Impact Minerals (ASX: IPT) has made what it calls a “technical breakthrough” at its Broken Hill project in New South Wales after identifying a “potentially powerful” vector for nickel, copper, and platinum group elements.
The geochemical vector uncovered two prospective corridors within the Platinum Springs prospect at the project.
Impact Minerals noted the vector increases towards higher-grade nickel, copper and PGE and was identified in multi-element assay data.
Assays from the first 10 drill holes come from outside the two corridors and returned “modest” PGE grades in zones up to 24m wide.
Today’s news of the vector at Broken Hill is based on Impact’s considerable in-house research on the nature and origin of unusual ultramafic and mafic rocks that host “exceptional” nickel-copper-PGE grades.
The research has resulted in Impact developing a proprietary multi-metal ratio that demonstrates an “exceptional” positive correlation with PGE grades and offers a possible vector towards higher grade zones.
Impact has also shown its hand held XRF data is of “sufficient accuracy and precision” compared to laboratory assays to be used to calculate the ratio in the field. This will assist with guiding drilling as the campaign progresses.
Extra drill holes have been completed and are ongoing at the primary Platinum Springs targets.
Impact expects data from these will help with determining the efficacy of its multi-metal ratio and refining drill targets towards higher grade mineralisation.
Notable early drill results
Platinum has received assays from the first 10 out of 15 holes drilled at Platinum Springs.
As previously mentioned, Impact noted these holes lay outside the two prospective corridors now identified at the prospect.
Highest value results were 17m at 321 parts per billion 3PGE from 42m, including 1m at 610ppb 3PGE from 45m and 1m at 963ppb 3PGE from 57m.
Another hole returned 26m at 202ppb 3PGE from 97m, including 1m at 1,510ppb 3PGE from 111m.
In addition to advancing drilling at the two prospective corridors, the company will also target the Red Hill and Dora East prospects.
Impact will also carry out further research on the nature of the vector and its applicability at Platinum Springs and other prospects.