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Investigator Resources Ltd.
Summary
| Project: | Peterlumbo | |
|---|---|---|
| Deposit: | Nankivel | |
| Location: | Australia | |
| Commodities: | Silver | |
| Date: | 11/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-11-2016: Investigator Resources Ltd. announces an Exploration/Drilling Update report for its Nankivel deposit at the Peterlumbo project. Drilling results incl. 1m @ 0.47g/t Au from 307m. Investigator Resources Managing Director, John Anderson, said “Fin | |
| Resources: | (Resource, Inf.): 8.8Mt @ 116g/t Ag for 33Moz Ag contained (50g/gt Ag cut-off) | |
| CP/QP: | [Overall Report]: John Anderson (Internal) | |
| ABSTRACT: | Investigator Resources Managing Director, John Anderson, said “Finding a mineralised porphyry system of Olympic Dam age is challenging many of our geological colleagues. It is the first large porphyry system in South Australia, and the second new deposit style we have uncovered on the northern Eyre Peninsula in the past five years, following our pioneering discovery of epithermal silver at Paris.” “Breakthroughs such as Nankivel reset the geological framework and revitalise the discovery space in which we explore. And importantly for Investigator, it puts us in the box seat as first-movers to build on the Company’s work.” Mr Anderson said the copper and gold assays in the 600m Nankivel hole, while on first impressions appear low grade, were in fact very significant when combined with the equally important petrological analysis of the hole. These confirmed the hole intersected the margin of a large porphyry system with copper and gold mineralisation in the correct alteration phase. All the right mineralising processes are evident in the hole for a porphyry copper-gold deposit to have formed nearby. This upgrades the adjacent Nankivel target that is delineated by the same low magnetic signature as the drilled mineralised zone. “We pre-empted the assay and petrological verification of the exciting Nankivel copper-gold target by already undertaking three shallow holes to obtain more 3-D information close to the first drill collar. We also initiated an IP geophysical survey, as the usual targeting method for porphyry copper gold targets, to be undertaken over the entire target area in late November. Investigator is aiming to drill the new IP targets as early as possible in 2017.” Mr Anderson added. | |
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