Investigator Resources upgrades Paris silver Resource
THE DRILL SERGEANT: Investigator Resources (ASX: IVR) has released a revised upward estimation for the Inferred Mineral Resources at the Paris silver project, located within the company’s 100 per cent-held Peterlumbo tenement on the northern Eyre Peninsula of South Australia.
The upgraded Inferred Mineral Resource for the Paris silver project has come in at 8.8 million tonnes at 116 grams per tonne silver, comprising 33 million ounces of contained silver.
The JORC Code-compliant Mineral Resource estimate is reported using a silver cut-off grade of 50g/t and was constrained above the 25mRL (equivalent to about 160m below the surface).
This compares with the 2013 maiden Inferred Mineral Resource of 5.9 million tonnes at 110g/t silver, containing 20 million ounces at a 30g/t silver cut-off.
The revised Inferred Mineral Resource was independently prepared by H & S Consulting using the Multiple Indicator Kriging method, which Investigator indicated is suitable for the complex mineralisation style of the Paris silver deposit as the company considers the dominant soft host rock and shallow depth of the Paris deposit offers potential for an open-pit operation.
H&SC have modelled and classified the resource in accordance with that assumption.
“Investigator is delighted with the outcome of the revised resource estimate for the Paris silver deposit,” Investigator Resources managing director John Anderson said in the company’s announcement to the Australian Securities Exchange.
“This shows a 60 per cent increase in silver ounces with a slight uptick in the already robust grade.
“The upgrade was made possible firstly by adding some of the northern extensions drilled after the maiden resource in 2013, but primarily through the increased confidence in the geological model.
“This enabled the fresh geostatistical approach to better model the mineralisation for the high-grade zones and the margins, while not imposing any preconception about pit designs.
“The Paris silver mineralisation is irregularly distributed between the surface and about 160 metres depth within a flat elongate clay-altered breccia body that extends over nearly 1.5 kilometres in length.
“Understanding of the highly variable distribution of the mineralisation, typical for this style of deposit, benefited from the application of the more sophisticated MIK modelling technique that is well accepted by the industry.
“The resource upgrade, along with the positive metallurgical test work undertaken subsequent to the 2013 maiden resource, strengthens the value of the company’s key asset.
“Investigator is scoping the work program needed to convert Paris to an Indicated Mineral Resource, with only a modest drill program likely to be required in the first instance.”
Email: info@investres.com.au
Website: www.investres.com.au