Adelaide-based Investigator Resources (ASX: IVR) has released positive news this week, saying “outstanding” silver grades have been uncovered at its Apollo prospect.
The company is awaiting assays from 52 holes, but has received results from two that were fast-tracked based on field observations.
Investigator managing director Andrew McIlwain said the company was pleased with the “strong mineralisation” identified in these initial assays.
Notable intercepts were 7m at 700 grams per tonne silver from 150m, and 4m at 1,170g/t silver.
“The result reported today represents the highest-grade silver intersection ever identified outside of the Paris deposit in our exploration efforts, and demonstrates that there remains significant potential for the discovery of additional silver resources proximal to Paris,” he said.
The regional exploration program was completed in April 2022 and comprised 7,600m of drilling – focusing on six prospects across the Peterlumbo tenement that houses the wider Paris silver project in South Australia.
Apollo is located about 4km northwest of Paris, within a prospective structural corridor “identified by gravity and magnetic features”.
Drilling of holes PPRC825 and PPRC826 was designed to test further along the north-easterly extension of the interpreted structural lineament.
Field observations samples from the two holes at the Apollo prospect were fast-tracked through the laboratory for assay, with the remaining 52 holes still to be assessed.
During the drilling process, a field portable x-ray fluorescence unit (pXRF) was used to spot test samples, helping to “determine mineralogy and possible mineralisation”.
The pXRF aided in identifying significant silver in PPRC826, which returned the 4m interval grading 1,170g/t silver.
The company believes the mineralisation within hole PPRC826 may have a stronger association with the quartz carbonate veining discovered both within the high-grade interval and the broader low grade silver halo of this hole and adjacent hole PPRC825.
“When first logged, the mineralised interval did not exhibit obvious signs of mineralisation other than an increase in quartz carbonate veining and a slight increase in pyrite content,” Mr McIlwain explained.
As a diamond drill rig currently drills geotechnical holes at Paris, plans have been made to drill an additional hole at Apollo, which is expected to provide valuable structural information on the “orientation and potential controls of mineralisation”.
Paris has a current resource of 18.8Mt at 88g/t silver for 53.1Moz at a 30g/t cut-off.