Special Report: Impact has identified the potential for two of its key targets in the Lachlan Fold Belt to host significant porphyry copper-gold deposits.

New rock chip assays showed that many of the key geochemical components required to form a large porphyry deposit were present at both the Apsley and Spicer Creek prospects.

Impact Minerals (ASX:IPT) says these include extensive areas of Ordovician aged shoshonite and related high potassium rocks that are key components of the Cadia Ridgeway and Northparkes deposits as well as the host rocks at Alkane Resources’ (ASX:ALK) Boda discovery.

READ: The Lachlan Fold Belt is shaping up to be elephant country and its only just beginning

“These new rock chip assays have confirmed and significantly enhanced our belief that our extensive ground holdings in the Lachlan Fold Belt have the potential to host a major porphyry copper-gold deposit,” managing director Dr Mike Jones said.

“The data shows two of our key targets have all the hallmarks of a large mineralised system: extensive copper and other metals at surface in rocks of the same age and same geochemistry as those that host the world class deposits at Cadia-Ridgeway and North Parkes.

“In addition, the rocks show extensive classic patterns of pathfinder metal and alteration mineral assemblages seen around those deposits.”

Location of Impact’s Commonwealth, Pine Hill and Day Dawn projects
Location of Impact’s Commonwealth, Pine Hill and Day Dawn projects Pic: Supplied

Apsely and Spicers Creek were identified by Impact from work prompted by Alkane’s discovery of Boda late last year.

Apsley is a 2sqkm target that has not been previously drilled, with work indicating that a major copper mineralised system is present at the prospect, potentially sourced from a buried porphyry intrusion that lies only a few hundred metres from surface.

Meanwhile, Spicers Creek is a 1,000m by 200m target that is northeast of the Commonwealth project and comprises a number of intriguing magnetic anomalies within Ordovician and Devonian volcanic and intrusive rocks.

The company has also identified three other priority areas and is currently awaiting assay results from its rock chip sampling.

Impact plans to carry out a detailed airborne magnetic and radiometric geophysical survey in May over all five targets to better define structures and potential skarn mineralisation.

At this time, the company will also complete a soil geochemistry survey program over the Apsley target to help define specific drill targets.

NOW READ: Explainer: Why are so many explorers chasing a porphyry payday?


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.