Investigator Resources (IVR) has entered into an earn-in agreement with Alliance Resources, targeting the Black Hill tenement (EL6475) for silver exploration. This tenement is strategically located adjacent to Investigator’s Peterlumbo tenement (EL6347), which hosts the Paris Silver Project in South Australia. The agreement focuses on the ‘Sunday Iron’ prospect within Black Hill, known for historical high-grade silver drill intersections, including 5m @ 493g/t silver from 71m, as reported by Trafford Resources in 2013.
Investigator’s team will apply its experience from the Paris deposit’s discovery and development to rapidly assess the under-explored region. They plan a comprehensive tenement-wide review before commencing initial drill testing. The earn-in provides a pathway to a joint venture, allowing Investigator to evaluate the potential for silver-lead-zinc mineralisation that would complement the Paris project. The multi-stage earn-in involves staged exploration expenditure and share issuance tied to milestones.
The agreement requires Investigator to spend $500,000 on in-ground exploration over two years for Stage 1. Stage 2 involves a further $500,000 spend to earn a 49% stake in the Joint Venture, with Investigator issuing $500,000 worth of IVR shares to Alliance. Upon granting of a mining lease, Investigator earns an additional 31% interest for a total of 80%. Alliance retains rights to minerals other than silver, lead, and zinc, reflecting its focus on gold and iron ore at the Weednanna project. The Manto prospect discovery, 6km northwest of Sunday Iron, has shifted exploration focus southwest within the Paris mineralised corridor.
Andrew Shearer, Acting Managing Director of Investigator, highlighted the exploration potential southeast of Paris, noting that limited follow-up had been conducted on significant silver intercepts previously reported. Ian Gandel, Chairman of Alliance, expressed enthusiasm for the collaboration, emphasizing the potential to maximize value towards Investigator’s Paris project. Prior exploration on Black Hill has revealed various mineralisation indicators, including anomalies in silver, lead, zinc, and gold.
