Investigator Resources Hits Significant Mineralisation At Peterlumbo

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.

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Southern Uranium (ASX:SNU) MD John Anderson Speaks With Brian Carlton at Symposium Roadshow

Published on Sunday Oct 24 2010

 

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Southern Uranium Locates New High Grade Iron Ore Prospect at Jungle Dam

Published on Monday 6th Sept 2010

Southern Uranium - ASX(SNU)

Southern Uranium has located new high-grade iron outcrops that further advance the iron ore prospects of the company’s Jungle Dam project on the Eyre Peninsula of South Australia.

New prospecting, detailed magnetic surveying and a revised prospectivity model have upgraded the potential for shallow haematite as Direct Shipping Ore.

Rock chip samples assayed 55.5% to 59.6% iron from limited outcrops within 2km-long magnetic zone.

John Anderson, managing director, said Southern Uranium has revised its strategy at Jungle Dam to focus on the potential for higher grade and shallow haematite as DSO and plans to commence drilling of highpriority areas at the earliest opportunity.

The company’s objective is to determine whether an iron ore resource could be established to Inferred Category by early 2011.

“Our prospecting located new high-grade outcrops of iron formation assaying from 55% to nearly 60% iron within a large magnetic zone named Central West,” Anderson said.

“This significantly increases the prospectivity for shallow high-grade haematite at Jungle Dam."

“The new magnetic data maps the Central West Zone as a fold nose where the outcropping high iron grades and interpreted thicknesses indicate the original iron formation is structurally enhanced.”

“In contrast, our initial drilling along the less disrupted iron formation in the Central Zone to the east showed grades of 20 to 40% iron and horizontal widths of up to 45 metres. Importantly, that drilling demonstrated that a 70m thick weathered blanket of higher-grade haematite overlies the primary magnetite iron formation.”

The higher outcropping iron grades have refocussed Southern Uranium’s exploration on the Central West Zone and other similar magnetic zones showing structural complexity.

These areas have excellent potential for shallow high-grade haematite. Preliminary modelling of the new magnetic data at Central West indicates the weathered haematite blanket extends to 100m depth beneath the outcrops.

“Southern Uranium is preparing to do a detailed gravity survey over the Central West zone to better map the haematite-prospective areas,” Anderson said.

“This will assist the prioritisation of targets for the next round of drilling planned to start as soon as a drill contractor is secured.”

The Jungle Dam iron ore project is held 100% by Southern Uranium under Exploration Licence 3479 “Lake Gilles” on east Eyre Peninsula. Over 14km of prospective iron formation are delineated by magnetics to extend south of the Hercules iron ore resource held by another company.

The geological sequence is correlated with the Middleback iron formation at the OneSteel (ASX: OST) mining operations situated about 50km to the southeast of Jungle Dam.

Three new prospective and undrilled zones are interpreted to lie within the same structural corridor containing the Wilcherry Hill skarn magnetite deposits and Weednanna gold deposit held by another company to the northwest.

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SOUTHERN URANIUM IDENTIFIES 6 NEW URANIUM - COPPER - GOLD TARGETS IN STH AUSTRALIA

Wednesday, March 03, 2010

Southern Uranium (ASX: SNU) has completed a large gravity survey around the Ridgeback magnetic targets near Bute on Yorke Peninsula, South Australia.

The results have added six new "high priority" copper-gold-uranium targets within the highly prospective Pine Point Fault Zone.

This resulted from a gravity survey of the 30km length of prospective Pine Point Fault Zone (PPFZ) within Exploration Licence (EL) 4278 that is held 100 percent by Southern Uranium.

John Anderson, Southern Uranium’s managing director, said the survey work had produced excellent results.

“The gravity results are very exciting as the new targets firmed up our view that the Ridgeback area is one of South Australia’s best exploration addresses with potential for greenfields IOCGU discoveries.” Mr Anderson said.

“The combined gravity and magnetic targets support the presence of a large mineral system that warrants a substantial exploration program. The pattern of targets is close to our structural prediction of where IOCGU deposits are likely to have formed, so we look forward to being able to start drill testing soon.”

The February survey was designed to detect gravity targets with potential for iron oxide copper gold uranium (IOCGU) deposits in association with the two Hillside-style magnetic targets already identified at Ridgeback.

Consequently, six new targets were identified as gravity anomalies adjacent to the Ridgeback targets and other magnetic anomalies along a highly prospective 20km segment of the PPFZ.

The magnetic targets are proposed for drill testing as soon as access agreements are finalised with landowners.

The Pine Point Fault Zone hosts the Hillside copper-gold and uranium deposits recently discovered by Rex Minerals (ASX:RXM) and located 60km south of EL 4278. The Hillside deposits are hosted by magnetite-altered rocks and are considered variants of the IOCGU family of deposits.

Gawler Craton is a world-class copper gold uranium province with growing discoveries of IOCGU deposits at Prominent Hill, Carrapateena and Hillside add to the best known example of Olympic Dam.

Gravity was the primary exploration method used to discover the Olympic Dam, Prominent Hill and Carrapateena deposits adjacent to lead-in magnetic anomalies.

Each discovery has added more information that improves the ability to choose locations and exploration techniques to make the next generation of discoveries within the craton.

The Ridgeback magnetic targets may be the core of a large mineral system that also contains haematite-hosted IOCGU deposits. Haematite is another iron oxide that can form IOCGU deposits but unlike magnetite is not magnetic.

The recent gravity surveying was therefore undertaken over an approximate 7km by 30km area centred on the Ridgeback magnetic targets.

This work identified six new high potential targets as being semi-coincident with or along the PPFZ from the magnetic targets. The new targets have prospective sizes of one to two kilometres length.

The pattern of gravity anomalies relative to the initial magnetic targets is encouragingly consistent with the structural prediction of IOCGU targets interpreted from the regional magnetics and used to select the area of the survey.

The pattern and extent of anomalous geophysical signatures may indicate a large mineral centre.

Southern Uranium’s initial priority is the drilling of the two Ridgeback magnetic targets to test for Hillside-style deposits or to at least demonstrate the presence of a large IOCGU mineral system.

The positive gravity results have significantly expanded the target portfolio at Ridgeback and additional drill programs are being planned.

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