Investigator Resources' high grade Paris silver discovery keeps getting better

Investigator Resources (ASX: IVR) has unfurled further new high grade intersections of up to 29 ounces per tonne of silver at its Paris discovery in South Australia from next stage drill results.

Shallow intersections in new Paris Northeast target are consistently high grade within 300 metres long and open trend with one best intersection of 4 metres at 913g/t silver from 72m to bottom of hole.

The latest assay results indicate the Paris Prospect must rank as an outstanding silver discovery with continued high grade results and the widespread silver intersections have identified two new mineralised targets – one in the northeast and the other in the southeast of the prospect.

The balance of assays for last 29 shallow holes drilled in July significantly expands the size, number and calibre of silver targets within the Paris Prospect

The prospect is located within the Peterlumbo JV on Eyre Peninsula in South Australia.

Highlights from vertical drilling on nominal 50 metres by 100 metres pattern include:

New Paris Northeast Primary Target (Four effective drill tests below spaced at 100 metres)

- 4 metres at 913 g/t Ag (silver) from 72 metres to BOH (bottom of hole) in fresh bedrock;
- 3 metres at 554g/t Ag from 90 metres to BOH in brown pyritic clay; and
- 12 metres at 211g/t Ag from 60 metres.

Extension to initial Secondary Lead Spine Target

- 19 metres at 119g/t Ag from 57m to BOH including 9 metres at 202g/t Ag from 60m;
- 51 metres at 35g/t Ag from 6 metres including 12 metres at 7.0% Pb (lead); and
– 9 metres at 73g/t Ag from 27m to BOH.

New Paris Southeast Primary Target

- 6 metres at 170g/t Ag 3.3% Pb 0.33g/t Au (gold) from 42 metres;
- 24 metres at 3.2% Pb from 12 metres; and
- 23 metres at 60g/t Ag from 39 metres to BOH including 3 metres at 360g/t Ag from 39 metres.

John Anderson, Investigator Resources managing director, said "the silver intersections at the new Paris Northeast target were consistently high grade with the best of 913g/t over 4 metres to the bottom of a hole in fresh sulphide bedrock, compared with the previous highest grade result of 252g/t over 12 metres in the overlying supergene zone, announced on August 18."

“At about 31 grams to the troy ounce, we are now talking multiple ounces per tonne in some of these intersections at a time of strengthening silver prices.”

The breakthrough with the highest grade intersection in fresh sulphide bedrock, confirms abundant depth potential beneath prior intersections in weathered supergene zone.

The company said fine visible dark sulphides intermixed with pyrite and quartz in primary zone are likely silver minerals.

600 metres of strongly silver-mineralised strike length has been identified to date with lateral extensions open for further drill testing to the north, east and west as well as at depth.

The prospect is the most advanced of five priority targets within the newly-recognised Peterlumbo epithermal field, located about 400km northwest of Adelaide.

The increased tenor and consistency of the new Northeast intersections, particularly the high grade intersection in fresh bedrock, have significantly upgraded the Paris discovery.

Near surface discovery

All Investigator's drilling and intersections are within 120 metres of the surface. As the high grade intersections get deeper to the east, the soil signature at the surface that defined the company's original target envelope becomes weaker.

This means Investigator's target envelope has expanded with both its primary targets being open to the east as well as at depth along a combine strike length of at least 600 metres.

The project area is subject to the Peterlumbo Joint Venture between IVR (holding 75% and Manager) and Mega Hindmarsh Pty Ltd (25% interest).

The Paris Prospect has advanced at every stage of exploration with the latest drill assays providing the most significant upgrade thus far.

Abundant drilling opportunities are identified around and beneath the prospect to build on the outstanding early results.

The Paris Northeast and Southeast targets are open at depth and to the east with a combine strike length of at least 600m, with the targets also open to the north and south respectively.

A larger drill rig is being sought to test the deeper extensions with early diamond coring also proposed to obtain quantitative structural data.

Further drilling of the lateral extensions with aircore/slimline hammer is also warranted.

The shallow depths of the secondary mineralisation and high-grade primary intersections to date provide potential advantages for open-pit and bulk mining if further drilling establishes a resource at the Paris Prospect.

John Anderson, managing director, told Proactive Investors today "the Paris discovery opens up the potential of the Eyre Peninsula where IVR has backed its ideas and approach with a dominant tenement position.

"Recognising a large epithermal field at Peterlumbo and the application of regional soil geochemistry led us to the Paris discovery with another four similar targets waiting to be tested within 10km of Paris.

"IVR has at least another three target areas defined by the regional soil geochemistry across a 150km belt as possible mineralisation centres like Peterlumbo – not only for silver but copper and gold as well."

Analysis

The results to date from Paris Prospect are an extraordinary start for Investigator given the high grade, and the widespread silver intersections.  The potential to define a resource and fast track and potentially develop an open pittable mine must be considered very good.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19217/investigator-resources-high-grade-paris-silver-discovery-keeps-getting-better--19217.html