Investigator Silver Hits High-Grade Intersections Beyond Paris Project DFS Pit Margin

Investigator Silver (ASX: IVR) has returned high-grade silver intersections outside the current definitive feasibility study (DFS) pit margin at its 100%-owned Paris silver project in South Australia, reinforcing the potential to expand the available mining inventory.

Initial results from the 2026 reverse circulation drilling program included several strong intersections at Paris East and Paris North, with one Paris East interval returning 4 metres at 5,448 grams per tonne silver from 78m, including 1m at 13,302g/t silver.

Investigator is targeting growth around the margins of the current Paris deposit while also testing district-scale opportunities along the broader Paris Silver Corridor, where regional work has identified a new silver-bearing epithermal system at Theseus.

The Paris project currently has a resource of 24 million tonnes at 73g/t silver and 0.41% lead containing 57 million ounces of silver and 99,000t of lead, alongside an ore reserve of 12Mt at 88g/t silver containing 33Moz.

Assays remain outstanding from parts of the current program, including Paris West and sections of Paris East, while a further approximately 30,000m drilling program is scheduled to begin at Paris in September.

Paris Margins Growth Potential

RC drilling at Paris East was designed to test extensions beyond the current DFS pit optimisation, where Investigator confirmed altered volcanic breccias and basement sequences continuing east and recorded several shallow high-grade intersections from the partial assays received so far.

Paris North was revisited after broader-spaced historical drilling more than 10 years ago had returned silver grades considered too low for follow-up at the time, with the latest work aimed at establishing whether closer-spaced drilling can demonstrate stronger grade continuity.

Results there included a 2m interval at 4,211g/t silver from 111m and a broader 9m intersection at 110g/t silver from 81m, while drilling at Paris Deeps also encountered silver mineralisation beneath the DFS pit outline.

“The high-grade results at Paris North and Paris East are an encouraging outcome from this phase of drilling [that] reinforce the quality of the mineralised system around the existing Paris deposit, and provide clear opportunities for growth of the Paris silver inventory with appropriate followup drilling,” managing director Lachlan Wallace said.

“The magnitude of a number of significant assays in this program outside of the existing pit optimisation demonstrates significant upside potential around the existing deposit and may increase the available mining inventory beyond the DFS released to the market on 27 February 2026.”

New Theseus System Emerging

Investigator has also identified Theseus about 7.5km southeast of Paris after sampling preserved diamond core drilled for uranium exploration in 2007 that had never previously been cut or assayed for silver.

Re-logging showed numerous cross-cutting veins with fluorite, galena and sphalerite infill together with alteration considered typical of epithermal silver-lead-zinc systems, while first-time assays returned multiple silver-bearing intervals throughout the shallow hole.

The historical hole ended at 57.6m while still within the mineralised system, and no drilling has been completed in the broad vicinity, leaving Investigator with an untested regional target within the Paris Silver Corridor.

The company plans further infill and expansion drilling around Paris, with closer-spaced work intended to improve grade continuity and geological confidence ahead of potential future resource estimation, while additional regional results from Manto and Helen remain largely outstanding.

Mr Wallace said the Theseus result “reinforces our view of the prospectivity of the Paris exploration corridor and the potential to add significant value with discovery success.”