Investigator Resources: drilling intercepts of up to 3,970g/t confirmed at Paris prospect

Investigator Resources (ASX: IVR) is well an truly on the investor radar after some top notch intersections at the Paris prospect in South Australia.

The latest good news for the company is that the high grade intersections of up to 3,970 grams per tonne (g/t) silver from the July drilling have been confirmed by detailed assaying at one metre intervals for previously reported intersections, based on three metre composite samples.

The outcome is a very positive one for Investigator, which verifies mineralisation is open in all directions, with the company already looking to commence drill testing of extensions along strike and at depth in November.

As well as confirming the high grade silver of the previously reported intersections, the refined assays have elevated the potential of the three target zones at the prospect.

John Anderson, managing director, commented “The detailed assaying has shown high silver grades at more of the untested margins to the target than we had previously appreciated.

“This has raised the potential of the western and southeastern extensions of the prospect as well as the very high grade silver mineralisation previously reported for the three metre assaying in the Northeast Zone.”


The new confirmed silver assays

- 4 metres at 1,052g/t silver from 72 metres, including 1 metre at 2,080g/t silver, (previously 4 metres at 913g/t silver from 72 metres;

- 3 metres at 422g/t silver from 90 metres, (previously 3 metres at 554g/t silver from 90 metres; and

- 6 metres at 749g/t silver from 36 metres, including 1 metre at 3,970g/t silver, (previously 6 metres at 567g/t silver from 36 metres).


Lead grades also confirmed

- 12 metres at 138g/t silver and 10.0% lead from 33 metres, (previously 12 metres at 141g/t silver and 9.3% lead from 33 metres); and

- 6 metres at 227g/t silver and 4.3% lead from 42 metres, (previously 6 metres at 170g/t silver and 3.3% lead from 42 metres.

The Paris prospect is the most advanced of five priority targets within the Peterlumbo epithermal field, located about 400 kilometres northwest of Adelaide.

The project area is subject to the Peterlumbo joint venture between Investigator with 75% and Mega Hindmarsh Pty Ltd with a 25% interest. Both parties are contributing.


The next step

The Paris prospect offers a wealth of high priority drilling opportunities which are being expedited, with a contingent drilling plan with four diamond core holes planned to be completed on Drill Line 7 followed by about 4,000 metres of reverse circulation percussion drilling of the immediate depth and lateral extensions to the Paris prospect.

Investigator said that it is intended the diamond drilling on Line 7 will commence in November with a contractor and joint venture/heritage/government approvals being sought.

This initial drilling will provide structural information to verify or revise the shallow dipping sheet model and will be extended to 200 metres depth to test the prospect to nominal open pit depths.

The contingent reverse circulation percussion drill pattern will be adjusted according to the results of the diamond drilling with downhole depths of 200 metres also planned for these holes.


Funding strategy - fully underwritten rights

Last month Investigator launched a three for seven non-renounceable rights, which will raise up to $8.3 million through the issue of up to 75.7 million new shares. The issue price will be $0.11, and is a discount to the last traded price of $0.135.

Most importantly for the capital raising program, and showing a major vote of confidence in the company's operations, the issue is fully underwritten by Austock Securities.

Shareholders will also be provided with the opportunity to further increase their shareholding in the company by applying for shares in excess of their pro rata entitlement.