Impact has proved why it pays to have the 800lb gorilla on your side with partner IGO securing a diamond rig at short notice to carry out drilling at the newly named Yellowstone prospect.

The rig will this week start drilling up to two holes totalling 1,100m to test a large electromagnetic anomaly for high-grade massive nickel-copper sulphides with platinum group metals at the prospect within the Platinum Springs project.

Platinum Springs is located at the southern end of Moorkai Trend, a 9km long ultramafic to mafic dyke and chonolith complex that is very poorly explored.

“It will be great to be drilling at Broken Hill again. The EM conductor identified by IGO is of a significant size and has a similar conductance to the high-grade massive nickel-copper-PGM sulphide we discovered at Platinum Springs,” Impact Minerals (ASX:IPT) managing director Dr Mike Jones said.

“The anomaly lies within a major structure that may have been a feeder zone for the entire Moorkai Trend and it is a compelling target we are looking forward to testing.”

Yellowstone EM anomaly

The EM plate is 1,000m southeast along strike from the main Platinum Springs prospect where previous drilling by Impact returned a narrow intercept of high-grade massive sulphide mineralisation.

Hole PSD002 returned a 0.6m hit at 11.5 grams per tonne (g/t) platinum, 25.6g/t palladium, 1.4g/t gold, 7.6% copper, 7.4% nickel, 44.3g/t silver, 0.16% cobalt, 1.3g/t rhodium, 1.7g/t iridium, 2g/t osmium and 0.8g/t ruthenium from a down-hole depth of 57.1m.

Down-hole EM surveying of the same hole indicated the massive sulphide had a high conductance greater than 5,000 siemens and similar to that modelled for the new conductor.

The new EM conductor has been modelled to have a high conductance of about 8,000 siemens and with the top edge of the modelled EM plate centred at a depth of about 350 metres below surface

Field checking by IGO identified ultramafic and mafic rocks that were possibly related to the target Moorkai Trend intrusion which is much younger than the majority of the rocks at Broken Hill.




This article was developed in collaboration with Impact Minerals, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.