TRANSCRIPTION OF FINANCE NEWS NETWORK INTERVIEW WITH INVESTIGATOR RESOURCES LIMITED
(ASX:IVR) MANAGING DIRECTOR, JOHN ANDERSON
Clive Tompkins: Hello Clive Tompkins reporting for the Finance News Network. Joining me for an update on its projects is Investigator Resources Managing Director, John Anderson.
John welcome to FNN, can you start by briefly introducing Investigator Resources?
John Anderson: Yes thank you Clive. Investigator Resources is a greenfields explorer, that’s where we see the opportunities to make fresh discoveries for our investors. We’re focusing at the moment on silver, gold, copper and iron ore primarily in South Australia where we have our expertise. And we have a few advantages in the way we approach our exploration that makes us stand out from other explorers.
Clive Tompkins: Good thanks John. So where’s your share price today and what’s its market cap?
John Anderson: Our share price has been fairly steady at around 9 cents. We had a couple of peaks around 11 cents after we announced some recent silver results. We’re capitalised at around 14 million at the moment. We have cornerstone investors in CITIC Australia and also in the Talbot Group.
Clive Tompkins: John, now I see you’ve diversified away from uranium exploration and indeed changed the company’s name, what’s behind that?
John Anderson: What’s behind that Clive is we have always been focusing our exploration on iron oxide copper gold, uranium targets in South Australia. And that work has progressed very well in that we’re finding copper anomalies, we’re finding silver mineralisation, we’re finding gold targets as well as the uranium. So we needed to diversify our name into resources.
On the Investigator part of our new name, that’s very important. I’m a great fan of history and Matthew Flinders was the first European explorer of that part of the world. His ship the Investigator was a small fast boat that outsailed the French in claiming South Australia for the English and we’re modelling our own company on that approach. We’re small, we’re fast, we’re effective, we are competing for the next round of discoveries that we’re expecting in this part of South Australia.
Clive Tompkins: John turning to your projects now, your biggest is your silver gold project Peterlumbo. Where is it and what do you have?
John Anderson: Peterlumbo Clive is located about 600 kilometres north west of Adelaide on Eyre Peninsula. We went into that area based on our geochemical results and have recognised an epithermal field that’s never been identified before. It’s got outcropping mineralised rhyolite rocks, which are quite encouraging for the type of deposit we’re looking for – but a lot of soil in between. So we went in with our initial drilling in January, very shallow drilling and that hit some very good silver results.
The best result was bottom of hole, 8 metres of 190 ppm silver, that’s an amazing result. And then the next hole 350 metres away, didn’t go as deep but got similar results at the same levels. This is within a 1 kilometre long soil anomaly, so we expect we’ll be doing a lot of work on that target. But it also shows that a number of other soil anomalies in the area with similar characteristics with associated metal anomalism are very attractive for exploration, and we’re going to be moving in there and doing quite a bit of drilling over the next six to twelve months.
Clive Tompkins: Good thanks John. You’ve got a large tenement footprint on the Eyre and Yorke Peninsulas; do you have any other targets of note?
John Anderson: We have a lot of targets that have been really bolstered by the Peterlumbo result, because what we did on the Eyre Peninsula was a regional soil geochemical programme and that’s what led us into the Peterlumbo target. We have other copper, gold, silver and uranium anomalies in that geochemical data set that look equally as attractive and we’re really looking forward to going in and testing those.
Now we did that regional soil survey because we believe that the Eyre Peninsula and Yorke Peninsula are connected by a structural corridor that is very prospective for iron oxide style targets, like Olympic Dam. We think this is a corridor that’s parallel to Olympic Dam and goes from the Yorke Peninsula, all the way across Eyre Peninsula.
So as well as our targets on Eyre Peninsula, we also have some very good ground on Yorke Peninsula on the extension to the Hillside trend, and we’ve taken up a great position there. We’ve found the cover isn’t that thick, it’s very explorable and we’re looking at the old exploration data and finding very good indications of iron oxide targets - iron oxide copper gold targets in that data, that weren’t picked up by the early explorers because they didn’t have the concept of an Olympic Dam at the time they were doing that exploration.
Clive Tompkins: And John you also have an iron ore project Jungle Dam, can you tell us about that?
John Anderson: Yes Jungle Dam is located fairly close to the Onesteel Middleback iron ore operations on Eyre Peninsula. It’s a project that we’ve been working on for some time and we’ve recently done 3000 metres of drilling to gather more information on about 14 kilometres of prospective trend that we see there. That drill data’s being compiled at the moment and we’re aiming to go to a resource estimation within a month or so.
Clive Tompkins: Good thanks John, last question now. What do the next six to twelve months hold for Investigator Resources?
John Anderson: I believe that Investigator Resources is on the cusp of making a significant discovery in South Australia. It is a rare opportunity to have a project like Peterlumbo where we’re the first entrants to go in and to make the most of the exploration potential of an area like that. And we’re aiming to emulate that success at Peterlumbo by testing our other targets throughout Eyre Peninsula and Yorke Peninsula.
Clive Tompkins: John Anderson thanks for the update and good luck.
ENDS
