Quarterly Activities Report
HIGHLIGHTS: Additional funding to strengthen the Paris Silver Project and expand the surrounding silver and copper-gold potential
Capital Raising - Raised A$2.4million (gross proceeds):
- Oversubscribed Placement takes cash position to approximately A$4.2million.
- An offer to Eligible Shareholders via an SPP to raise up to an additional A$1.0million on equivalent terms as the Placement.
- Funds to be used to explore Paris extensions and surrounding targets with the aim of establishing a larger resource base for IVR becoming a high-grade silver producer.
Paris Silver Project - Paris Pre-Feasibility Study ('PFS') in progress:
- Advanced metallurgical work commenced on composited representative drill samples after geochemical classification of geometallurgical domains within the deposit.
- Hydrological study of a potential water supply is in progress.
- Induced Polarisation ('IP') geophysics and 5,000m of drilling planned to test Paris extensions/surrounds under improved target model.
- PFS extended into 2018 to take account of the opportunity for a larger resource and robust metallurgical model.
Nankivel copper-gold prospects near Paris - Additional targets identified:
- New mapping enhances and adds large porphyry targets.
- Heritage survey underway to gain drill access to initial Trojan IP porphyry target.
- Further drilling and extended IP surveying proposed subject to securing a Joint Venture partner.
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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