Investigator adds copper potential to Paris silver inventory

Investigator Resources (ASX: IVR) remained patient throughout the mineral resources downturn as it waited for silver to be revitalised.

The wait has been rewarded with the silver price enjoying a considerable run since the beginning of 2016 from around the US$14 per ounce mark to be currently hovering between the regions of US$19 to US$20 per ounce.

The timing has been ideal for Investigator as the company gains momentum at its 33 million ounce Paris silver project in the southern Gawler Craton of South Australia.

Investigator has been consolidating development studies on the Paris deposit, and other exciting silver, copper-gold and nickel targets it has identified, preparing an exhaustive round of drill testing.

The project received a big tick of approval from investors in July, when the company announced the raising of $5.4 million from an oversubscribed placement to sophisticated and professional investors.

The company intends using the funds in its efforts to upgrade the project’s 33 million ounce Resource while rapidly advancing feasibility studies with an eye on reaching production.

The objective now is to use the funds from the raising to accelerate development to transform Investigator Resources from being an explorer to becoming a producer,” Investigator Resources managing director John Anderson told The Resources Roadhouse.

“Our stated priorities for 2016/17 are to complete the pre-feasibility study for the Paris silver project.

“We are actively re-assessing silver targets with potential to build on the Paris resource.

“In the interim, the infill drilling of the Paris deposit is planned to commence in late September to meet our on-going priority of accelerating the development of the project.”

As well as the Paris silver project, Investigator also has a number of other exciting opportunities it considers ripe for new discoveries, which it has earmarked for selected target drilling during the next 12-months.

These include new silver targets near Paris, which Investigator believes could be either additions to the Paris resource or separate standalone silver targets with conceptual potential for larger and higher-grade styles of silver deposits.

The company has also identified porphyry-style copper-gold deposits, in particular the Nankivel copper-gold target, where the first drill hole, PPDH147, intersected a large copper-bearing porphyry system.

Investigator believes the Nankivel hole, which is being co-funded by the SA State Government PACE incentive scheme, will become a signature drill hole for a new style of large copper deposits in South Australia.

Its thinking is based on the reasoning that porphyry copper deposits generally occur in local and regional clusters associated with gold and silver deposits.

The results from the Nankivel hole provide the State with the opportunity to expand its copper discovery opportunities beyond its well-established inventory of IOCG deposits like Olympic Dam.

“We have determined the Nankivel porphyry to be most likely around the same age as the giant Olympic Dam deposit, making it one of the oldest preserved copper porphyry systems in the world,” Anderson said.

“The Nankivel hole will provide data for vectoring towards shallow copper targets within the porphyry system.

“This includes the conceptual potential for copper-gold rich veins at the top of the porphyry system for which there is evidence of mineralised float assaying up to 1.4 grams per tonne gold at Nankivel.

“The confirmation of a porphyry centre also upgrades the prospectivity for further silver deposits in the outer parts of the Paris-Nankivel field.”

The new drill core will undergo state-of-the-art spectral logging techniques by the Geological Survey (GSSA) branch of the DSD with the copper-gold assays expected in October.

Other petrological work and mineral spectral logging of the core will look for exploration vectors to any copper-rich zones within the porphyry system.

When results are in, Investigator will select the best locations for further copper-gold drill testing at Nankivel, including consideration the use of electrical geophysics to refine the targets.


Investigator Resources Limited (ASX: IVR)
…The Short Story

HEAD OFFICE
18 King Street
Norwood, SA 5067

Ph: +61 (8) 7325 2222

Email: info@investres.com.au
Website: www.investres.com.au

DIRECTORS
Roger Marshall, John Anderson, Bruce Foy, David Jones