Investigator Silver (ASX: IVR) has started drilling a fully funded program of about 30,000 metres at its 100% owned Paris Silver Project in South Australia, aiming to grow the resource and test extensions to the mine plan. The company confirmed the start of drilling on the ASX on 23 September 2026, with assays due progressively over the coming months.
What the drilling is targeting
Paris sits about 70km north of Kimba on the Eyre Peninsula. The program is designed to expand the silver resource, upgrade mineralisation into higher confidence categories, and follow up recent high-grade intersections at Paris East and Paris North. Holes will also test the Paris Silver Corridor beyond the current definitive feasibility study (DFS) mine plan, which was completed in February 2026.
The numbers behind Paris
The 2023 Mineral Resource stands at 24Mt at 73g/t silver, containing 57Moz of silver and 99kt of lead. The 2026 Ore Reserve is 12Mt of Probable material at 88g/t silver for 33Moz contained. There are no Proven reserves yet, so converting more of the resource into reserve is a clear value lever. Managing Director Lachlan Wallace says mining lease permitting, detailed engineering and financing are advancing in parallel with the drilling.
Why it matters for ASX silver investors
Paris is one of a handful of Australian silver developments moving toward production. Investors tracking the sector will recall that Bowdens Silver is in its final approval stretch in New South Wales, while Boab Metals has moved Sorby Hills into construction. Together they show the local pipeline maturing, even as established producers wrestle with grade and output issues. Broader demand trends are tracked by The Silver Institute.
For Investigator, the next catalysts are assay results from the new holes, permitting milestones and the financing path. Drilling success could lift the resource and reserve base, but delays in approvals, cost pressures or weaker silver prices could pressure returns. Developers carry heightened execution and funding risk, and share prices can move sharply on each drilling update. More coverage is available in our silver section.
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