Impact Minerals confirms PGE and cobalt at Mulga Tank

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THE DRILL SERGEANT: Impact Minerals’ (ASX: IPT) claims its on-going review of the company’s Mulga Tank Joint Venture project in the Minigwal Greenstone Belt of Western Australia has confirmed the presence of widespread nickel sulphide mineralisation with the potential for credits of platinum group metals (PGE) and cobalt.

Impact said the review has revealed previously unknown PGE and cobalt assay results that include:

–    11 metres at 0.37 per cent nickel, 0.07 grams per tonne PGE (platinum and palladium) and 116 parts per million (ppm) cobalt from 202 metres, including 1 metre at 1.12 per cent nickel, 0.5g/t PGE (platinum and palladium) and 271ppm cobalt.

“The occurrence of magmatic nickel sulphides, coupled with the anomalous PGE and cobalt assays, have further confirmed Impact’s view that the Mulga Tank Dunite has the potential to host a major nickel deposit,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“The dunite covers a large area of at least 12 square kilometres and the fact that all four previous diamond drill holes contain extensive nickel sulphide is remarkable.

“We are awaiting the results of the recently-completed ground EM survey that we hope will identify specific drill targets.

“The project’s recent award of $134,000 under the State Government’s Industry Drilling Program will enable us to significantly increase the size of planned drill programs.”

Impact has also completed a review of previous diamond drill core, which it said has confirmed much of the nickel sulphide mineralisation discovered at the Mulga Tank project is primary magmatic sulphide hosted in ultramafic rocks similar to those hosting the nickel deposits found at the Perseverance (45 million tonnes at 2 per cent nickel) and Mount Keith mines near Agnew in Western Australia.

 

Location of the Mulga Tank project and surrounding nickel sulphide
deposits (red dots) including the Mount Keith and Perseverance deposits.
Source: Company announcement

 

The company indicated that in places, the sulphide occurs as narrow massive layers up to several centimetres thick.

Impact recently acquired the rights to earn a 50 per cent interest in the joint venture from Golden Cross Resources (ASX: GCR) by spending $2.5 million by November 2nd 2017.

The Mulga Tank project is located 200km northeast of Kalgoorlie and covers 425 square kilometres.

It is located about 120km north west of the Nova nickel deposit of Sirius Resources (ASX: SIR) and 50km south west of the recent discovery of disseminated nickel sulphide at the BHP Billiton (ASX: BHP) and St George Mining (ASX: SGQ) Dragon project JV.