Investigator Resources' Hector silver target could be larger than Paris
Investigator Resources (ASX:IVR) has found a silver target larger than its flagship Paris project on the Eyre Peninsula based on peak silver-in-soil values that exceed Paris and a larger geochemical signature.
Paris itself,
is being drilled towards a maiden silver resource, but Hector appears to be
more promising that Paris,
based on the infill soil geochemical program confirming the potential.
The Hector target area, 15 kilometres east of Paris is interpreted to be at
least 5 kilometres by 7 kilometres in area compared with the 1.2 kilometres by
400 metre size of the Paris geochemical signature.
Cashed up Investigator had $12.5 million in the bank at
March quarter and while this would have depleted, Investigator has alot to show
for it from exploration.
The Paris
project and the surrounding silver and copper targets are part of the
Peterlumbo Joint Venture tenement, where Investigator holds a 75% interest.
The Hector target adjoins the covered Peterlumbo porphyry copper gold target
and will be drilled along with the priority Alexander silver target about 2
kilometres west of Paris.
Investigator
Resources' Managing Director John Anderson said: “Hector joins Alexander as high-priority “Paris-Plus“
silver targets waiting for drill testing."
Analysis
The confirmation of higher in-soil silver values at Hector boosts the potential
and prospectivity of its Peterlumbo joint venture project.
Eerily, the potential of the Peterlumbo field appears not to
have been scratched as there are additional silver targets plus a porphyry
target that will see drilling within a few weeks, in tandem with the Paris maiden resource
estimate.
There are additional smaller but substantial silver and copper soil targets
like Helen East and Diomedes plus magnetic skarn targets in the mooted porphyry
setting await testing beyond the current round of larger priority targets at
Alexander and Hector.
Drill testing Drill testing of the larger Alexander and Hector silver soil
targets should provide more on the potential scope of the Peterlumbo silver
field to build on the Paris
project.
Investigator brims with catalysts and milestones for the Paris/Peterlumbo
project:
- Maiden Resource September 2013
- Drill Alexander & Hector July - September 2013
Estimated completion dates
- Scoping Study Early 2014
- Metallurgical Studies Mid 2014
- Water Studies Mid 2014
- Feasibility Study Late 2014
These are all value accretive milestones for Investigator. There is also
a strong shareholder base including CITIC Australia with 19.99% and Acorn
Capital with 5.03% of total shares.
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