Impact Minerals (ASX: IPT) has confirmed the discovery of two channels prospective for high-grade nickel-copper and possibly platinum group elements (PGE) at its Broken Hill project in New South Wales.
The channels, each measuring at least 80m long, were discovered at the Plat Central and Platinum Springs East prospects through the use of the company’s proprietary geochemical ratio designed to actively guide drilling.
The zones are open in all directions, Impact reported.
At Plat Central, the channel comprises a “re-entrant” structure of high tenor disseminated to blebby (up to 15%) nickel-copper sulphides that is between 1-7m thick and at least 25m wide.
Further interpretation of the channel discovered at Platinum Springs East is still in progress.
The two prospects were recently identified as priority areas for drilling as they contained elevated ratio values, as calculated from handheld XRF data, throughout thick units of the target ultramafic rock. The highly elevated ratio numbers indicate PGEs are likely to be present, although assays are pending.
Impact said recent drilling was “guided exclusively by the ratio and directly led to the discovery of the zones of significant visual sulphide mineralisation”.
Thick zones of modest-grade gold plus platinum and palladium (3PGE) were predicted by the ratio within the first two reverse circulation holes at Plat Central.
Both holes have now returned thick intercepts of the metals. The best intersection from the first hole was 51m at 0.21 grams per tonne 3PGE from 11m depth including 8m at 0.6g/t 3PGE from 29m which contained 1m grading 0.3% nickel, 0.3% copper and 1.5g/t 3PGE from 30m downhole.
The second hole intersected 49m at 218 parts per billion 3PGE from 21m depth including 7m at 0.4g/t 3PGE, containing 1m at 0.8g/t 3PGE from 37m.
“This further confirms the potential of the vector to drive exploration in the area as drilling progresses,” Impact said.
According to the company, all of the results to date confirm the potential of Platinum Springs to host a nickel-copper-PGE deposit.
Impact’s next steps involve further drilling at Plat Central focusing on tracking the mineralised channel both up and down dip to determine its trend and possible strike extent.
This is anticipated to begin once statutory approvals are received, and initial assays if possible. Assays are expected by mid-November.
Some drill holes will now be surveyed, and cased for downhole electromagnetic surveys, then the rig will move to the Little Broken Hill Gabbro to fast-track progress of a current RC drilling program.
Samples from four earlier drill holes at Platinum Springs, which were part of a previously reported missing batch of samples, have been re-sampled and submitted for assay.