Investigator Resources (ASX:IVR) is conducting a 3,800m drilling program across seven targets proximal to the Paris Silver Project in South Australia.
The drilling program will follow-up on “positive” outcomes from the extensive exploration program of soil sampling, gravity, passive seismic and drilling conducted in March this year.
Managing Director Andrew Mcllwain says the exploration program completed in March saw a large investment in data acquisition from multiple techniques.
“These included an infill gravity survey, passive seismic techniques, extensive soil sampling and trialling of a reconnaissance aircore drill program aimed at rapid and efficient vectoring towards potential mineralisation surrounding the Paris deposit,” Mcllwain says.
Investigator Resources, which has a market capitalisation of $64.93 million, will be following up on the Perseus discovery hole of 1m @ 71 grams per tonne silver and 0.6% lead from 38m, using an aircore drill rig.
At Perseus, drilling will comprise 22 holes and will follow-up on the single result. Further holes are planned with the aim of testing various features uncovered in the gravity data and a historic electromagnetic survey line proximal to this target.
Investigator will also drill three holes at the Ares prospect to test a step-out from previously conducted drilling within the area. Drilling will also test an area of potential uplift of interpreted dolomites coincident with an historic induced polarisation anomaly.
At the Manto prospect, three holes are planned to follow-up on the drilling conducted in March, to assess lateral and depth potential for mineralisation.
Meanwhile, at the Diomedes prospect, six holes are planned to test for the extent of prospective lithologies and presence of mineralisation in the region. Drilling will also target additional structural complexity, including areas of fault uplift proximal to the regionally extensive Uno fault.
A select number of holes will test a high temperature illite clay alteration zone uncovered in recent reprocessing of hyperspectral data. A small number of aircore reconnaissance holes are also planned to test features within the newly acquired gravity data to further support regional geological interpretation.
Mcllwain adds that there are advantages to identifying further economic mineralisation proximal to Paris, the most obvious being the potential to extend mine life and improve the project’s financial metrics.
“We have a long-held view that Paris is not the only deposit within the region and our efforts are starting to show progress,” he says.
“In conjunction with the exploration drilling program and in preparation for the Paris mining lease application, additional hydrological observation wells will be drilled across Paris and Hector, as well as extending the previous Tromino passive seismic survey in the context of further constraining the hydrology of the area.
“This work has been designed following feedback from state regulators on the hydrological modelling undertaken to date and is aimed to eliminate areas of potential concern during the approvals process.”
At Paris, a series of aircore holes are planned across various locations and specifically at the edges of the Paris hydrological model. These holes will allow water table head levels to be determined and will be established as permanent monitoring wells.
Investigator notes another monitoring well will be established within the southern Paris pit, with pump testing to provide additional hydrological information, which will further support the existing modelling.
At Hector, the company says that while hydrological modelling for the Definitive Feasibility Study shows that sufficient water is available for use in processing, discussions with DEM identified that more supporting data would be required in the regulatory assessment. This includes the paleo-channel dimensions and regional water table.
To address the issues raised, Investigator will conduct a tromino passive seismic survey, aircore well drilling, and drill monitoring wells.
Investigator Resources is a silver-lead and copper-gold explorer focused on the Paris Silver Project which has a resource of 24 million tonnes @ 73 grams per tonne silver and 0.41% lead for 57 million ounces of silver and 99,000 tonnes of lead.
Write to Aaliyah Rogan at Mining.com.au
Images: Investigator Resources
