Investigator Resources Ltd (ASX:IVR) is pleased to announce the new high-grade silver intercepts are going to support resource upgrade and scoping study at Investigator's Paris Project in South Australia.
- High-grade shallow silver intersections reported across central Paris from detailed drilling (of 20% of resource area) completed late in 2016.
- All of the 50 vertical RCP holes reported assays greater than 30g/t silver;
- 52m @ 468g/t silver from 10m (PPRC416)
- 10m @ 2,708g/t silver from 118m (PPRC368)
- 17m @ 502g/t silver from 81m (PPRC378)
- 8m @ 561g/t silver from 49m (PPRC394)
- New results support the aim of upgrading the Inferred Paris Mineral Resource estimate (33Moz silver; 8.8Mt @ 116g/t silver; 50g/t silver lower cut-off).
- Assays awaited for additional six diamond twins of RCP holes to provide further assessments, expected in late-January.
- Revised Paris silver resource estimate expected during the first Quarter of 2017.
- Samples from the recent drilling will be used for metallurgical testing as part of the Paris scoping study, expected to be completed by mid-2017.
Investigator Resources Managing Director, John Anderson commented, "The strong results of the infill drilling add confidence in the range and extent of high silver grades for the Paris project. The closer-spaced drilling is also encouragingly supporting our understanding of the geological framework, geometry and scope of the silver mineralisation.
We look forward to incorporating the new results into the forthcoming re-estimate of the silver resource at Paris ahead of scoping studies later in the year."
An infill drill program was undertaken in late 2016 on the selected central area of the shallow Paris silver Mineral Resource (see Figure 1 in the link below) held 100% by Investigator Resources.
The objectives of this infill drilling program were to verify the prior geological model and determine the extent of the grade continuity in the previous scattered high-grade silver intersections within the central area of the resource. The ultimate aims are to upgrade the Mineral Resource estimate to Indicated status to enable project studies to proceed. The Paris Inferred Mineral Resource (JORC 2012) was revised in late 2015 to 8.8 million tonnes at 116g/t silver for 33 million ounces of contained silver (at a 50g/t silver cut-off).
Infill drilling was completed in late November 2016 within a 375m by 200m central area between Lines 6 and 8. This area of infill drilling represents about 20% of the resource area (see Figure 1 in the link below).
A total of 50 vertical Reverse Circulation Percussion ("RCP") holes (PPRC364 - 398 and PPRC406 - 420) were completed for a total of 5,862m, with depths of between 60m and 150m (average depth 117m - see Table A in the link below). In addition, six vertical diamond twin holes (PPDH148 - 153) were drilled for a total of 648m, with depths of between 68m and 129m (average depth 108m).
The infill drilling program was designed to achieve a nominal 25m by 25m pattern, locally adjusted to minimise vegetation disturbance, within the prior drill pattern for the infill area (see Figure 2 in the link below).
The infill RCP and diamond twin drilling was undertaken with due care and a focus on sample recovery. All RCP holes were sampled at one metre intervals and the diamond core was sampled on nominal one metre intervals with adjustments for lithological/mineralisation boundaries.
The final RCP assays including the extended additional assaying for over-range assays for many holes were received on 23 December 2016.
The diamond twin core assays are still pending.
Infill drill results
All the intersections of greater than 30g/t silver achieved by the RCP drill holes are listed in Table B (in the link below). The most significant intersections are indicated on the drill map of Figure 2 (see the link below).
Refer to Appendix 1 for 'TABLE 1 (in the link below): Paris Silver Project, Reverse Circulation Drilling Results Reporting November 2016 - JORC 2012', information relating to the compliance of the 2012 edition of the JORC Code. This includes Section 1 - sampling Techniques and Data and Section 2 - Reporting of Exploration Results.
The infill drill holes intersected the hosts of polymict breccia and upper altered dolomite at the expected positions across the infill drill area. The silver intersections are in consistent flat-lying tabular layers at 10m to 120m depth within the polymict breccia and altered dolomite (e.g. Figure 3 in the link below).
Cross-cutting faults and dacite dykes are interpreted as mineral conduits that influence the distribution of higher grade silver zones (Figures 2 & 3 in the link below).
The large number and widespread distribution of high-grade and broad silver intersections (see Figure 2 in the link below) support the prior intersections in previous wider-spaced drilling. These also provide increased confidence in the likely upgrade of the Paris silver Mineral Resource.
Work continues on quality assurance /control for the RCP drill assays. This will be complimented by the awaited assays for the diamond twin holes expected by mid-January.
Detailed assessment of the geology intersected in each of the RCP and diamond holes is on-going including iterative comparison with the new assays. One aspect particularly receiving attention is the possibility of further structural controls on the silver mineralisation within the deposit to explain the widespread distribution of high-grade silver intersections in the infill drilling.
A re-estimation of the Paris silver resource is anticipated during the first Quarter of 2017.
Bulk samples of the RCP drilling have been collected and preserved for further metallurgical testwork commencing later in the March 2017 quarter.
To view tables and figures, please visit:
About Investigator Resources Ltd
The Company's priority is progressing the development pathway for the Paris silver project with the preparation of a pre-feasibility study. The Paris Mineral Resource Estimate is 9.3Mt @ 139g/t silver and 0.6% lead, comprising 42Moz of contained silver and 55kt of contained lead, at a 50g/t silver cut-off. The resource has been categorised with an Indicated Resource estimate of 4.3Mt @ 163g/t silver and 0.6% lead for 23Moz contained silver and 26kt contained lead, and an Inferred Resource: 5.0Mt @ 119g/t silver and 0.6% lead for 19Moz contained silver and 29kt contained lead.
The Company has applied an innovative strategy that has developed multiple ideas and targets giving Investigator first-mover status. These include: the Paris silver discovery; recognition of other epithermal fields and the associated potential for porphyry copper-gold of Olympic Dam age; extending the ideas developed at Paris-Nankivel and using breakthrough government Magneto-Telluric surveying to rejuvenate targeting with the Maslins IOCG target as the next priority drill target.
Investigator Resources Ltd