The Investigator Resources Ltd (ASX: IVR) share price is on the move today, up 1.5% in early trade but now trading 1.2% lower at 8.2 cents.
We take a look at the ASX resource share's latest silver drill results.
Image source: Getty Images
What did Investigator Resources report?
The Investigator Resources share price is slipping this morning despite the company reported promising new silver assay results at its 100% owned Paris Silver Project, located in South Australia.
The latest results come from a 20,500-metre infill drilling campaign completed in December.
Topping the high-grade results was 1 metre at 8,210 grams of silver per tonne from 61 metres.
Investigator Resources said other significant results included:
– 19m @ 561g/t silver from 55m in hole PPRC657 (on Line -0.25); including
- 8m @ 1,240g/t silver from 59m; including
– 19m @ 227g/t silver from 96m in hole PPRC678 (on Line -0.5); including
- 14m @ 290g/t silver from 96m
The company said these results support the silver grade and mineralisation extension from previous exploration assays, with the potential for mineralisation extension to the east and west.
What did management say?
Commenting on the drill results, Investigator's managing director Andrew McIlwain said:
Reporting the highest-grade intersection of the 2020 infill drill program in Line -0.25 is really encouraging as we are still seeing significant mineralisation in the southern most line of drilling completed in this program, a further 25m south in Line -0.5.
We are confident that the results reported here continue to support our view of the improved continuity of grade and confidence in location of mineralisation in the Paris Silver Project. As previously mentioned, the continuing trend of high-grade mineralisation observed to the south of previously reported results bodes well for inclusion in the upcoming re-estimation of the resource.
McIlwain added that Investigator now needed to put the results together and complete its revised resource estimate for the Paris Silver Project.
The company expects to provide the revised resource estimate before May.
Investigator Resources share price snapshot
The Investigator Resources share price has shot the lights out over the past 12 months, up an eye-popping 740%. That far outpaces the 47% gain posted by the All Ordinaries Index (ASX: XAO).
Year-to-date, the Investigator Resources share price is down 7%.
