- Impact Minerals (IPT) has uncovered high grades of rare platinum group metals (PGM) at its Red Hill Prospect in NSW
- These high-grade PGM’s come from previously drilled diamond holes that were only assayed for palladium and platinum
- 12 of the 13 holes also returned strong results of gold, silver, copper, and cobalt
- Seven of these holes were then selected for a full-scale analysis for further PGM’s
- All seven holes drilled returned significant results such as 147 grammes per tonne silver, 29.7 grammes per tonne palladium, and 19.2 grammes per tonne platinum
- The high-grade nature of these results suggests that it is likely the remaining five holes also contain a similar grade and a follow-up program has been planned to test this
- Impact is steady on the market this morning and shares are trading for 0.9 cents each
Impact Minerals (IPT) has uncovered high grades of rare platinum group metals (PGM) at its Red Hill Prospect.
The Red Hill Prospect is situated within Impact’s Broken Hill Project in New South Wales.
PGM’s are the six precious metallic elements that are grouped together on the periodic table and they include ruthenium, rhodium, palladium, osmium, iridium, and platinum.
They tend to have similar chemical and physical properties and generally occur together in the same deposits.
They can be used in hard-wearing metal alloys, catalytic converters (exhaust emission that reduces toxic gasses), and electronics.
These high-grade PGM’s come from previously drilled diamond holes that were only assayed for palladium and platinum.
A total of 12 of the 13 holes also returned strong results of both these elements and significant grades of gold, silver, copper, and cobalt.
Seven of these holes were then selected for a full-scale PGM analysis for gold, rhodium, iridium, osmium, palladium, platinum, and ruthenium.
These holes were selected because they intersected extensions of a previously reported intercept that returned results such as 144g/t palladium, 14.5g/t silver, 6g/t gold, 5.7g/t rhodium, 5g/t platinum, 2.6g/t iridium, 1.1g/t ruthenium, 2.9 per cent nickel, and 2.3 per cent copper.
All seven holes drilled returned significant PGM’s and returned results such as 147g/t silver, 29.7g/t palladium, 19.2g/t platinum, 2.1g/t gold, 1.2g/t iridium, 0.9g/t rhodium, 0.9g/t osmium, 0.5g/t ruthenium, 12.2 per cent copper, and 0.5 per cent nickel.
The high-grade nature of these results suggests that it is likely the remaining five holes also contain a similar grade.
A follow-up program has been planned.
Impact is steady on the market this morning and shares are trading for 0.9 cents each at 10:25 am AEST.