- Impact Minerals (IPT) has begun drilling at its Commonwealth Project in the Lachlan copper-gold province of New South Wales
- The 3000-metre program will test multiple anomalies which were found after an induced polarisation (IP) survey at the Apsley prospect
- The anomalies lie within a single, larger soil geochemical anomaly — supporting Impact’s belief that Apsley is part of one major mineralised system
- Additionally, the anomalies seem to have similarities to porphyry copper-gold deposits such as Newcrest Mining’s (NCM) Cadia-Ridgeway deposit
- Company shares are trading in the grey at 2.3 cents
Impact Minerals (IPT) has begun drilling at its Commonwealth Project in the Lachlan copper-gold province of New South Wales.
Reverse circulation (RC) drilling is testing multiple induced polarisation (IP) geophysical and soil geochemistry anomalies at the Apsley prospect.
These anomalies were found in mid-February following an IP survey undertaken at the Apsley prospect.
“These are now the most prospective targets in our entire portfolio and they warrant immediate drill testing,” Managing Director Dr Mike Jones said at the time of the discovery.
All of the IP anomalies lie within a single 2000-metre by 500-metre soil geochemical anomaly and support the company’s belief that the whole prospect is part of one large mineralised system.
The copper-gold-platinum-palladium anomaly may also have similarities to major porphyry copper-gold deposits such as Newcrest Mining’s Cadia-Ridgeway.
The 3000-metre RC program will focus on five priority traverses that show correlations between the IP and soil geochemistry results.
Impact hasn’t given any details on how long the drilling program will take.
Company shares are trading in the grey at 2.3 cents at 1:11 pm AEDT.