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 hits visual sulphide mineralisation at Paris silver prospect
Investigator Resources (ASX: IVR) has intersected three visual intervals of sulphide mineralisation, including massive sulphides, from the first two holes of the drilling program that commenced on November 26 at the Paris silver prospect.
The two diamond holes completed so far on Drill Line 7 were following up previous "stunning" high grade silver intersections of up to 3,970 grams per tonne (g/t) silver announced at the prospect in October.
The visual intersections support the preliminary geological model and significant mineralisation potential at the prospect on the Eyre Peninsula of South Australia.
Despite the challenge of slow drilling conditions, the visual results are a promising start to the new drilling campaign at Paris.
John Anderson, Investigator Resources' managing director, said “the early results of the diamond drilling continue to upgrade the substantial silver potential of lateral and depth extensions within the large Paris mineral system.”
The company said the thicknesses and positions of the sulphide intersections are consistent with the target model, being on the margins of extensively altered and brecciated rhyolite intrusives.
As silver grades cannot be visually estimated, core samples are being cut for immediate submission for laboratory analysis with results anticipated late January.
A second drill rig is now on site to improve progress. The drill crews will break for Christmas on 20th December and will resume drilling on 6th January.
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 (holding 75% and Manager) and Mega Hindmarsh Pty Ltd (25% interest).
New Diamond Drilling
The new drilling is testing lateral and depth extensions to high grade silver intersections in prior shallow vertical drilling along Drill Line 7.
The diamond holes are being inclined at 60 degrees angle and have nominal completion depths of 250 metres.
The holes will also evaluate preliminary interpretations of the geological geometry and mineralisation vectors made from the earlier limited drilling.
The first hole was drilled as a shakedown hole on the western end of Line 7 and completed to 260 metres downhole depth.
The second hole was designed to drill adjacent to the best intersection of 4 metres at 1,052 grams per tonne silver at the bottom of a prior hole on the eastern end of the line.
Both holes intersected shallow sulphide mineralisation comprising pyrite (iron sulphide), galena (lead sulphide) and sphalerite (zinc sulphide).
Line 7 is one of nine lines of drill holes that encountered silver mineralisation over an area of 800 metres by 400 metres and open at depth and possibly in all directions.
The similar sulphide assemblage for the three intervals of sulphides intersected to date by the new diamond drilling and their location on extensions to prior silver intersections raises the likelihood these will also carry silver values.
