viewImpact Minerals Ltd

Impact Minerals drilling reveals major multi-element system, uranium in Botswana


Impact Minerals' (ASX: IPT) maiden drill program at the Red Hills Prospect in Botswana has identified an extensive alteration system, at least 1.5 kilometres long and 1 kilometre wide.

The system comprises multi-metal and mineral assemblages typical of those associated with some of the world’s largest and very high grade uranium (U3O8) deposits of similar, proterozoic age.

The prospect is part of the company’s 100% owned major Botswana Uranium Project and the results have significant implications for the uranium potential of Impact’s licences in Botswana as the uranium mineralisation could potentially be similar to the Athabasca Basin of Canada and the Pine Creek region of Australia.

Highlights include:

- 32 metres at 0.11% Total Rare Earth Elements (TREE) from 85 metres; and 56 metres at 0.1% TREE and 16 parts per million (ppm) U3O8 from 166 metres;
- 17 metres at 0.14% TREE and 13 ppm U3O8 from 55 metres, and 31 metres at 0.1% TREE from 86 metres; and
- 32 metres at 0.13% TREE and 10 ppm U3O8 from 45 metres.

The intercepts are in part coincident with similar thick intercepts of anomalous silver, lead, zinc and other metals.

A significant result of 94 metres at 65 ppm uranium from 108 metres was recorded from one hole with a portable XRF analyser. Samples from this drill hole and three others have been sent for assay with results due in January.

The alteration zone contains a central elongated core of very intense specular haematite alteration that is up to 100 metres thick, 400 metres wide and at least 1.5 kilometres long that occurs within a regional fault zone that extends for at least 60 kilometres along strike within Impact’s Licences.

The company is planning further work programs including follow-up drilling early in 2012.

Quick facts: Impact Minerals Ltd

Price: 0.021 AUD

Market: ASX
Market Cap: $37.29 m

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