THE DRILL SERGEANT: Impact Minerals (ASX: IPT) declared exploration breakthroughs at the company’s Broken Hill project in New South Wales.
Impact Minerals explained the breakthroughs were achieved using the company’s proprietary geochemical ratio, enabling it to vector-in towards high-grade nickel-copper and possibly PGE zones.
Using the ratio, Impact has claimed discovery of a continuous zone of elevated ratios at least 80 metres long at both the Plat Central and Platinum Springs East prospects, both mostly between 1 and 2 metres thick but up to 6 metres thick in places and containing high tenor disseminated to blebby (up to 15%) nickel-copper sulphides (pentlandite and chalcopyrite) in places.
The zones are open in all directions.
Impact had identified the two prospects as priority areas for follow up drilling as they contained elevated ratio values, as calculated via hand held XRF, throughout thick units of target ultramafic rock.
“Recent drilling was guided exclusively by the ratio and directly led to the discovery of the zones of significant visual sulphide mineralisation,” Impact Minerals said in its ASX announcement.
“This further confirms the potential of the vector to drive exploration in the area as drilling progresses.”
This drilling included the first two Reverse Circulation (RC) drill holes at Plat Central, PSIPT016 and PSIPT017 that were anticipated to encounter thick zones of modest grade gold+platinum+palladium (3PGE).
The highest values were achieved in hole PSIPT016 which returned:
51 metres at 0.21 grams per tonne 3PGE from 11m downhole, including 8m at 0.6g/t 3PGE from 29m, including 1m at 0.3 per cent nickel, 0.3 per cent copper and 1.5g/t 3PGE from 30m.
49m at 218ppb 3PGE from 21m downhole, including 7m at 0.4g/t 3PGE from 33m, including 1m at 0.8g/t 3PGE from 37m.
A further hole, PSIPT018, did not reach the base of the ultramafic unit because of drill rig limitations, but did however return a zone of modest 3PGE results with the end of hole showing an increase in grade.
31m at 94ppb 3PGE from 129m, including 2m at 0.24g/t 3PGE at the end of hole.
Impact interpreted hole 018 may lie close to the margin of, or actually be within, the main Plat Central channel some 200m down plunge and will now drill this hole deeper with a more appropriate drill rig as soon as practicable.
The company indicated further drilling at Plat Central will be focused on tracking the mineralised channel both up and down dip to determine its trend and possible strike extent and will commence following receipt of the required statutory approvals and initial assays.