IVR: 30,000m Drilling Program Underway to Unlock Paris Growth
Original announcement by asx on
- Company
- Investigator Silver Limited
- Ticker
- IVR
- Exchange
- ASX
- Region
- South Australia
- Primary commodity
- Silver
- Secondary commodities
- Lead
- Document categories
- Resource update, Other
- Extracted
- 2026-09-23 00:29:00 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Investigator Silver has commenced a fully funded 30,000-metre drilling program at the Paris Silver Project in South Australia. The campaign aims to expand the silver resource and upgrade resource confidence beyond the current Definitive Feasibility Study mine plan.
Reasoning: The announcement focuses on the commencement of a significant drilling program rather than new assay results, though it restates existing resource/reserve data.
Positive factors
- commencement of large 30,000m drilling program
- program is fully funded
- targets resource growth and confidence upgrades
- follows successful DFS
Facts used in scoring: 7
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document restates the Paris Silver Project Mineral Resource and Ore Reserve estimates.
Evidence · text
“Paris Mineral Resource Estimate7”
QA/QC Disclosedpositive · Story-specific tag
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The document names Competent Persons (Jason Murray and Atish Kumar) for exploration and reserves.
Evidence · text
“prepared by Mr Jason Murray who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM)”
Extracted facts
Stored fact records: 7. Some facts used in scoring do not have a stored record.
Resource Estimates (7)
indicatedParis Silver Project · silverTonnes: 17000000Grade: 75Grade Unit: g/tContained Metal: 41Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- silver
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:0e6805c6d56b4d2130e7
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 17000000
- Grade
- 75
- Grade Unit
- g/t
- Contained Metal
- 41
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical indicated silver resource restated from 2023 announcement.
Evidence · table
“75”
Context: 17
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
indicatedParis Silver Project · leadTonnes: 17000000Grade: 0.5Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- lead
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:0e6805c6d56b4d2130e7
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 17000000
- Grade
- 0.5
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical indicated lead grade restated from 2023 announcement.
Evidence · table
“0.5”
Context: 17
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
inferredParis Silver Project · silverTonnes: 7200000Grade: 67Grade Unit: g/tContained Metal: 16Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- silver
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:9606e72037fba735f9fb
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 7200000
- Grade
- 67
- Grade Unit
- g/t
- Contained Metal
- 16
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical inferred silver resource restated from 2023 announcement.
Evidence · table
“67”
Context: 7.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
inferredParis Silver Project · leadTonnes: 7200000Grade: 0.42Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- lead
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:9606e72037fba735f9fb
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 7200000
- Grade
- 0.42
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical inferred lead grade restated from 2023 announcement.
Evidence · table
“0.42”
Context: 7.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
inferredParis Silver Project · silverTonnes: 24000000Grade: 73Grade Unit: g/tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- silver
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:b948a0229ab9204a6dc5
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 24000000
- Grade
- 73
- Grade Unit
- g/t
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical inferred silver resource restated from 2023 announcement. (Expanded from multi-commodity resource table for completeness.)
Evidence · table
“73”
Context: 24
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
inferredParis Silver Project · leadTonnes: 24000000Grade: 0.41Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- lead
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:b948a0229ab9204a6dc5
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 24000000
- Grade
- 0.41
- Grade Unit
- %
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-07-05T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical inferred silver resource restated from 2023 announcement. (Expanded from multi-commodity resource table for completeness.)
Evidence · table
“0.41”
Context: 24
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.2 years before this release
probableParis Silver Project · silverTonnes: 12000000Grade: 88Grade Unit: g/tContained Metal: 33Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Paris Silver Project
- Commodity
- silver
- Region
- australia_sa
- Reported Region
- South Australia
- Ticker
- IVR
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- Resource group id
- resource:7c4693110d77679b975a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- probable
- Tonnes
- 12000000
- Grade
- 88
- Grade Unit
- g/t
- Contained Metal
- 33
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2026-02-27T00:00:00.000Z
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Historical probable silver reserve restated from Feb 2026 DFS announcement.
Evidence · table
“88”
Context: 12
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.