THE DRILL SERGEANT: Impact Minerals (ASX: IPT) is closing in on completion of an Induced Polarisation (IP) gradient array survey at the company’s 100 per cent-owned Clermont gold project located in the southern part of the Drummond Basin in Central Queensland.
Impact Minerals said exploration at Clermont has been reinvigorated following the completion of a strategic review of the project last Quarter.
The company explained the aim of the IP survey is to identify targets to be drill tested as soon as practicable, which is hoped to be shortly after completion of a planned drill program at Impact’s 100 per cent-owned Commonwealth gold-silver project in New South Wales where drilling is scheduled to start by late June.
The IP survey at Clermont is centred over two key prospects, Retro and Retro-Extended, at the northern end of the Retro Fault System, a 10-kilometre trend of gold-silver and base metal mineralisation.
“From south to north along the Retro Fault system, a transition may be present from bulk tonnage porphyry-style mineralisation to high-grade precious and base metal-rich epithermal mineralisation,” Impact Minerals said in its ASX announcement.
“The purpose of the current IP survey is to assess continuity of the mineralised structure over a strike length of about five kilometres from north of Retro to south of Retro Extended.”
Impact Minerals said that field checking and grab samples it has undertaken from along the Retro Fault System had confirmed the potential for epithermal mineralisation over 10km of strike as well as porphyry-style mineralisation at the Nanya prospect at the southern end of the Retro Fault System.
Grab samples of epithermal quartz veins and rare volcanic breccia at various prospects have returned assays of up to the following:
3.5 grams per tonne gold, 57.7g/t silver, 234ppm copper and 3.6 per cent lead.
Previous drilling at Retro also returned:
2m at 13.7g/t gold from 34m.
5.4g/t gold, 75g/t silver and 500ppm copper.
0.8g/t gold, 3.3g/t silver and 0.6 per cent lead.
South of the main mineralisation at the Retro Extended target, colloform banded quartz veins returned up to:
2.6g/t gold, 61.3g/t silver, 380ppm copper, 6.1 per cent lead and 830ppm zinc.
“All of these results indicate there is significant exploration potential along the Retro Fault System for the discovery of a major deposit and that further exploration is warranted as a priority,” Impact Minerals said.