Investigator encouraged by latest assays from Paris drilling

THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has received initial results from the recommencement of drilling around the company’s 100 per cent-owned Paris silver project on South Australia’s Eyre Peninsula.

The company reported the first batch of assays have shown silver intersections in a step-out program around Paris and the first copper hits as well as high-grade silver 3.5 kilometres to the northeast at the Helen prospect.

Investigator has now expanded the drill program from the initially planned 10,000m in response to the positive early results.

Around Paris a total of 30 vertical reverse-circulation percussion (RCP) holes were drilled. Highlights include:

PPRC211
3 metres at 328 grams per tonne silver from 159m;

PPRC204
9m at 65g/t silver from 99m; and

PPRC207
6m at 98g/t silver from 63m.

These results are approximately 300m to 400m to the north of the current 20 million ounce Paris silver Inferred Resource.

At the Helen prospect, 3.5km northeast from Paris, eight vertical RCP holes were drilled.

Assays included:

PPRC234
45m at 0.35 per cent copper from 27m, including 9m at 1.14 per cent copper and 0.31g/t gold from 60m, and 9m at 377g/t silver (and 0.15 per cent copper) from 132m; and

PPRC236

45m at 0.13 per cent copper from 39m.

 

Plan of Paris surrounds and Helen area showing recent drilling for which assays are received. Source: Company announcement

 

“We are about half way through our current Eyre Peninsula drilling around Paris and the first assay results are providing a pleasing strike rate for such a scout program,” Investigator Resources Managing Director John Anderson said in the company’s announcement to the Australian Securities Exchange.

“The Paris silver resource covers an area approximately 1,200 metres by 400 metres, and this new drilling included testing of new zones 400 metres to the north.

“The results are broadly consistent with what we expected – that is some good silver intersections at about 50 metres to 150 metres depth – and we will look to return in the future with more targeted infill drilling.”

Investigator indicated it anticipates further assay results in the coming weeks and months as drilling is completed at the new Helen East and Ajax silver soil targets and Helen West and Diomedes copper gold soil targets.

Other drilling will entail follow-up drilling around the new Paris and Helen intersections and the recently drilled Uno/Morgans prospects 85km to the east of Paris.

“At Helen, only shallow scout drilling had been undertaken in the past on silver soil targets,” Anderson continued.

“Our new drilling went to a deepest depth of 144 metres into a magnetic target and encountered some good copper and silver mineralisation along the way.

“This shows there is a new generation of geophysical targets for testing that adds to the district’s potential to host epithermal precious metals and related porphyry or IOCG-style base metal deposits.

“Assays from the recent first drilling of the nearby Helen East, Helen West and Diomedes targets will also be important in designing follow-up programs.”

Email: info@investres.com.au

Website: www.investres.com.au