Impact confirms widespread rare PGMs at Broken Hill
THE DRILL SERGEANT: Impact Minerals Limited (ASX: IPT) has received new assay data and undertaken a review of previous results from the company’s Broken Hill Joint Venture project.
Impact said the latest results have confirmed the presence of high-grade and rare platinum group metals in a wide arc stretching from the northeast to the southeast of Broken Hill in New South Wales.
The results have demonstrated high to very high grades of the rare platinum group metals (PGM) osmium, iridium, rhodium and ruthenium at a number of the JV prospects.
At the Platinum Springs prospect, a representative 120 kilogram sample of gossan returned:
19.6 grams per tonne platinum, 50g/t palladium, 3g/t rhodium, 3g/t osmium, 4.4g/t iridium, 2g/t ruthenium, 0.57g/t gold, 0.34 per cent nickel and 0.71 per cent copper;
The review of earlier work revealed a nearby drill hole completed by a previous explorer discovered a two metre thick zone of fresh massive sulphide from 45m depth that returned:
2m at 52g/t platinum equivalent comprising 10.9g/t platinum, 23.6g/t palladium, 4.5 per cent copper and 6.1 per cent nickel.
A one metre interval of this was sampled for the rare PGMS and returned:
1m at 1g/t rhodium, 1.3g/t osmium and 1.2g/t iridium.
The review also identified two other undrilled prospects in the Moorkai Intrusive Complex, where previous explorers identified rhodium in grab samples at Round Hill and Back Ridge including respectively:
5.6g/t platinum, 8.8g/t palladium, 0.8g/t rhodium, 2.4 per cent copper and 0.7 per cent nickel; and
5.2g/t platinum, 6.5g/t palladium, 1g/t rhodium, 0.6 per cent copper and 0.1 per cent nickel.
“These results reinforce our view that Impact’s Broken Hill project contains not just some of the highest grades of PGM reported in Australia but that they occur over a wide arc where we suspect even further PGM opportunities will be generated from more detailed surface exploration and drilling,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.
Impact considers these results add to those recently achieved from the Red Hill prospect, also at the southern end of the project, where the company has identified six targets for further drilling.
The Broken Hill JV project (EL) E7390 is owned by Golden Cross Resources (GCR) and is the subject of two joint ventures, one between GCR and Impact and one between GCR and Silver City Minerals Limited (ASX: SCI).
Impact has earned 87 per cent of the rights to nickel, platinum and any other metals.
Should Golden Cross dilute to less than a 5 per cent interest in these rights then it has to transfer its interest to Impact for $1 (one dollar).
Silver City has the rights to base metal, silver and gold mineralisation associated with Broken Hill style mineralisation.
Email: info@impactminerals.com.au
Website: www.impactminerals.com.au