Impact scales up high-grade PGE-copper-nickel at Platinum Springs
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Impact has defined platinum group element-copper-nickel mineralisation over 1,000m of trend at its intriguing Platinum Springs area in NSW.
And there could be more to come with undrilled gaps of up to 250m and extensive PGE-nickel-copper mineralisation in rock chip samples indicating that numerous Kambalda-style basal channels which host the highest grades, remain to be discovered across the broader 9km long Moorkai Trend.
This comes after Impact Minerals’ (ASX:IPT) drilling intersected high-grade mineralisation in an extension to the basal channel at the Plat Central prospect while discovering a second basal channel that may merge with the first.
Notable results from the extension are 3m at 5.4 grams per tonne (g/t) gold+palladium+platinum (3PGE), 0.9 per cent copper and 1.5 per cent nickel from a depth of 76m which includes 1 metre at 10.3 g/t 3PGE 2.3% copper, 3.3% nickel, 88 g/t silver and 711 ppm cobalt, together with 5m at 5g/t 3PGE, 0.6 per cent copper and 0.6 per cent nickel from 64m.
Meanwhile, the second channel was discovered by hits such as 1m at 2g/t PGE, 0.5 per cent copper and 0.4 per cent nickel and 1m at 4.6g/t 3PGE, 0.2 per cent copper and 0.8 per cent nickel.
Drilling also hit high-grade mineralisation within the host ultramafic unit above the basal channel and a new channel at the poorly drilled Plat East prospect.
The former was discovered by intersections such as 2m at 6.7g/t 3PGE, 2 per cent copper and 1.1 per cent nickel while Plat East drilling returned a 3m intersection grading 2.7g/t 3PGE, 0.4 per cent copper and 0.5 per cent nickel.
All three channels discovered to date remain open along trend.
The Plat Central and Plat East prospects form part of the larger Platinum Springs area at the southern end of the 9km long ultramafic to mafic Moorkai Trend within Impact’s Broken Hill project.
Previous exploration by the company established that high-grade PGE-copper-nickel mineralisation at Platinum Springs commonly occurs as disseminated to massive sulphide mineralisation within Kambalda-style channels at the base of the host ultramafic unit.
These channels were discovered by the company’s use of a powerful, proprietary geochemical ‘vector’, or signpost, which intensifies towards higher grade nickel-copper-PGEs.
It added that many of the drill holes at Plat Central can be “bulked out” to return thick intercepts of lower grade mineralisation throughout the host ultramafic unit.
Impact notes that taken together, these factors support the potential for a larger bulk mining opportunity should further drilling be successful.
The company also believes that numerous Kambalda-style basal channels remain to be discovered along the Moorkai Trend as the basal channels at the world class Kambalda nickel mining district of WA have a ribbonlike geometry that are mostly less than 5-7m thick and 20-100m wide but can extend for many hundreds of metres to several kilometres.
Impact is working on three methods to track the basal channels along trend to areas where they are larger and more continuous.
Work is underway to target large potential structural traps that could control the development of the basal channels using a combination of 3D modelling of the basal contact of the ultramafic, detailed interpretation of magnetic data and field mapping.
An area for priority drilling has already been identified by this work at the marked bend in the Moorkai Trend a few hundred metres west of Plat Central.
Research is also underway on Impact’s proprietary ratio to determine if it can be modified to provide larger scale vectors to high grade mineralisation.
Success may allow drilling to take place at broader and more cost effective drill spacings.
The company is also considering the acquisition of a ground EM geophysical survey to potentially identify further high grade massive sulphide bodies.
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.