IVR 0.00% 4.8¢ investigator resources ltd

I saw JA present at 3 mining conference in July-November last...

  1. 104 Posts.
    I saw JA present at 3 mining conference in July-November last year and went along to the AGM, had some good chats to him at the booth and the directors at the AGM.
    The uncertainly at the moment is caused by the so called “cavities”.
    My reading of the announcements is the initial drilling success was with RAB drilling.
    To get the resource up to JORC standard, IVR switch over to diamond drilling, with the resulting silver veins being thinner and uneven, due to gaps in the cores, which were initially diagnosed as “cavities”. This completely destroyed the JORC as the sheets of mineralisation were now uneven and massively depleted due to where there was silver mineralisation with RAB, there were now cavities.
    In the announcements IVR talk of “clay”. I got clarification about this “clay” at the AGM. To cool the diamond drill, water is pumped through the drilling bit at (from memory) 70lt/min, and the drill is going through 7mt/hr. Where the “cavities” were the ground was soft “clay’ and the water washed the sample away, resulting in no core sample.
    The drilling contractor was getting paid by the metre, so he did not care.
    IVR had to work out what the problem was. They changed contractors, to one who could get a core sample, where previously there was “cavities”.
    At the AGM we were told that now there were no “cavities” in the diamond drilled samples they were getting the new contractor to increase the number of rigs working on site.
    Personally I am happy with management, all this was in the announcements, there was a problem, they worked through it. When the JORC comes out it will be accurate and we can them move onto mining with 100% certainty in the resource.
 
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