Investigator Resources (ASX: IVR) has received a second batch of drill assays from the Paris silver prospect which continue to reaffirm its potential to develop into a competitive silver deposit.
Drilling on Line 7, in the Northeast High Grade Zone, returned best intersections of 22 metres at 1,318 grams per tonne (g/t) silver from 73 metres, including 9 metres at 2,799g/t.
Managing director John Anderson said this new intersection is another example of the prospect's strong attribute of shallow and high grade mineralisation.
"Another intersection into the Western Deep Sheet by PPDH 4 supports the likelihood for deeper mineralisation," he said.
The Western Deep Sheet on Line 7 intersected 3.4 metres at 1,564g/t silver from 129.6 metres, while the Western Upper Sheet on Line 7 intersected 6 metres at 191g/t silver from 51 metres.
"The intersection of the Western Sheet on Lines 8 and 9 up to 200 metres north of Line 7, including another very high grade silver intersection in PPRC 8, continues to provide encouragement for our initial geological model and the potential for the wider Paris target," Anderson said.
Notable intersections on the Western Deep Sheet of Line 8 include 5 metres at greater than 2,294g/t silver from 101 metres, while the Western Deep Sheet on Line 9 intersected 16 metres at 331g/t silver from 70 metres.
Importantly, these new assays underpin the previously announced highlight intersections of 11.6 metres at 3,847g/t silver from 63.5 metres, including the stunning intercept of 1 metre at 22,500g/t from 66 metres.
Six diamond holes and 43 reverse circulation percussion holes were completed by the end of February over the initial 1 kilometre strike length of the Paris target. Assays have been received for most of the first nine reverse circulation percussion holes.
Drilling has been suspended at Paris temporarily to enable consolidation of pending assays and geological interpretations.
Investigator plans to begin drilling again in late April to undertake large diameter coring to obtain metallurgical samples.
The company is undergoing an aggressive 23,000 metre drilling campaign in 2012, with 10,000 metres of that to be carried out at Paris alone. The remaining 13,000 metres will be carried out on three other locations.
Meanwhile, a geophysical induced polarisation survey is underway at Paris to refine and extend drill targeting.
Investigator is aiming to deliver a maiden JORC Resource to the market around mid-2012.
The Paris prospect is the most advanced of five priority targets within the Peterlumbo epithermal field, located about 400 kilometres northwest of Adelaide.
The 583 square kilometre tenement area is subject to the Peterlumbo Joint Venture between Investigator Resources (75% interest and manager) and Mega Hindmarsh (25% interest).
Eyre Peninsula - Emerging Mining Province
The Paris prospect lies adjacent to a new mining operation about 50 kilometres away on the Eyre Peninsula in South Australia.
"The Eyre Peninsula has got a lot of potential and that's starting to be realised," Anderson told Proactive Investors previously. "It's in an emerging mining province in South Australia."
Paris is situated around 17 kilometres from the township of Kimba and the Eyre Highway, and about 200 kilometres from heavy engineering facilities in Whyalla and Port Augusta.
Interestingly, the prospect is also located around 250 kilometres southwest of BHP Billiton's (ASX: BHP) Olympic Dam operation and about 350 kilometres south of OZ Minerals' (ASX: OZL) Prominent Hill mine.
Strong Investor Backing
Investigator is capturing market attention and has been on an upwards share trajectory since announcing further high grade silver intersections, including the impressive 1 metre at 22,500g/t from 66 metres, in February.
Shares were trading at around A$0.19 in early February and hit highs of $0.42 at the beginning of March, marking a 121% increase.
They are currently trading at around $0.35, up 7.58% today on the back of the new high grade intersections.