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- Impact Minerals’ (IPT) share price is in the green after receiving the first drill results for its Little Broken Hill Gabbro (LBHG) within the Broken Hill Project in NSW
- Drilling was undertaken in three areas within LBHG, which includes Rockwell, Western Contact and Central Little Broken Hill
- Results have confirmed the highly prospective nature of LBHG, confirming the potential of the underexplored area
- Follow up drilling is expected to commence by the end of the quarter
- On the market today, Impact Minerals is up 10.5 per cent and is trading at 2.1 cents per share
Impact Minerals’ (IPT) has further confirmed the highly prospective nature of Little Broken Hill Gabbro (LBHG) within its Broken Hill Project in NSW.
The company has received new drill assays from the first pass reconnaissance drilling at three areas within LBHG, confirming the potential of the underexplored area.
Drilling was undertaken at Rockwell, Western Contact and Central Little Broken Hill.
At Rockwell significant platinum group elements (PGE), copper and nickel mineralisation within the LBHG has now been shown to be up to 60 metres thick, extend to a depth of at least 150 metres from surface and for at least 1500 metres along trend.
Mineralisation is increasing in thickness and grade depth and results include six metres at 0.5 per cent copper, 0.4 per cent nickel and 0.3 g/t 3PGE from 154 metres.
At the Western Contact prospect, three widely spaced drill holes also returned anomalous PGE-copper mineralisation over a one kilometre trend.
Results from this prospect include 16 metres at 500 parts per million copper and 0.2 g/t 3PGE from 83 metres.
And lastly, the Central LBHG prospect identified anomalous copper and 3PGE centred over a possible “feeder zone.”
“These results continue to confirm our belief that the LBHG may potentially contain a vast reservoir of PGE’s and possibly nickel and copper,” Managing Director Dr Mike Jones said.
“We have to remember that this is the first-ever drill programme to test the basal ultramafic unit and yet every drill hole that has intersected it has returned some level of mineralisation. It is evident that there is very significant potential along the entire length of the 6.5-kilometre-long intrusion,” he added.
Follow up drilling is expected to commence by the end of the quarter, with approvals for the planned drill holes are already in place.
On the market today, Impact Minerals is up 10.5 per cent and is trading at 2.1 cents per share at 1:23 pm AEST.
