Native title agreements open up more exploration potential for Investigator Resources
Investigator Resources is already preparing or undertaking work programs to define drill targets across the newly unlocked tenements.
Investigator Resources (ASX: IVR) will be eyeing new exploration opportunities across its South Australian tenements next year after securing Native Title Mining Agreements (NTMA) covering more than 1,200 square kilometres of land.
The two separate NTMAs were recently finalised and allow Investigator to undertake advanced exploration over a further 1,200sq km of tenements including drilling.
Six of the tenements covered under the agreements are within the Southern Gawler and Stuart Shelf regions of South Australia, while another three tenements are within the Curnamona Province.
The agreements have now been registered with South Australia’s Department for Energy and Mining.
Investigator managing director Andrew McIlwain said securing the NTMAs was a key component in being able to deliver successful exploration outcomes within South Australia.
“The NTMA agreement with the Gawler Ranges Aboriginal Corporation builds on the strong relationship we have and includes six tenements within the region proximal to our flagship Paris silver deposit, and within recently granted tenements within the Stuart Shelf that are 100% owned by Investigator,” Mr McIlwain said.
He added the company was “thrilled” to lock-in the other agreement with the Wilyakali Native Title Group, which will allow exploration for copper and gold in the Curnamona Province.
Next steps across new ground
Mr McIlwain said while the NTMAs were under negotiation, a review of available data and prospectivity models were completed for the Stuart Shelf tenements.
Work programs were also planned to undertake initial soil and mapping programs across the Southern Gawler ground.
Over at the Curnamona Province tenements soil sampling and mapping was recently completed. A drone supported aeromagnetic survey is also underway.
Data from these programs will assist in refining initial drill targets.
South Australian exploration activities
Investigator holds more than 8,500sq km of tenements across South Australia.
The company’s focus is its wholly-owned Paris project which is on South Australia’s Eyre Peninsula.
Paris is believed to host highest-grade undeveloped primary silver deposit in Australia with a current resource of 18.8 million tonnes at 88 grams per tonne silver, and 0.52% lead for 53.1 million ounces of silver and 97,600t lead.
A resource expansion program is underway at the project and will feed into a definitive feasibility.
Investigator raised $4.2 million earlier this month to fund exploration at Paris and its other priority targets including the recently acquired Molyhil tungsten project.