Peterlumbo Project

Nankivel porphyry copper-gold target – a robust untested porphyry target

Investigator developed flow-on discovery opportunities from its 2011 discovery of Paris for copper-gold porphyry-style at Nankivel, 5km southeast of the Paris Project.

Co-funded by the South Australian PACE drilling initiative, results from Investigator’s first hole at Nankivel in August 2016 strongly implied that the hole is on the margin of a copper-gold mineralised porphyry system.

Four diamond drill holes were drilled in early 2017, aimed at IP chargeability anomalies within a large demagnetised zone. All holes intersected potassic-altered porphyritic monzodiorite over the drilled area variously showing the fracturing, veining and multiple intrusives expected in a mineralised porphyry system. The potassic alteration has the minerals expected in a mineralised porphyry – potash feldspar, biotite, magnetite and tourmaline.

The assays are pending, but the copper mineralisation is visually estimated to be low to modest in content and is not expected to produce significant grades. The mineral zoning suggests that any higher-grade copper shell to a modelled late intrusive is at least 500m below the surface beneath current drilling. Although deep, there is alteration and intrusive evidence for multiple porphyry events at Nankivel that implies shallower (“telescoped”) porphyry deposits.

The assays will also be used to assess vertical and lateral vectors to proximal porphyry and epithermal targets by the comparison of the multi-element data between holes.

Investigator will test the shallow targets with potential to build on the Paris silver project, starting with drilling of the Nankivel high-sulphidation epithermal target interpreted to have been skimmed by the recent drill holes.