Investigator Resources identifies new epithermal field

THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has been encouraged by recent worked conducted on the company’s 100 per cent-owned 343 square kilometre Uno and Morgan tenements, located west of Port Augusta in South Australia.

 

Location map of Investigator tenements, highlighting the Uno/Morgans project. Source: Company announcement

 

Investigator believes the work has demonstrated the tenements could be a likely new epithermal field with precious and base metals potential having received assays from a field campaign carried out in late-2013.

Rock chip samples were taken and epithermal and gossanous (weathered sulphides) outcrops mapped to follow up a previous detailed soil sampling program.

Investigator identified the more significant observations to be gossan outcrops at two soil targets called Hurricane and Harvest where rock chips returned maximum assays of:
 
144 grams per tonne silver, 0.41 per cent copper, 1.46 per cent lead and 0.12 per cent cobalt.

The company explained prior exploration in the 1980s and 1990s by Shell and Placer had focussed on Broken Hill-style targets saying the latest discovery of gossans and mineralised outcrops in new soil targets had added support to new geological models and exploration opportunities.

“The Paris silver resource is one of the most significant discoveries in South Australia for some time because it shows the Eyre Peninsula has epithermal and porphyry potential,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.

“The cluster of new soil targets with silver, copper, lead and cobalt mineralised outcrops at Uno/Morgans, just 85 kilometres from Paris, add further weight to those geological models.

“Such outcrops are a great find and underpin another rare exploration opportunity for investigator to chase large, shallow targets with exposed mineralisation.

“Investigator starts 2014 with a great and growing project at Paris and now Uno/Morgans is another compelling exploration project in a similar setting and we look forward to returning to the field.”

Email: info@investres.com.au

Website: www.investres.com.au