THE DRILL SERGEANT: Impact Minerals (ASX: IPT) is completing a review and synthesis of previous exploration data and mapping by the Geological Survey of Western Australia (GSWA).
Impact Minerals applied for nine new 100 per cent-owned Exploration Licences earlier this year, covering approximately 1,300 square kilometres of ground it considers prospective for conglomerate-hosted gold in the Pilbara region of Western Australia.
The company’s review of the GSWA material is focusing on what it believes to be the two most prospective conglomerate horizons within the Fortescue Group.
These are the conglomerates of the Hardey Formation that hosts the Beatons Creek resource (6.4 million tonnes at 2.7 grams per tonne gold for 558,000 ounces of gold) held by Novo Resources Corporation near Nullagine, and conglomerates at the base of the Mt Roe Basalt., which contains the recent gold discovery at Purdeys Reward-Comet Well by Novo Resources and Artemis Resources.
Impact said that field checking and previous mapping indicates prospective conglomerates occur over at least 90 kilometres of trend at or close to surface within the company’s licence applications, in particular to the west and east of Marble Bar as well as close to the Beatons Creek deposit near Nullagine.
West of Marble Bar, previous exploration in the district has highlighted gold occurrences associated with the conglomerate horizons on and along trend from Impact’s licence applications ELA45/4972 and ELA45/4971, where four main gold-bearing conglomerate occurrences with similar characteristics to those that occur within the Witwatersrand Basin of South Africa have been discovered.
“We were recently privileged to visit the Purdeys Reward-Comet Well area with Novo Artemis and have seen first-hand the reasons why it had not been discovered before, the potential scale of the discovery and also the difficulties of exploring and sampling for this style of deposit,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.
“It is evident that there is a wide range in size and distribution of gold within these conglomerates and it is this that has hampered previous exploration for this style of mineralisation.
“We are now determining the most appropriate sampling methodologies for our on-ground exploration which will commence in earnest on grant of the licences.”
Impact made its move to the Pilbara following the discovery of gold in conglomerates at the base of the Fortescue Group by Artemis Resources and its subsequent Joint Venture with Novo Resources Corporation.
Impact considers this discovery has indicated a breakthrough had been made in the search for conglomerate hosted gold deposits of a similar age to the Witwatersrand Basin of South Africa in the Pilbara.