Published on Monday February 21 2011
Investigator Resources (ASX: IVR), previously known as Southern Uranium (ASX: SNU), is focused on exploring for Iron Oxide, Copper, Gold and Uranium ("IOCGU" or Olympic Dam style) deposits in the southern Gawler Craton of South Australia; unconformity style uranium deposits in the Northern Territory and volcanic hosted uranium deposits in north Queensland.
first assays from scout drilling at Peterlumbo identify that the project has some potential, with an intersection of; 20 metres at 84ppm (parts per million) silver, including 6 metres at 220ppm silver.Complete assays are anticipated but are still pending for the holes 200 metres and 400 metres further along the prospective trend.
Investigator said many other widely spaced holes over the 15 square kilometre area are anomalous in silver, gold, zinc, lead, copper or uranium, and show another mineralized trend at least 5 kilometres long.John Anderson, managing director, has welcomed these initial results, and said, “The results show we are 'first comers' to a large and genuine epithermal field.
"With exploration just commencing, Investigator Resources considers there is abundant opportunity to locate optimum structural settings for potential high-grade silver and gold deposits.”
The market has applauded the result, with Investigator shares up 21% to $0.115 in intra-day trading.Click Image To Access Uranium Stocks Australia
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