Investigator Resources Limited (ASX: IVR) has intersected “significant” high-grade silver in its 7,600m regional exploration drilling programme focused on six prospects across the 100% owned Peterlumbo tenement that hosts the Paris Silver Project in South Australia.
Paris is a shallow, high-grade silver deposit amenable to open pit mining and hosts a Mineral Resource estimate of 18.8Mt silver at 88g/t for 53.1Moz of silver at a 30g/t cutoff.
High-grade silver intersected in the recent drilling included 7.0m @ 700g/t silver from 150m, including 4.0m @ 1170g/t silver from 150m.
With positive, previously reported Pre-Feasibility Study outcomes, the company is undertaking work towards completion of a Definitive Feasibility Study whilst progressing exploration initiatives across its significant ground holding within South Australia.
“Whilst we eagerly await the majority of assays from the recent 7,634m programme which was drilled in March and April on the Peterlumbo tenement, targeting potential additional silver resources, I am delighted that the team identified strong mineralisation and fast tracked these two holes reported from the Apollo prospect,” Managing Director, Andrew McIlwain, said.
“The result reported today represents the highest grade silver intersection ever identified outside of the Paris deposit in our exploration efforts, and demonstrates that there remains significant potential for the discovery of additional silver resources proximal to Paris.
“The drilling at Apollo targeted an interpreted structural lineament sub parallel to significant cross cutting dykes at Paris. It was also a step out test of the 2020 drilling to the south that had identified narrow intervals with silver mineralisation.
“When first logged, the mineralised interval did not exhibit obvious signs of mineralisation other than an increase in quartz carbonate veining and a slight increase in pyrite content.
“Current industry activity levels continue to result in lengthy delays in the return of assays from the laboratory and I look forward to reporting the remainder of the results from this program of drilling surrounding Paris.
“Additionally, we are anticipating the return of assays from the drilling programme across the Uno Range and Morgans tenements, completed in March, by the end of June.
“A diamond rig is currently drilling at Paris providing information for final geotechnical assessment and planning of the open pit.
“The rig will then move to drill an additional hole at Apollo adjacent to the mineralisation intersected in order to gain valuable insight into the structural controls on mineralisation which will assist follow up drilling on this exciting target.”
For further information please visit: https://investres.com.au/
