Impact Minerals (ASX:IPT) has drilled the first two of seven holes at its promising copper-nickel-platinum (PGM) joint venture project near Broken Hill in New South Wales encountering further oxide and sulphide copper-nickel mineralisation.
Logging and sampling of the core is in progress with assay results expected in four to five weeks. The rig has now moved to Target T6.
Impact has earned 87% of the rights to nickel, platinum and any other metals, occurring in the exploration license E7390.
Golden Cross Resources (ASX:GCR) has not contributed to the current drill program and Impact’s interest in the mineral rights will increase to about 90%.
Silver City Minerals (ASX:SCI) has the joint venture rights to base metal, silver and gold mineralisation associated
with Broken Hill style mineralisation.
Drill holes in detail
Drill hole RHDH008 (50 metres) was drilled to test the up-dip and near surface extension of the 25 metres to 30 metre thick zone of high grade of mineralisation discovered by Impact beneath the dormant Red Hill Mine shaft.
The drill hole intersected about 30 metres of extensive copper and nickel oxide and sulphide mineralisation and indicates the zone of mineralisation extends to surface.
This hole has confirmed a recent exploration breakthrough for Impact with detailed studies of previous drill holes
indicating that the ultramafic rocks in the Broken Hill project are prospective for two different styles of platinum - copper-nickel mineralisation: hydrothermal veins and breccias at the upper margins and sides of the ultramafic intrusions, and massive sulphide layers at the base of the intrusion.
Another hole RHDH007 (421 metres) was drilled to test the depth extent of the southern lobe of the main Red Hill intrusion and intersected several zones up to tens of metres thick of weakly disseminated copper sulphide within the ultramafic rocks and associated with numerous veins and breccia layers up to 10 cm thick containing both copper and nickel sulphides.
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