Investigator Resources confirms regional silver potential around Paris project
Investigator managing director Andrew McIlwain says 2022 is continuing to be an “exciting and successful exploration year” for the company.
Silver explorer Investigator Resources (ASX: IVR) has returned “encouraging” results from a regional exploration program around its Paris deposit that shows potential to expand the South Australian project’s silver resource.
In December, the company completed a regional 46-hole reverse circulation (RC) drilling program over nine distinct targets within 5km of the Paris project.
Exploration mainly focused on the Argos, Ares and Ares East targets with 30 holes drilled across these three prospects, although holes were also completed at Helen, Paris Dyke, Xanthos, Hermes, Hermes North and Centurion.
Investigator today revealed final assays of the approximate 2,500 samples from the regional program with the Argos, Ares and Paris Dyke targets delivering the most significant results.
These include 3m at 10g/t silver from 56m and 2m at 13g/t from 69m, as well as 25m at 0.33% lead and 0.3% zinc from 53m, from Argos; 1m at 96g/t silver and 0.13g/t gold from 66m at Ares; and 1m at 15g/t silver from 104m and 14m at 0.23% lead from 99m at Paris Dyke.
Mineralisation and alteration extended over a 1km trend at Argos and a strong silica/sericite alteration zone was recognised in drill chips at the Helen and Ares targets, the company reported.
Silver mineralisation near Paris
Investigator managing director Andrew McIlwain said drilling at the nine targets was designed to test exploration models with the objective of identifying mineralisation that may intersect, or vector towards additional silver-lead mineralisation near Paris.
“When capital was raised in August 2020, a commitment was made to pursue the thesis that similar mineralisation could feasibly exist within close proximity to Paris.”
“We are encouraged by the results, particularly at Ares and Argos, where we are looking for a Paris repeat along trend from Paris,” he said.
“Identification of silver mineralisation in this wide spaced reconnaissance drill program supports our optimism that the region may hosts other further silver deposits and we will embark on further drilling at Argos, Ares and Helen, as well as at Paris Dyke – which delivered encouraging results close to the existing Paris silver resource – in the next few months,” Mr McIlwain added.
The company’s follow-up drilling at Argos, Ares, Paris Dyke and Helen is due to begin in June.
Paris resource update imminent
Investigator’s Paris project, located on the Eyre Peninsula, is currently the highest grade undeveloped primary silver project in Australia with a JORC 2012 resource estimate of 9.3Mt at 139g/t silver and 0.6% lead for 42,000 ounces of contained silver and 55,000t contained lead. It is a shallow deposit considered to be amenable to open pit mining.
An updated resource estimate for Paris is due to be released “within weeks”, underpinned by extraordinary results from a recent infill drilling program including 1m at 8,210g/t silver and 15.7m at 1,084g/t silver.
A pre-feasibility study is also anticipated in July.