Impact Minerals ready to up exploration ante in NSW
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has set off a major ramp-up in exploration and development activity on its two flagship base and precious metals projects in New South Wales.
The increased focus comes as the company looks to quickly build on its string of high-grade discoveries on the projects over the past 18 months.
Impact has lodged two new exploration licence applications, expanding its exploration footprint sevenfold to 517 square kilometres at its Broken Hill project, located south and east of Broken Hill in NSW.
Impact has been busy carrying out technical work on the nature of the high-grade platinum group metal (PGM)-copper-nickel mineralisation and high-grade zinc-lead-silver mineralisation it has discovered at various prospects within the project, including Red Hill, Dora East and Platinum Springs.
This has identified the new licence areas as being prospective for similar styles of mineralisation.
A new three-tiered work programme across the whole project is now in progress.
Further east in the Lachlan Fold Belt, Impact is also completing final preparations for a new drill program in the April-June Quarter at its 100 per cent-owned Commonwealth gold-silver-base metals project located 100 kilometres north of Orange.
A program of Reverse Circulation (RC) and diamond drilling will test a number of geophysical and geochemical targets.
“The major expansion of our ground position at Broken Hill is a robust opportunity for Impact and its shareholders to significantly increase exposure to this very richly mineralised part of Australia,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.
“Our recent work has suggested there is significant potential in the newly acquired licences to host the same two styles of high-grade mineralisation that we have discovered in our original tenements, including very high-grade PGM-nickel-copper such as at Red Hill and Platinum Springs as well as very high-grade zinc-lead-silver or so called ‘Broken Hill-style mineralisation’ at Dora East.
“Amazingly, given how close our new ground is to Broken Hill, these areas have mostly been very poorly explored.
“Given the advances and discoveries Impact has made in a relatively short period of time on our existing licences, we are obviously very hopeful of continued success on this new ground.
“In addition we are in the final stages of preparing a drill program at Commonwealth, which is an absolute key project for us due to our success in quickly generating a significant number of high quality gold and base metal targets that could provide a platform for the discovery of new deposits as well as targeting potential extensions to the resource we defined last year of 720,000 tonnes at 2.8 grams per tonne gold, 48g/t silver and 1.5 per cent zinc.”
Email: info@impactminerals.com.au
Website: www.impactmnerals.com.au