Half Yearly Report and Accounts
The main activities during the half year included:
- Paris silver project - The Paris Pre-Feasibility Study ('PFS') is progressing with positive groundwater source and comminution results to date. A flotation/leach Metallurgical study is nearing completion with results due later in the March 2018 quarter. Preliminary high-level open-pit optimisation for the 2017 upgraded mineral resource has been undertaken.
A Paris silver expansion program with twenty five RCP holes completed for 2,688m in December aiming to find additional resources to build the 42Moz Paris resource. Induced Polarisation ("ÏP") surveying of satellite silver prospects commenced in December 2017 with February 2018 completion ahead of scheduled drill follow-up in March-April.
- Nankivel copper-gold prospect - Following the final heritage approvals received in mid-December 2017, the drill testing of the large Trojan IP geophysical target was undertaken in mid-February 2018. Three 400m-spaced reverse circulation percussion ('RCP') holes drilled to test the large Trojan IP target intersected pyritic metasediments without visible copper sulphide. The pyritic metasediment is interpreted as the southern pyritic halo to the .Nankivel porphyry system. Hence the location of a central copperprospective zone is revised and a joint venture partner will be sought to fund further exploration at the large target area.
- Maslins IOCG copper-gold target - The Company will participate in a regional magneto-telluric survey to cover the Maslins iron oxide copper gold target. Results will advance the understanding of the Maslins target and assist towards a decision to drill test the target during 2018.
- Cartarpo copper-cobalt-REE Target - The 100% held, Cartarpo tenement (EL5999) located 175km north of Adelaide, was granted to the Company in early August 2017. The results of a field visit and sampling undertaken in November 2017 at the Cartarpo Project recognised metals that point to a new deposit style in the corridor that is more akin to alkalic or carbonatite/kimberlitic intrusions. The Company considers the potential of the Cartarpo tenement is significantly raised by the verification of high cobalt grades and the new identification of rare earth elements at the historic Cartarpo copper mine.
- Thurlga joint venture - Having earned a 75% interest in the Thurlga tenement (EL 5419) during the year ended 30 June 2017, Gawler Resources Limited, a wholly owned subsidiary of the Company, is the manager of the Joint Venture. A twelve month JV program was prepared for 2017/18 that also countenances infilling the Wide and Ironstone/Ironstone North silver targets with more detailed soil geochemical sampling following the promising 2017 drill results. Further drilling is contingent of the soil results.
- Other Regional Eyre Peninsula Projects - There has been limited activity on the other Regional Eyre Peninsula Projects, whilst the focus has been on other priority projects. During the reporting period Investigator's new applications for Coopers Hill, Yantanabie and West Pennas, were approved by the Minister.
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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