Apsley is shaping up as a ‘textbook’ porphyry play for Impact Minerals
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Special Report: Soil geochemistry and airborne magnetic data has indicated that Impact’s entire Apsley prospect might be part of a very large porphyry copper-gold complex.
The data defines what the company calls ‘near-textbook’ examples of metal assemblage zones around major alkalic porphyry copper gold complexes over a 4sqkm area at the prospect within the Commonwealth project in New South Wales’ highly prospective Lachlan Fold Belt.
Impact Minerals (ASX:IPT) noted that this included a central 2,000m by 500m zone of anomalous gold-copper-palladium-platinum – an assemblage that is characteristic of the core areas of alkalic porphyry copper deposits – that covers two magnetic highs that may represent parent target porphyry intrusions.This core is located entirely within a very large outer halo of anomalous zinc-lead-manganese, which is again characteristic of major porphyry copper-gold deposits, that covers at least 3sqkm.
Additionally, two areas adjacent to the core also contain the specific metal assemblages that are expected around and above porphyry zones.
Porphyry deposits can be multi-generational company makers with easy-mining large volumes making up for their lower grades.
Managing director Dr Mike Jones says the results have far exceeded Impact’s expectations.
“The zonation we see, in particular the gold-copper-palladium-platinum association so characteristic of alkalic systems like Cadia and Northparkes, is almost textbook in nature and we now need to define specific targets using IP,” he added.
“The IP survey will commence later this month and any targets identified will be fast tracked for drilling as quickly as practicable.”
Apsley is just one of five prospects identified by Impact for follow-up exploration in the wake of Alkane Resources’ (ASX:ALK) Boda-Kaiser porphyry copper-gold discovery that breathed new life into what was previously considered to be a mature exploration area.
Subsequent work has shown that the Apsley, Spicers Creek and Boda South prospects have significant porphyry copper-gold potential as they have a number of characteristics commonly seen around giant alkaline porphyry copper-gold systems globally.
This story was developed in collaboration with Impact Minerals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.