Structural analysis of these holes is in progress, however the initial visual results indicate the strategy of infill and orthogonal drilling will deliver improved data on the high-grade mineralisation at Paris.
Once the diamond drilling is completed and a preferred drill orientation is confirmed, Investigator plans to use reverse circulation drilling to expedite further infill drilling around the previous high grade intersections.
About 3,000 metres of reverse circulation drilling is allocated for the infill drilling commencing in April with all assays expected to be returned by June.
The new drill results also confirmed the Paris prospect is open to the north and south of the 1.1 kilometres long trend drilled to date.
Investigator is well funded for further exploration with cash of $13.16 million as of 31 December 2012, or about $0.04 cash per share.
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