Ann: Maslins Drilling and Paris Project Updates, page-2

This sucks.....for now!

3rd March 2020
Maslins Drilling and Paris Project Updates
• Maslins Hole #1 reached 1,196m
• Primary gravity target not explained
• Drilling of Maslins Hole #2 – 800m to the north has commenced
• Paris study work progressing

Investigator Resources Limited (ASX: IVR, “Investigator” or the “Company”) provides the following update in relation to the drilling at the Maslins iron oxide copper gold (“IOCG”) Project.

With a planned depth of 1,000m, the maiden diamond drill hole at Maslins was continued to a down hole depth of 1,196m.Maslins Hole #1 was terminated in Gawler Range Volcanics and did not explain the source of the targeted gravity anomaly. Target modelling using down hole density and magnetic susceptibility data collected during drilling was able to reconcile the magnetic response as mostly attributable to Gairdner (dolerite) dykes. However, drillcore density measurements of the dykes was unable to be reconciled with the gravity anomaly targeted by the drillhole. Modelling suggests a body with a higher density than initially estimated exists albeit at a greater depth. The IOCG model presented by the gravity and MT data remains valid and unresolved but will be further tested in Maslins Hole #2.

Investigator’s Managing Director, Andrew McIlwain said: “With high expectations, it is disappointing that we did not see significant mineralisation in the first hole, but it’s important to note that the gravity anomaly target remains unexplained. Working with the OZ Minerals team, we have further refined the modelled geophysics using observations from Maslins Hole #1 and as planned have commenced drilling Maslins Hole #2 some 800m to the north of the first hole.“It is encouraging to see the enthusiasm from the Investigator and OZ Minerals teams to get on with drilling the next hole. Along with the Titeline drill crew, we are committed to ensuring that the Maslins IOCG target is tested and this is a credit to all who have worked safely over the last few months through some challenging conditions.”