Investigator Resources Upgrades Copper Target at Nankivel
THE DRILL SERGEANT: Investigator Resources (ASX: IVR) received drilling and assay results for diamond and RCP drilling carried out at the Nankivel porphyry prospect, southeast of the company’s Paris silver project in South Australia.
Investigator Resources completed four inclined diamond holes, then 20 largely inclined RCP holes.
The diamond drilling intersected strong argillic, phyllic and pyritic alteration the company deemed to warrant immediate follow-up with RCP drilling to map the lateral extensions based on a preliminary target model.
The company said that analysis of both the diamond and RCP drilling assisted with petrology and multi-element pathfinder geochemistry under consultant advice, had modified the target model from the previously interpreted preliminary high-level epithermal setting, to a shallow undrilled porphyry target extending from the advanced argillic breccia outcrop on Nankivel Hill about 2km to the southwest.
Investigator said the upgraded potential warrants renegotiation of current heritage restrictions to the revised target area.
“Our porphyry copper target interpretation has been logically modified and upgraded by the recent drilling and the application of state-of-the-art models and exploration science, including pathfinder geochemistry,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.
“The alteration haloes and geochemical signatures around porphyry copper deposits are being increasingly understood, and we now have high-integrity evidence that suggests we are within drilling reach of a potentially large porphyry copper system immediately southwest of Nankivel Hill at a depth shallower than previously projected.
“This location is currently not accessible for drilling, so our immediate priority is to review the heritage boundaries with the Native Title Holders, with whom we have worked for many years and enjoy a good relationship.
“The bulk of the revised Nankivel target is under subdued topography compared with the adjacent hill.”
Investigator considers itself to be a pioneer in identifying the potential for porphyry mineral systems on the southern Gawler Craton, and declared it will continue to apply rigorous industry-leading exploration science typically the cutting edge applied by major companies.
“This approach minimises the usual exploration risk and provides the best discovery opportunities for our shareholders,” Anderson continued.
“As Investigator continues to drill and undertake collaborative research with the State Geological Survey and universities, several lines of evidence point to a transitional relationship between the IOCG deposits of the Olympic Dam belt and the emerging porphyry systems of which Nankivel is a prime example.
“This expands the copper potential in the southern Gawler Craton where Investigator has taken a strong tenement position.”
Email: info@investres.com.au
Website: www.investres.com.au