- Impact Minerals (IPT) will this week begin an 1100-metre diamond drill program at the Yellowstone prospect within its Broken Hill project in NSW
- The company recently secured a diamond rig at short notice and plans to drill two holes to test an electromagnetic conductor
- Joint venture partner IGO (IGO) discovered the conductor earlier this year and will be funding the drill program
- IPT shares closed grey at 0.7 cents
Impact Minerals (IPT) will this week begin an 1100-metre diamond drill program at the Yellowstone prospect within its Broken Hill project in NSW.
The company said it recently secured a diamond rig at short notice and plans to drill two holes to test a “significant” electromagnetic conductor identified by joint venture partner IGO (IGO).
IGO found the conductor during a ground EM survey earlier this year and will be funding the drill program.
Newly named Yellowstone sits within the Platinum Springs project area, at the southern end of a nine-kilometre-long ultramafic-to-mafic dyke and chonolith complex known as the Moorkai Trend.
“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 Managing Director 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.”
In February 2016, Impact drilled one kilometre along-strike from the EM plate, with one hole returning a narrow intercept of 0.6 metres at 11.5 grams of platinum per tonne (g/t), 25.6 g/t palladium, 1.4 g/t gold, 7.6 per cent copper, 7.4 per cent nickel, 44.3 g/t silver, 0.16 per cent cobalt, 1.3 g/t rhodium, 1.7 g/t iridium, 2.0 g/t osmium and 0.8 g/t ruthenium from 57.1 metres.
Modelling has shown the new EM conductor has a high conductance of around 8000 siemens and lies around 350 metres below the surface with a length of around 420 metres, extending at least 85 metres down dip.
IPT shares closed grey at 0.7 cents.