Impact Minerals (ASX:IPT) has revealed an array of high-grade metals from a three further drill holes near the old mine workings at the company's Red Hill prospect, part of the Broken Hill Project in New South Wales.
Assays reveal good to high grades of PGM-copper-nickel mineralisation is present over robust widths within 50 metres of the surface in 10 out of the 11 drill holes completed.
PGM’s at Red Hill have included the rare rhodium, iridium, osmium and ruthenium.
Rare PGE’s are known to command premium prices as they are used in many specialist hard-wearing metal alloys, electronics and for catalytic converters.
Adding interest, high-grade zinc mineralisation has been returned for the first time.
Latest highlights include:
Drill Hole RHD015: 3.9 metres at 4.2 g/t platinum, 3.8 g/t palladium and 0.3 g/t gold (8.3 g/t Pt+Pd+Au) 1.4% copper, 0.3% nickel and 19 g/t silver; including
- 0.5 metres at 14.2 g/t platinum, 6.2 g/t palladium and 0.2 g/t gold (20.6 g/t Pt+Pd+Au) 5.2% copper, 0.7% nickel and 50 g/t silver.
Drill Hole RHD017: 16 metres at 1.4 g/t platinum, 1.4 g/t palladium, 0.1 g/t gold (2.9 g/t Pt+Pd+Au) 0.3% copper, 0.3% nickel, 9 g/t silver; including
- 1.7 metres at 3.6 g/t platinum, 3.9 g/t palladium, 0.2 g/t gold (7.7 g/t Pt+Pd+Au) 0.6% copper, 0.4% nickel and 20 g/t silver.
Drill Hole RHD016: 0.3 metres at 4.2% copper, 114 g/t (3 ounces) silver, 0.2 g/t gold, 0.1% zinc and 0.1% lead within 17 metre thick zone of anomalous base metals.
Broken Hill Project
The project comprises three exploration licences that cover a 40 kilometre trend of rocks prospective for nickel-copper-PGE in mafic and ultramafic rocks and lead-zinc-silver in “Broken Hill style” deposits hosted mostly by metasedimentary and related rocks.
Impact wholly-owns two of the licenses.
Subject to Ministerial approval, expected within a few months, Impact will acquire the third licence.
Analysis
Assays are still pending from RHD019, which has visually encouraging copper-nickel mineralisation.
So far 10 out of the 11 drill holes confirm good to high-grades of PGM-copper-nickel mineralisation are present over robust widths within 50 metres of the surface.
While Impact continues to establish the width of the mineralised zones, today's results highlight that they are growing.
News flow will continue in the near-term, as detailed logging of the diamond drill core is still in progress.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.