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INVESTIGATOR RESOURCES LTD

ASX: IVR

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Description

Investigator Resources Limited (ASX code: IVR) is a metals explorer with a focus on the opportunities for greenfields silver-lead, copper-gold and nickel discoveries offered by the resurging minerals frontier of the southern Gawler Craton on South Australia’s northern Eyre Peninsula.

The Company announced a revised upward estimation for the Paris Silver Project Inferred Mineral Resource for its 2011 Paris silver discovery to 8.8Mt at 116g/t silver, containing 33Moz silver (at a 50g/t silver cut-off) in November 2015. The Company is accelerating the development pathway for the Paris silver project with infill drilling to commence in mid-September aimed at converting the Paris resource to Inferred status.

The Company has applied a consistent and innovative strategy that has developed multiple ideas and quality targets that has given Investigator first-mover status. These include the Paris silver discovery, the recognition of other epithermal fields and the associated conceptual potential for porphyry copper-gold of Olympic Dam age, along with the possibility of Archaean nickel in the underlying basement

The company is named after Matthew Flinders’ ship, ‘The Investigator’, a small former coal barque that outsailed the French in mapping the coasts of the Eyre and Yorke Peninsulas to claim South Australia for the British.

Investigator is leading an exploration resurgence on Eyre Peninsula, utilising innovative targeting techniques over its quality ground-holding (held 100% or in Joint Venture). The recent Paris Silver Project (“Paris”) discovery within the emerging Uno Province has given Investigator first mover advantage across the region, with the opportunity for the next major metal discovery in Australia. The Uno Province is offering new styles of epithermal, volcanic breccia, IOCG (iron-oxide, copper gold) and potential porphyry deposits.


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The key Investigator regional targets, for extensive exploration in 2015 are; Peterlumbo, Thurgla and the Northern Yorke Peninsula.

Peterlumbo Tenement, Eyre Peninsula - South Australia (100% IVR) Building on the Paris Silver Project, discovered in late 2011 and the subsequent maiden JORC Compliant Inferred Mineral Resource of 5.9Mt at 110g/t silver and 0.6% lead, containing 20Moz silver and 38kt lead credit (at a 30g/t silver cut-off) in October 2013, scout drilling and geophysical modelling has identified a number of silver-lead and copper-gold targets in the immediate area around Paris. The Paris resource is shallow, open-pittable and initial studies show that there is good metallurgical performance with silver recoveries in the range of 65% to 97%.

The drilling undertaken during the second half of 2014 around the Paris Silver Project continues to develop the potential and exploration understanding of the district. The recent results at the Diomedes Prospect (7km north-east of Paris) support earlier shallow scout drilling that encountered the upper levels of Paris-style geology with potential for deeper and lateral undrilled silver-lead mineralisation.

Investigator now recognise similar large target areas with silver-lead potential at Argos North and Ares North (2km to 5km north-west of Paris), along the Paris trend where drilling is yet to be undertaken.

Recent magnetic modelling of airborne data identified new multiple shallow copper-gold targets at Helen Copper, Nankivel Rim and Trojan Horse, near the Paris Silver Project. Before Christmas, 15-holes (2,937m) were drilled to depths between 120m and 294m (average depth 196m), to test current accessible targets. New assays support an upgraded target model for new copper-gold-silver targets. At the Helen prospect, another intersection supports previous copper intersections including 45m @ 0.35% copper from 27m, including 9m @ 1.14% copper and 0.31g/t gold from 60m, and 9m @ 377g/t silver (and 0.15% copper) from 132m (PPRC234) and 45m @ 0.13% copper from 39m (PPRC236). Scout drilling around the Nankivel Granodiorite Rim returned anomalous gold, lead and zinc, which support the skarn copper-gold-silver potential around the Nankivel Rim.

The updated model for the Paris-Nankivel mineral system highlighted undrilled and accessible targets for porphyry-style copper-gold at Nankivel Central, skarn copper-gold-silver at Helen Southwest and silver-gold at Nankivel West with drill testing proposed for these priority targets in the first half of calendar 2015.

Thurlga Joint Venture, East Eyre Peninsula - South Australia (IVR earning to 75%) The Thurlga tenement abuts the western side of the Peterlumbo tenement. A number of mapping field trips have been completed, with data analysis and interpretation on-going. An airborne geophysical survey has been undertaken with the interpretation of data identifying a number of exploration targets which will be folfollowed-up during the first quarter of 2015. In addition, a gravity survey will be commenced early 2015 to refine identified gravity anomalies. A first-pass soil geochemical survey will be carried out pending the results of the gravity survey which will prioritise areas for soil sampling.

Northern Yorke Peninsula IOCG Projects, Yorke Peninsula - South Australia (100% IVR) Access Agreements were finalised with the landholders at the Roundabout and Spyall Prospects in late 2014. Drilling commenced in mid-January 2015 at the Roundabout Prospect (a magnetic target) with a 341m vertical diamond hole. On completion of the Roundabout hole, a 350m diamond drill hole (at an inclination of 70° to the south) was drilled at Spyall, targeting a combined magnetic and gravity target. Drilling tested geophysical targets under 50m to 200m cover on the regional extensions to the historic Moonta copper field.

The prospective basement was intersected close to the modelled magnetic depths. With the degree of haematite veining and magnetite alteration intersected at the Spyall Prospect, it is suggested that the hole is close to a large iron oxide system. Although no strong visible copper sulphides were intersected, Investigator will undertake modern multi-element assaying of the cores to assess whether the Spyall hole hit the edge of an IOCG system. The intended assaying for both holes will guide further exploration.

Mine For

Silver, Copper, Gold

Location of operation(s)

South Australia

Address

18 King Street,
Norwood, South Australia, Australia

Phone

(61 7) 3870 0357

Email

Website


Last Updated

15/08/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.