Investigator Resources’ Hector silver target could be larger than ParisFriday, July 12th, 2013
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.”
Investigator has already received heritage approvals and hopes to start drilling at the targets and the porphyry target within a few weeks.
“To investigate the wider potential of the Peterlumbo field, this drilling will be undertaken in parallel with the pending Paris resource estimation,” Anderson added.
He noted that the calibre of the Alexander and Hector silver targets and the potential for the first porphyry copper find in South Australia are the drivers for Investigator to drill test these new targets as soon as possible.
“As first-comers to the Peterlumbo field, the Joint Venture has the opportunity to explore multiple targets from the surface down. Many other 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.” Anderson added.
The target comprises three zones; Hector East, Hector West and Hector North, that are thought to be disrupted by thin transported cover which could be concealing the true extent of mineralisation.
The cover also obscures an adjacent magnetically-defined porphyry target with copper gold potential at the centre of the new Peterlumbo silver field
Silver-in-soil values at Hector are of similar tenor to the initial Paris target signature with peak value at Hector standing at 2,065 parts per billion silver. This is the highest value achieved via soil sampling across the Eyre Penninsula, with the earlier one at Paris coming in at 1,629 ppb silver.
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.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.