THE DRILL SERGEANT: Impact Minerals (ASX: IPT) declared it would be picking up the exploration pace at the company’s Broken Hill and Commonwealth projects in New South Wales.
Impact Minerals said exploration at these sites is being invigorated under a new 2020 focus for the company underpinned by current record Platinum Group Metal (PGM) prices, palladium and rhodium in particular, and the recent Boda-Kaiser copper-gold discovery of Alkane Resources (ASX: ALK) near Dubbo.
The company explained its 2020 campaign will build on previous work by Impact and others in the Broken Hill area which resulted in the discovery of some the highest grades of all six Platinum Group Metals (PGM: platinum, palladium, rhodium, osmium, ruthenium, iridium) in Australia, together with exceptional nickel-copper grades along a 40 kilometres long belt southeast of Broken Hill.
Three key prospects for follow-up work including drilling, have been identified: these are Red Hill, Platinum Springs, and Little Broken Hill.
Across at Impact’s Commonwealth project, the company is waiting on assays from rock chip samples taken as follow-up to reconnaissance work on four key targets for porphyry copper-gold mineralisation along trend from and close to the Boda-Kaiser porphyry copper-gold discovery and where follow-up drilling by Alkane Resources is in progress.
Impact’s four targets are Boda South, Apsley, Spicers Creek and Greenobbys.
The company has also identified one new target area, Gladstone, along trend to the south of the prospects Bodangora and Lady Ilse, recently identified by Magmatic Resources (ASX: MAG).
“We are excited to be returning to explore at Broken Hill and Commonwealth where Impact has generated some highly prospective targets for currently high-priced precious metals and where followup work including extensive drilling, is required,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.
“The company is busy designing drill programs at Red Hill and other prospects at Broken Hill to follow-up the exceptional grades discovered in our earlier work there.
“This includes drilled grades of up to 250 grams per tonne or nearly nine ounces per tonne of palladium, together with very high-grades of platinum and even exceptional levels of the rare PGMs, rhodium, currently at US$9,500 per ounce, osmium, iridium and ruthenium.
“At Commonwealth, Impact has identified five targets close to the recent Boda-Kaiser discover with potential for porphyry copper-gold mineralisation.
“We are awaiting assays from rock chip samples to help prioritise follow-up work, which will include soil geochemistry surveys and ground geophysics to identify targets that will be drilled after Broken Hill.”