| ASX ANNOUNCEMENT | Date: 23rd January 2015 Number: 390/230115 |
Assays from diamond drill hole RHD006 from Impact Minerals Limited's (ASX:IPT) maiden drill programme at the Red Hill Prospect near Broken Hill in New South Wales, have confirmed the discovery of a near surface 25 metre thick zone of mineralisation that contains high grade Platinum Group Metals (PGM) together with nickel and copper (Figure 1, Tables 1 and 2).
The new assays define an Upper and Lower Zone of mineralisation that returned:
Upper Zone: 5.2 m at 1.1% copper, 1.6% nickel, 3.4 g/t Pt-Pd-Au and 7 g/t silver from 54.2 m Lower Zone: 13.8 m at 1.1% copper, 0.3% nickel, 6.3 g/t Pt-Pd-Au and 10 g/t silver from 63.2 m within a broader intercept of bulk mineable width of:
25.5 m at 0.8% copper, 0.6% nickel, 4.3 g/t Pt+Pd+Au and 7 g/t silver from 52.0 m down hole.
 Figure 2. Massive sulphide with nickel and copper from 58 m |
The newly discovered mineralisation in RHD006, which includes a 0.5 m wide zone of massive sulphide with nickel and copper sulphides (Figure 2) occurs above the recently reported high-grade copper-nickel-platinum group element (PGE) mineralisation from RHD001 that returned an intercept of: 32 metres at 1% copper, 0.5% nickel, 3.9 g/t Pt+Pd+Au and 10.6 g/t silver from 46 m down hole (Table 1). Within this intercept in RHD001 there are three higher grade zones of veins and breccias, two of which can be correlated with the mineralised zones in RHD006 (Figure 2 and announcement dated 17th December 2014). The two zones in RHD001 returned best intercepts of: Upper Zone: 5.1 m at 1.9% copper, 0.9% nickel, 6.2 g/t Pt-Pd-Au and 18 g/t silver from 57. 3 m. Lower Zone: 4.2 m at 2.6% copper, 0.5% nickel 10.6 g/t Pt-Pd-Au from 71.6 metres The Upper Zone is more nickel rich and interpreted to be associated with a folded portion of the ultramafic unit mapped at surface. The Lower Zone is associated with a second ultramafic unit and is very copper and PGE-rich with assays up to 15 % copper and 17 g/t Pt-Pd-Au over 0.2 m. The copper, nickel and PGE grades appear to be increasing in width and grade at depth and the mineralisation is open at depth and along strike. Importantly it appears that mineralised zones dip at a shallow angle to the south and are close to true width (Figure 1). Impact recently earned an 80% interest in the rights to nickel-copper-PGE mineralisation in the Broken Hill Project from Golden Cross Resources Limited (GCR). The Red Hill drill programme is partly funded by a grant of $125,000 under the N.S.W. State Government's Co-operative Drilling Funding Programme. |
OTHER HOLES
Assays from RHD002, RHD003 and RHD004 have also confirmed the presence of very anomalous grades of PGM, copper and nickel within the host ultramafic unit. Assays RHD002 returned:
Holes RHD003 and RHD004 returned broad intercepts of anomalous PGM:
These PGM assays are strongly anomalous and indicate that the original ultramafic magma was pregnant with extremely high levels of PGM. This is an ideal situation for the formation of a high grade deposit.
Next Steps
The drill programme at Red Hill is now finished. Three of the drill holes, RDH001, RDH003 and RDH005, have been cased in preparation for down-hole geophysical surveys to try and identify further drill targets at depth. These are expected to commence within a few weeks.
The drill intercepts in RHD001 and RHD006 are the first significant drill intercepts of nickel and copper within Impact's project area away from the high grade drill intercept of 2 m at 6.1% nickel, 4.5% copper, 10.9 g/t platinum and 23.6 g/t palladium in fresh sulphide discovered some years ago by previous explorers at the Platinum Springs prospect some 15 km to the north east. There are many strike kilometres of the same ultramafic host rock that contain high grade nickel-copper-PGE rock chip assays similar to those at Platinum Springs and Red Hill that have never been drilled. These results at Red Hill confirm Impact's belief that there is potential for a significant discovery near Broken Hill.
For more information, please visit http://doc.irasia.com/listco/au/impactminerals/press/p150123.pdf.
| © Copyright 1996-2019 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |