Transcription of Finance News Network Interview with Investigator Resources Limited (ASX:IVR) Managing Director, John AndersonLelde Smits: Hello I’m Lelde Smits for the Finance News Network and joining me from Investigator Resources Limited
(ASX:IVR), is its Managing Director, John Anderson. John welcome back to FNN.
John Anderson: Thank you Lelde.
Lelde Smits: Investigator Resources is targeting metals discoveries in South Australia’s southern Gawler Craton. What’s the investment rationale behind operating in this region?
John Anderson: The Gawler Craton, Lelde, is a world class minerals province; it has 60 per cent of Australia’s copper resources. But we see the opportunity for silver, precious metals, gold alternatives to the Olympic Dam style and as a result, we’ve moved into the area. We’ve taken a dominate ground position; we’ve proven the concept with the Paris silver discovery. And we’re now rolling out our knowledge from Paris to develop other targets, both nearby to Paris and also in new fields that we’re recognising, across a 100 kilometre length of very prospective geology.
Lelde Smits: The Company’s main focus is the Peterlumbo JV/Paris silver project. What has been identified to date?
John Anderson: Last October we announced a maiden resource for our Paris project, a silver resource of 20 million ounces of contained silver. But importantly, that is a very good start and it is just a start, because it lies within a volcanic centre. And there’s opportunities for more mineralisation, both extending directly away from the Paris resource, but also in satellite targets within the Paris field.
Lelde Smits: And John, what are you targeting at the project now?
John Anderson: Our first priority is to target the immediate extensions to Paris. The Paris resource covers about 1.2 kilometres of strike length of prospective geology. And now we’ve recognised what that geology looks like, we’re now looking at another eight kilometres of prospective strike, extending directly away from Paris.
Lelde Smits: What is the potential for exploration upside?
John Anderson: The style of geology that we see in the Paris deposit, offers the opportunities for more repetitions for extensions. So there’s an enormous amount of potential from this initial discovery. As I said before, we believe the Paris resource is just the beginning for this part of the world.
Lelde Smits: What are your priorities for the project and timeline for achieving them?
John Anderson: Our priorities Lelde are to do more drilling on the extensions to Paris, with the aim of doubling the resource. We’d like to do that to make the project very robust. We’d get that done by the end of this calendar year, so we can move on to scoping studies in early 2015.
Lelde Smits: Turning to financials - What is your proposed exploration budget and could you outline your funding structure over the following year?
John Anderson: We’ve currently got a rights issue out with our shareholders. We’re aiming to raise $5 million and that will be put directly into the ground, to test those four key exploration areas that we’re focussing on. We’re intending to do 28,000 metres of drilling. So with a fairly cheap technique, we’re going to get a lot of coverage in this very prospective ground. We currently have $2 million cash at the moment, so we’re better off than most companies, but we need those extra $5 million in funds to realise our opportunities.
Lelde Smits: As an exploration company, what do you believe sets Investigator Resources apart from other companies in terms of your approach?
John Anderson: Investigator is a first mover in an emerging mineral belt. That’s a rare opportunity that all explorers dream of, we’re achieving that. We have the ground, we have the in-house data set and we have the knowledge from our Paris discovery, of how to go about it. So we are in a definite strong competitive position in our selected belt, in South Australia.
Lelde Smits: Finally John, what is the Company’s exploration strategy over the following year and what kind of company are you aiming to create?
John Anderson: We’re aiming to maintain the momentum that we established in 2013. With our substantial drill campaign to test four potentially company making areas during 2014. Our aim is to become a precious metals producer and grow the Company for our shareholders.
Lelde Smits: John Anderson, thank you for the update from Investigator Resources.
John Anderson: Thank you Lelde, it’s been a pleasure.
Ends
