Impact Minerals (ASX: IPT) has identified an electromagnetic anomaly adjacent to the dormant Red Hill Mine at its recently acquired Broken Hill Joint Venture Project in New South Wales.
The company had reprocessed ground electromagnetic data acquired in 2005 over part of the Red Hill prospect, which has not been drill tested.
This data suggests that four parallel lodes – each 1 metre to 2.5 metres thick – were mined. These are open along strike and at depth.
In addition, previous rock chip assays taken over a 130metre by 30 metre northeast trending area centred on the Red Hill Mine and close to the contact between the host ultramafic dyke and the surrounding rocks, returned up 41 grams per tonne platinum group elements, 6.1% copper and 1.9% nickel.
Follow up soil sampling using a hand held XRF machine is in progress.
A field program is in progress at the Broken Hill Project that comprises field checking, soil and rock chip sampling and re-logging of previous diamond drill core. Reprocessing of other electromagnetic surveys in the project area is also in progress.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.