Impact Minerals returns copper-nickel-PGE in first-ever drilling at Broken Hill Project

Impact Minerals Limited (ASX:IPT) has discovered anomalous copper-nickel-PGE (gold+palladium+platinum) mineralisation over a distance of at least 1,500 metres in first-pass reconnaissance drilling at the Rockwell prospect, part of the Broken Hill Project in New South Wales. Impact’s drill program is the first-ever drill program to depth anywhere at the Little Broken Hill Gabbro (LBHG) prospect and therefore these initial scout drilling results are considered to be very encouraging for the discovery of a Jinchuan-style deposit in the area. Although assays from key drill holes are still awaited, new assays and hand-held XRF data indicate the mineralisation appears to be increasing in thickness and grade from north to south into a priority target area interpreted as potential ‘feeder zones’ to the main LBHG prospect. The mineralisation occurs mostly in an ultramafic unit at the base of the prospect and confirms the highly prospective nature of the entire six-kilometre-long intrusion for magmatic nickel-copper-PGE sulphide deposits as predicted from Impact’s previous work in the area. Assays awaited Impact has completed 28 drill holes at Rockwell for 2,412 metres and laboratory assays for the first 13 holes are reported for the first time with significant intercepts. Assays from the remaining holes, which includes all the important drill holes with visible disseminated sulphide, will be available in early January 2021. A further 41 drill holes for 3,286 metres have also been completed in the central part of the LBHG with assays awaited. Assay results The results to date show an overall general increase in thickness and grade of copper and nickel mineralisation together with an increase in the strength of the ratio from north to south towards the postulated feeder zones. The widespread occurrence of anomalous copper, nickel and PGE mineralisation along at least 1,500 metres of the strike of the LBHG at Rockwell indicates that there is a very large inventory of those metals contained within the basal ultramafic unit of the intrusion. The abundance and grade of the mineralisation appear to be increasing both to the south and at depth. Next Steps Extensive follow-up drilling is clearly required at Rockwell and in all likelihood other places within the LBHG. A large amount of new data has been generated from the extensive drill programs now completed at Broken Hill and a significant number of assays are still outstanding from all four prospects: LBHG, Platinum Springs, Red Hill and Dora East. A detailed interpretation of all of this data in context is required to prioritise areas for follow up drilling and a strong news flow into January is anticipated. Drilling will resume as soon as practicable in the first quarter of 2021 and discussions are in progress with drilling contractors to determine timing and cost.