Market speculation is rife that Andrew Forrest has made a $5 million investment in Impact Minerals (ASX:IPT), which is currently in a halt pending the release of details on a funding arrangement.
The Fortescue Metals Group (ASX:FMG) founder was no doubt attracted to the recently discovery of the Australia’s highest ever platinum grades at the company’s Red Hill prospect.
Red Hill, part of the Broken Hill Project, includes a 30 metre thick zone at 6 grams per tonne platinum equivalent as well as 5 to 10 metre thick zones at 15g/t platinum equivalent.
Shallow drilling at Red Hill has discovered a thick zone of massive, disseminated and vein hosted nickel and copper sulphide and oxide containing high grade platinum and rare metals such as rhodium, iridium, osmium, and ruthenium.
Broken Hill is a high grade platinum discovery that is located just 20 kilometres from the world class Broken Hill silver-lead-zinc mine.
The company holds two other projects with potential to deliver a major discovery.
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.