Investigator Resources Upgrades Paris to 42Moz of Silver
THE DRILL SERGEANT: Investigator Resources (ASX: IVR) announced an upgrade to Mineral Resource Estimate of the company’s Paris silver project, located within the company’s 100 per cent-owned Peterlumbo tenement on the northern Eyre Peninsula of South Australia.
Investigator Resources explained the upgrade followed a program of infill drilling undertaken on the project late last year.
Total Mineral Resources are now estimated at 9.3 million tonnes at 139 grams per tonne silver and 0.6 per cent lead for 42 million ounces of contained silver and 55,000 tonnes contained lead at a cut-off of 50g/t silver.
When compared with the previous 2015 Inferred Mineral Resource Estimate of 8.8 million tonnes at 116g/t silver for 33 million ounces – using the same cut-off – the new estimates show:
A 20 per cent increase in silver grade re-emphasising the high-grade and quality ounces of Paris compared with Australian peer silver deposits; and
A 26 per cent increase in contained silver ounces reflects progressive growth in the resource estimates for Paris.
The Indicated component of the new estimate is 4.3 million tonnes at 163g/t silver and 0.6 per cent lead for 23 million ounces contained silver and 26,000 tonnes contained lead (mostly in the area of recent infill drilling).
Investigator said the upgrade had provided the company with confidence to proceed with prefeasibility studies on the Paris silver project to build on positive initial metallurgical work.
“Investigator is pleased to report the upgraded results of the Mineral Resource for the Paris silver project,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.
“The high-grade and additional ounces confirm Paris as possibly the best undeveloped silver deposit in Australia.
“The increased confidence in the resource enables Investigator to continue with prefeasibility studies including mine design, local water supply and metallurgical extraction.
“The objective is to develop Paris as a high-grade open-pit mining project.
“The prefeasibility study is scheduled for completion in the third quarter of 2017.
“The upgraded Paris resource technically underpins the search for much larger copper-gold porphyry deposits at the adjacent Nankivel prospect where a drilling program is currently in progress.”
Email: info@investres.com.au
Website: www.investres.com.au