THE DRILL SERGEANT: Impact Minerals (ASX: IPT) stood up to report a stand out drill intercept achieved from the Red Hill prospect at the company’s Broken Hill nickel-copper-PGM project in New South Wales.
Impact Minerals drilled hole RHIPT034 to test a soil geochemistry anomaly along the southern contact of the Red Hill chonolith, which returned:
138 metres at 0.3 grams per tonne 3PGM (Pd+Pt+Au) from surface.
This intercept included several higher-grade intercepts of:
2m at 2.3g/t 3PGE from 75m, and 12m at 1.5g/t 3PGM and 0.2 per cent copper from 103 metres, including:
2m at 2.3g/t 3PGM, 0.3 per cent copper and 0.3 per cent nickel from 109m; and
2m at 1.1g/t 3PGM and 0.2 per cent copper from 135m.
Impact explained the result has, for the first time, demonstrated that the chonolith-shaped (tube-like) ultramafic intrusion at the Red Hill body hosts substantial thicknesses of disseminated PGM+/-copper+/-nickel mineralisation close to surface.
The intercept is open at depth and this is now a priority target area for follow up drilling.
Five other holes from the 2020 drill program also encountered intercepts in the chilled margin.
The term ‘chilled margin’ refers to the contact zone between a parent intrusion and the surrounding rock.
“Follow up drilling is clearly required to test the Red Hill intrusion at depth,” Impact Minerals said in its ASX announcement.
“To help optimise drill hole locations, modelling of the magnetic response of the intrusion to determine its geometry is currently underway using the extensive magnetic susceptibility data Impact has collected during its drill programs.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE