Impact Minerals (ASX: IPT) has unearthed “outstanding” drill results from its Broken Hill nickel-copper-platinum group metal project in New South Wales, including a “stand out” intercept from the Red Hill prospect.
The stand out Red Hill intercept was 138m at 0.3 grams per tonne 3PGM (palladium, platinum and gold) from surface with mineralisation remaining open at depth.
Within that intercept were several higher-grade intervals of 2m at 2.3g/t 3PGM from 75m, and 12m at 1.5gt 3PGM and 0.2% copper from 103m, including 2m at 2.3g/t 3PGM, 0.3% copper and 0.3% nickel from 109m.
Impact claimed the intercept was the “first significant indication” of nickel-copper-PGM mineralisation at the Red Hill intrusion.
At the Red Hill intrusion, 11 other holes were drilled with nine returning “strongly anomalous” and “significant” 3PGM plus copper and nickel in zones ranging from 4m to 33m in thickness.
CSIRO technology helps identify massive sulphide deposits
According to Impact, the mineralisation that has been uncovered occurs in a “chilled margin” of the intrusion where parental magma of the chonolith first cooled as it intruded into the surrounding rock.
The company pointed to recent CSIRO research which has shown chonoliths with chilled margins have a “strong chance” of hosting “significant” massive sulphide deposits.
These massive sulphide deposits are usually found at the base of the intrusion in “throttle zones” or in shallow dipping parts of the intrusion.
Impact has likened the mineralised situation at Red Hill to the Eagle deposits in North America’s Mid-Continental Rift nickel-copper-PGM province.
The Eagle deposit has a resource of 4.6Mt at 3.7% nickel and 3% copper, while Eagle East hosts 1.2Mt at 5.1% nickel and 4.3% copper.
Priority targets at Red Hill
Using this knowledge, Impact believes the deeper part of the Red Hill intrusion which is below the stand out drill intercept is a “compelling priority target”.
To optimise the follow up drilling program, Impact is modelling the magnetic response of the intrusion to determine its geometry.
Drilling at Red Hill will make up part of a major drilling program which will also target Platinum Springs and Little Broken Hill Gabro where final assays are due in the coming weeks.
Impact plans to begin drilling “as soon as practicable” with discussion with contractors underway.