Ann: Metallurgical Testwork Improves Paris Silver Recoveries, page-2

7 June 2021
Metallurgical Testwork Improves Paris Silver Recoveries
Silver recovery improved from 65% to 72% within largest domain of Paris resource
Highlights
• Metallurgical test work has improved silver recoveries from main mineralisation type within
the Paris Silver Deposit.
• Weighted average silver recovery of 78% across the Resource, represents a 4% improvement over the 2018 testwork.
• Metallurgical testwork targeted improved silver recoveries from the Breccia Transitional
(“BT”) metallurgical domain component of Paris Mineral Resource.
• BT domain material comprises 54% of the total 2017 Paris Mineral Resource.
• Revised grinding and cyanide leach testwork improved recovery of silver in the BT domain
from 65% to 72%.
• Additional potential to increase recoveries with further optimisation of flotation tail cyanide
leach in future testwork programs.
Investigator Resources Limited (ASX: IVR, “Investigator” or the “Company”) is pleased to provide
this release reporting on the results from metallurgical testwork that has been undertaken in relation to its
100% owned Paris Silver Project in South Australia

Commenting on the results reported here from the Paris Silver Project metallurgical testwork, Investigator’s Managing Director, Andrew McIlwain said:
“We are very encouraged by the improved recoveries achieved in the met test program that focussed on the lower recovery material from the Breccia Transitional (or BT) domain.
“Previous testwork resulted in a 65% recovery of silver from this material and, with the BT domain
comprising 54% of the resource, a clear opportunity existed to shift the economics of the project
through improving the recovery of this largest metallurgical component of the resource.
“This recent round of testwork was initially performed on material available from the 2018 metallurgical program and subsequently on a fresh BT domain sample collected from the 2020 infill drill
program.
“The team was set a target of improving silver recovery from the BT domain by 5%. By lifting recoveries from 65% to 72% with processes that can be readily adopted within a conventional operating process plant flowsheet, they have delivered a significant improvement to the path forward
for the Paris Silver Project.
“I am particularly encouraged that there are opportunities that may be explored to further incrementally improve metal recoveries within both the BT, and other metallurgical domains.
“Importantly, the process flowsheet developed for this testwork is complementary to that considered for treatment of the balance of the Mineral Resource.
“With the revised Paris Mineral Resource estimate anticipated to be available for ASX review in
June, completion of this metallurgical testwork provides another vital component in progressing
the Paris Silver Project PFS”.