Investigator Resources (ASX:IVR) has revealed its intersection of an 8m long drill core containing 1.06% copper on-site its Stuart Shelf JV-led acreage.
Shares in the microcap miner jumped 4.17% to 5cps as copper prices stay supported by robust fundamentals – namely an undersupply in the face of heightened demand.
That demand is driven by everything from good-old construction to increasingly tech-focused assets including the hardware needed for power grids, renewables projects, and even AI data centres.
Investigator teams up with another private entity called Discover Co at Stuart Shelf; the 8m copper intersection was pulled from a 62m deep drillhole.
Discover Co are obliged to spend $4M in exploration on-site Stuart Shelf “[upon] transfer of Gold Road’s interests.” Further drilling is slated for the near future.
Investigator and Gold Road Resources (ASX:GOR) work side by side at Stuart Shelf; Discover Co is an unlisted subsidiary of GOR golding the latter’s interest.
“Hole PE046 located on Investigator’s Whittata tenement (EL6642) was reported by Discover Co as returning the best intersection of the program,” Investigator Resources MD Andrew McIlwain said of the intercept results.
“Discover Co’s primary focus in the Stuart Shelf is the discovery of Zambian Copper Belt style sediment hosted copper under shallow cove, and is expected to spend $4 million over 4 years within the Investigator Joint Venture tenements”.
The project is located in South Australia.
IVR last traded at 5cps.