www.investres.com.au
Investigator Resources (ASX: IVR) is exploring for iron oxide, copper, gold and uranium deposits in the southern Gawler Craton of South Australia. The majority of the company's 7,000 square kilometres of tenure is in South Australia, with tenements also in Queensland and the Northern Territory.
One of the company's key projects is the Paris silver discovery and other silver targets within the large newly recognised Peterlumbo epithermal field on north Eyre Peninsula.
Investigator Resources follow up drilling points to near surface silver potential at Paris prospect
Investigator Resources (ASX: IVR) has intersected promising geology over a wide area after completing drilling across the full extent of its Paris silver prospect, following the strong silver intersection by the initial scout drilling during January.
The company is continuing to progress the Paris silver prospect at pace with very good visual results in the latest drilling. Results indicate a large epithermal system is coincident with the 1,200 metre long x 200 to 400 metre wide geochemical target at the prospect.
The 68 hole program of aircore and hammer drilling totalled 4,600 metres and followed up a previous shallow scout intersection of 8 metres at 190 grams per tonne (g/t) silver at the edge of the target area.
A prospective package of carbonate and graphitic rocks, skarn, jasperoidal silica and pyritic clays was intersected under cover throughout the target area.
John Anderson, managing director of Investigator Resources, told Proactive Investors today "there are at least another three soil anomalous areas along our 150km long tenement belt showing similar evidence of large mineralised centres that are awaiting further exploration.
"So our approach on Eyre Peninsula of careful ground selection and exploration through thin cover using modern geochemistry is paying dividends.
“The only previous effective drill test intersected 8 metres of nearly six ounces of silver that is open at depth and is on the edge of the target. So we are pleased the new drilling intersected a prospective package of carbonate and graphitic rocks, showing epithermal and skarn alteration, under most of the 1,200 metre by 200 to 400 metre area of the Paris target,” Anderson added.
The company said "multi-phase intrusives support the interpretation of a subvolcanic mineralisation centre with silver, gold and base metal potential at shallow depth." Drill assays are expected in August.
The Paris prospect is the most advanced of five priority silver-in-soil geochemical targets within a newly-recognised epithermal field at Peterlumbo, situated approximately 400 kilometres northwest of Adelaide on Eyre Peninsula, in South Australia.
Investigator Resources announced on June 2 that it raised $1.1 million through a private placement of 21,568,627 shares at $0.051 to fund exploration works at the Peterlumbo and Bute projects.
The Peterlumbo exploration project is being explored under a Joint Venture between Investigator (75% interest and Manager) and Mega Hindmarsh Pty Ltd (25% interest).
The JV applies to Exploration Licence 4228 covering a 583km2 area located about 400km northwest of Adelaide.
