Investigator Resources pushes ahead with drilling as Paris silver DFS in sight
Investigator Resources expects assays this quarter from drilling completed at Uno Range, Morgans and Peterlumbo.
Open pit drilling will go ahead in the current quarter as Investigator Resources (ASX: IVR) puts in a program of work for the definitive feasibility study for its Paris silver project in South Australia.
The Paris ground is located in pastoral country on South Australia’s Eyre Peninsula, 70km north of the rural town of Kimba.
The new work program will now proceed after being delayed by regional flooding.
The geotechnical drilling at the site of the planned open pit will be in addition to investigations of sustainable water resources to be used in the proposed processing plant.
New areas at the project will also be drilled in the June quarter as Investigator works to increase its existing resource estimate of 18.8 million tonnes at 88 grams per tonne silver and 0.52% lead, for a contained 53.1 million ounces of silver and 97,600tof lead.
Drilling at Peterlumbo after positive indicators
In the three months to 31 March, Investigator completed drilling at the Umo Range and Morgans tenements with a total of 27 holes (3,300m) completed to target six prospects for gold, silver and base metals (including copper).
Umo Range and Morgans (along with the company’s Harris Bluff tenement), are located about 60km east of Paris.
The tenements have similar geology to that at Paris and Peterlumbo and are regarded by the company as prospective for precious and base metals.
All assay results expected in this quarter
Drilling is currently underway at another tenement, Peterlumbo, where 51 holes are planned totalling 6,750m.
Six prospects at that tenement are situated proximal to the Paris resource and will be drilled including Ares (15 holes) and Apollo where 21 holes are planned to test geochemical and geophysical features.
Work will also be proceeding at the Helen prospect using modelling based on 2020 and 2021 drilling.
Assay results from Umo Range, Morgans and Peterlumbo are all expected to be released in the current quarter.
Investigator had $7.64 million in cash as at 31 March.