Investigator Resources (ASX: IVR) is exploring for iron oxide, copper, gold and uranium deposits in the southern Gawler Craton of South Australia. The majority of the company's 7,000 square kilometres of tenure is in South Australia, with tenements also in Queensland and the Northern Territory.
One of the company's key projects is the Paris silver discovery and other silver targets within the large newly recognised Peterlumbo epithermal field on north Eyre Peninsula.
Investigator Resources (ASX: IVR) has uncovered the first of the mineralised feeder structures at its Paris silver prospect which indicates a 3 to 7 metre wide vertical structure assaying over 400 grams per tonne (g/t).
Importantly, this discovery offers depth extensions for high grade silver mineralisation with increasing gold credits already evident in some of the intersections.
Final assays from recent drilling have returned high grades if up to 1,810g/t.
Highlights include 7 metres at 1,810g/t silver from 31 metres, 10 metres at 432g/t silver from 49 metres and 19 metres at 965g/t silver from 42 metres.
From the central feeder zone, notable intersections included 14 metres at greater than 427g/t silver from 97 metres.
One hole intersected gold mineralisation of 0.81g/t from within a zone of 8 metres at 710g/t silver from 90 metres.
Once again this latest drilling program has produced a number of very high silver grades up to 7,365g/t silver that required several cycles of repeat assaying.
In February, Investigator delivered an impressive silver intersection of up to 2.25% silver.
John Anderson, managing director, said the discovery of the central feeder zone was an exciting addition to the large Paris silver prospect with considerable exploration potential remaining to be drill tested.
“The recent inclined drilling intersected the central feeder structure largely missed by the initial vertical aircore drilling that otherwise made many silver hits in the flatter manto-style mineralisation.
“Although we are starting to find the limits to the high grade pods in the flat overlying sheet structures, Investigator is moving the Paris prospect to a new level with the recognition of the first of the mineralised feeder structures that we predicted to underlie a large epithermal system like Paris.”
Another round of exploration drilling is now required to test the enlarged potential of the undrilled lateral extensions to the flat-lying zones and depth extensions to the feeder zones, and to improve the understanding of the structural controls.
Investigator is now anticipating an initial resource for Paris in December 2012.
Eyre Peninsula – Emerging Mining Province
The Paris prospect lies adjacent to a new mining operation about 50 kilometres away on the Eyre Peninsula in South Australia.
“The Eyre Peninsula has got a lot of potential and that’s starting to be realised,” Anderson told Proactive Investors previously. “It’s in an emerging mining province in South Australia.”
Paris is situated around 17 kilometres from the township of Kimba and the Eyre Highway, and about 200 kilometres from heavy engineering facilities in Whyalla and Port Augusta.
Interestingly, the prospect is also located around 250 kilometres southwest of BHP Billiton's (ASX: BHP) Olympic Dam operation and about 350 kilometres south of OZ Minerals' (ASX: OZL) Prominent Hill mine.
Strong market support
Investigator is capturing market attention and has been on an upwards share trajectory since announcing further high grade silver intersections, including the impressive 1 metre at 22,500g/t from 66 metres, in February.
Shares were trading at around A$0.19 in early February and hit highs of $0.42 at the beginning of March, marking a 121% increase.
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