Investigator Silver (ASX: IVR) has returned high-grade drilling results from outside the current pit design at its Paris Silver Project in South Australia, while also confirming a new silver-bearing discovery roughly 7.5 kilometres away. The results point to potential resource growth beyond the project’s existing economics as the company works toward a development decision on one of the country’s larger undeveloped silver deposits.
Strong Grades Outside the Pit Design
Initial assays from the 2026 drilling program included a 4 metre intersection grading 5,448 grams per tonne silver from 78 metres at Paris East, including a standout 1 metre interval at 13,302 grams per tonne. At Paris North, drilling returned 2 metres at 4,211 grams per tonne silver from 111 metres and a broader 9 metre hit at 110 grams per tonne from 81 metres. Managing director Lachlan Wallace said the results reinforce the quality of the mineralised system and could lift the mining inventory beyond the definitive feasibility study released in February. Paris currently holds a resource of 24 million tonnes at 73 grams per tonne silver for 57 million ounces, with an ore reserve of 12 million tonnes at 88 grams per tonne for 33 million ounces.
A New Target at Theseus
Investigator also identified a new silver-bearing system called Theseus after re-examining diamond core drilled for uranium exploration in 2007 that had never been assayed for silver. Re-logging revealed cross-cutting veins carrying fluorite, galena and sphalerite alongside alteration typical of epithermal silver-lead-zinc systems, and first-time assays returned multiple silver intervals through the shallow hole. The historical hole ended at 57.6 metres while still inside the mineralised zone, leaving an untested target within the broader Paris Silver Corridor for follow-up drilling.
What It Means for ASX Silver Investors
The news follows a run of high-grade drilling results across the ASX silver sector this year and comes as silver’s 20 percent August surge keeps developers in focus. Global investment demand is expected to stay strong against a sixth consecutive annual market deficit forecast by the Silver Institute, a backdrop that continues to support interest in advanced ASX silver projects. Investigator lodged a mining lease application for Paris in August and is targeting permitting and approvals by 2027, meaning further assay results are likely in the months ahead. With a 57 million ounce resource and a new target open at Theseus, Paris remains one of the more closely watched silver stories on the ASX.
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