Investigator Resources Ltd (ASX:IVR) Annual Report to Shareholders
27.10.2017 | ABN Newswire
Adelaide, Australia (ABN Newswire) - Investigator Resources Ltd. (ASX:IVR) provides the Company's Annual Report to shareholders.Key 2017 Results
After raising A$5.4million in July 2016, Investigator Resources Ltd. had a successful 2016/17 financial year advancing the development of the Paris silver project and the adjacent Nankivel copper-gold prospect in the southern Gawler Craton. The Company completed an active program comprising 13,180 m of drilling and 21 line kilometres of ground geophysical surveying. An ongoing research-based exploration approach continued to support and improve the geological understanding of the Paris silver project and to expand the discovery space nearby and regionally. The year also saw a changeover of Chairman with the retirement of Roger Marshall OBE and the appointment of David Ransom.
Paris Silver Project
Infill resource drilling (6,510m):
- Upgraded the Mineral Resource estimation to 42million ounces of contained silver at a higher average grade of 139g/t silver with an open-pit scenario.
- Increased confidence in the geology and high-grade components of the mineralisation.
- Indicated higher grades and ounces were likely with further infill drilling.
Pre-feasibility Study:
- Advanced metallurgical study delayed until late 2017 by the better characterisation of geometallurgical domains with multi-element drill geochemistry.
- Six test holes completed for hydrological study of nominated water sources and pit profile.
Nankivel Copper-Gold Prospect
Drilling (5,058m) and Induced Polarisation (IP) surveying confirmed:
- A porphyry system of likely Olympic Dam age.
- Classic porphyry zoning of alteration mineralogy vectors towards an interpreted undrilled copper-gold prospective centre.
- A coincident Trojan Induced Polarisation ('IP') chargeability anomaly offers a large 2km by 500m and shallow porphyry copper-gold target.
Multiple other porphyry-style targets are interpreted within the Nankivel intrusive complex.
Satellite Silver Targets
The remainder of the year's drilling was applied to initial testing of new silver targets near Paris:
- Ares target confirmed to have a breccia host and prospective mineralisation similar to Paris.
- Two silver targets confirmed in Thurlga joint venture with Investigator earning 75% equity.
- Extensive graphite potential was also identified at Thurlga.
Research
On-going Company and collaborative research developed new ideas and techniques that benefited our targeting work around Paris and Nankivel and for new prospective mineral systems within the region.
- R&D tax concessions and State Government drill funding assistance totalled A$1,040,000.
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About Investigator Resources Ltd:
Investigator Resources Ltd. (ASX:IVR) is a metals explorer with a focus on the opportunities for greenfields silver-lead, copper-gold and nickel discoveries offered by the emerging minerals frontier of the southern Gawler Craton on South Australia’s northern Eyre Peninsula.
Source:
Investigator Resources Ltd.
Contact:
Mr John Anderson Managing Director Investigator Resources Ltd. E: info@investres.com.au T: +61-8-7325-2222 Mr Peter Taylor Investor Relations NWR Communications E: peter@nwrcommunications.com.au T: +61-41-203-6231