Investigator Resources Limited announcement overview

Investigator Resources Limited (ASX: $IVR) has announced the details of drilling undertaken by Discover Co on Joint Venture tenements in the Stuart Shelf, South Australia. Discover Co has reported an intersection of 8m @ 1.06% Cu from 62m in hole PE046, and has committed to $4M of expenditure over 4 years on the transfer of Gold Road's interests. Further drilling is planned to test the scale of this discovery.

Executive commentary on Discover Co's results

Discover Co had executed an agreement with Gold Road Resources to acquire their interest in the Stuart Shelf, which includes Gold Road's 51% interest in some of Investigator's tenements. In May 2024, Discover Co undertook a 56-hole drill program for approximately 4,400m, with approximately 25% drilled on Investigator's Joint Venture tenements. Hole PE046 located on Investigator's Whittata tenement was reported by Discover Co as returning the best intersection of the program. Discover Co is expediting plans to undertake further drilling to test the scale of this discovery. Their primary focus in the Stuart Shelf is the discovery of Zambian Copper Belt style sediment hosted copper under shallow cover, and they are expected to spend $4 million over 4 years within the Investigator Joint Venture tenements.

Summary of Investigator Resources Limited announcement

Discover Co, in collaboration with Investigator Resources Limited, has reported an intersection of 8m @ 1.06% Cu from 62m in hole PE046, indicating sediment hosted copper in the Stuart Shelf. Discover Co has committed to $4M of expenditure over 4 years on the transfer of Gold Road's interests and plans further drilling to test the scale of this discovery. Investigator Resources holds a 100% ownership in adjacent tenements totaling approximately 2,400km². The recent drilling results confirm the presence of Zambian Copper Belt style sediment hosted copper under shallow cover on the Stuart Shelf, within the Gawler Craton. The company aims to earn an additional 29% equity interest by spending $4m over a 4-year period on the Joint Venture tenements. The Competent Person Statement included in the appended Discover Co release provides further details on the exploration results.