Investigator Resources makes geological breakthrough at Paris
THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has increased its understanding in the geological understanding of the Paris silver prospect, located within the company’s Peterlumbo Joint Venture tenement (75 per cent IVR) in South Australia.
Recent drilling completed by Investigator has intersected extensive mineralised breccias, which the company considers to have explained its prior uncertainty about the Paris geology.
Investigator said it has also added to the project’s silver potential due to subvolcanic vent breccias underlying and reworking the earlier flat-lying silver deposits in the basal volcanics.
The company is of the opinion its improved geological model enhances the potential for more vent-related silver deposits within Paris, and for epithermal and vent breccia deposits at the surrounding larger targets of Alexander and Hector; as well as for the porphyry copper gold target under obscuring gravel cover at Peterlumbo Hill.
“The new intersections and upgraded target model are a great credit to the Investigator team that has persisted with the difficult geology and drilling conditions at the Paris silver prospect,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.
“The three diamond rigs currently at the Paris silver project are now producing good core recoveries at a reasonable production rate.
“This has enabled the geological breakthrough that we have been waiting for that shows Paris is in a large multiphase minerals complex with a lot of potential upside for more discoveries of silver and copper.”
Investigator has adjusted its on-going drilling program to fit the improved target model with infill drilling expected to be completed by mid-July to enable a maiden resource estimate to be completed by late in the September quarter.
The company said the revised geological setting at Paris provides further support to the idea that the larger northwest trending Alexander silver target as being associated with an offset of the same northwest vent structure.
The upgraded target model also gives further credence for favourable basal volcanic and subvolcanic setting elsewhere in the Peterlumbo field at the very large Hector silver target and associated Peterlumbo porphyry copper target.