Impact Minerals Limited (ASX:IPT) has used new ground induced polarisation (IP) data to identify
drill targets of large size and depth extent at Apsley prospect within its Commonwealth Project north of Orange in the Lachlan copper-gold province of New South Wales.
The IP anomalies occur within the core zone of a 2,000-metre-long by 500-metre-wide soil geochemistry anomaly defined by copper-gold-platinum-palladium, a metal assemblage characteristic of alkalic porphyry deposits such as Cadia-Ridgeway south of Orange.
This core zone is surrounded by a halo of zinc-lead-manganese covering several square kilometres and together they define a ‘zinc doughnut’ - a pattern well recognised and understood in porphyry copper-gold exploration and present around major deposits globally.
A set of priority targets have been identified in the IP and soil geochemistry data which have been fast-tracked for drilling.
“Exceptional IP results”
Impact Minerals managing director Mike Jones said: “These exceptional IP results, in particular the chargeability anomalies, are very exciting given they are coincident with our ‘textbook’ soil geochemistry patterns that are characteristic of those around major porphyry copper-gold deposits around the world.
“The anomalies start close to the surface, extend to a considerable depth and appear to link up along trend, thus supporting our contention that the whole area is potentially part of one large mineralised system.”
Drill testing to start soon
The company has secured a drill rig and will start drill testing as soon as practicable after the receipt of statutory approvals, expected by early March.
Detailed mapping and sampling along the IP traverse, as well as drill pad preparation, is in progress.
Jones said: “These are now the most prospective targets in our entire portfolio and they warrant immediate drill testing.
“We are charging forward as fast as possible and have already secured a drill rig, lodged the paperwork for the required statutory approvals and have people on the ground doing further field checking of the drill sites.
“We aim to drill these compelling targets as soon as we can and we are certainly very hopeful that we could be about to find the ‘jam’ in the middle of our zinc doughnut.”
Next steps
Field checking and rock chip sampling along the priority IP traverses and inspections of specific drill sites for ground clearance are in progress.
A drill program comprising up to 3,000 metres of RC drilling will start soon as practicable after the receipt of statutory approvals which are expected within weeks.