Impact’s breakthrough could open up ‘unusual’ Moorkai nickel-copper-PGM trend
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Special Report: Impact Minerals (ASX:IPT) may have ‘cracked the code’ at the high-grade –but geologically complex — Platinum Springs nickel-copper-platinum group element (PGE) prospect in NSW.
Impact has identified a potentially powerful geochemical ‘vector’, or signpost, that intensifies towards higher grade nickel-copper-PGE mineralisation at Platinum Springs, part of the Broken Hill project.
This is a significant technical breakthrough, Impact says.
The explorer has done a considerable amount of in-house research on the nature and origin of the “unusual” rocks that host the exceptional nickel-copper-PGE grades at Broken Hill.
One of the main challenges that Impact and all previous explorers faced at Platinum Springs is discriminating and ranking the numerous high-grade drill intercepts, spread over many hundreds of metres, that have proved difficult to track with the drill rig.
This exploration challenge has discouraged extensive exploration of the broader Moorkai Trend, a major 9km long complex of which has very high-grade nickel-copper-PGM’s in rock chip samples along its entire length.
Impact’s vector may open up the entire trend to further systematic exploration for the first time.
Three main target areas at the southern end of the Moorkai Trend are being tested in Impact’s current program by reverse circulation drilling: Platinum Springs, Plat Central and Plat West.
These areas cover three parts of a significant trend over a distance of about 1500m.
Extra drill holes have been completed and are underway at these target areas with the aim of further determining the efficacy of the vector and its ability to guide the drill rig towards higher grade mineralisation.
Assays are not yet available for these holes, Impact says, and it should not be construed that high PGE grades will necessarily be returned.
Impact will kick off further research on the nature of the vector and its applicability both at Platinum Springs and other prospects.
Assays have been received for 10 of the first 15 drill holes at Platinum Springs, all of which returned anomalous mineralisation.
These are all outside the corridors identified by Impact’s ratio, which means they are potentially outside the most prospective parts of the system.
“They do however further confirm that thick widths of modest grade PGE’s are present over many hundreds of metres in this area which attests to the exceptional background levels of these metals throughout the ultramafic unit,” Impact says.
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.