Impact Minerals identifies new targets at the Doughnut Prospect
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has identified three new priority drill targets for gold, silver, copper, lead and zinc mineralisation at the Doughnut prospect, located about 1,500 metres north of the Commonwealth deposit at the company’s 100 per cent-owned Commonwealth project in New South Wales.
The targets have been identified as areas of variably overlapping gravity, Induced Polarisation (IP) and soil geochemistry anomalies.
Impact intends testing these targets together with other targets at the Commonwealth, Silica Hill and Welcome Jack prospects, by a drill program scheduled to start next week following its closure of the current Share Purchase Plan on 9 May 2016.
The Doughnut prospect was first identified as large elliptical zinc-lead-copper-gold-silver-in-soil anomaly that is 1.2 km by 750 metres in dimension.
According to Impact there are three features of note about the anomaly, namely:
1. There are low values of all metals in the centre of the anomaly producing a distinctive ‘doughnut shape’;
2. The centre of the doughnut contains elevated values of potassium in the soil geochemistry data; and
3. The western edge of the doughnut contains strong gold-copper-bismuth and iron-in-soil results along the Coronation Trend. This metal association is characteristic of a ‘skarn assemblage’ commonly found around large intrusions either in the contact zones or in associated faults.
Three targets will be drilled, two of which lie within a northwest trending IP anomaly of moderate to strong chargeability at least 300 metres long and up to 400 metres wide.
“The IP anomaly is present on three survey lines each 200 metres apart and is increasing in size and strength to the southeast,” Impact Minerals explained in its ASX announcement.
“It is still open to the southeast and northwest.
“The strongest part of the IP anomaly is coincident with a gravity anomaly and this will be drill tested.
“Such a response may be expected where a massive sulphide body is surrounded by a halo of disseminated sulphide.
“A second part of the IP anomaly coincident with anomalous soil geochemistry will also be drill tested.
“The third drill target comprises coincident gravity and soil geochemistry anomalies.
“Several new gravity anomalies have also been identified to the north of the Doughnut in an area with no soil geochemistry or IP coverage.
“These are areas for follow up work.”
Email: info@impactminerals.com.au
Website: www.impactminerals.com.au