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ASX ANNOUNCEMENT Date: 2 November 2015 Number: 441/021115
FURTHER SIGNIFICANT NEAR SURFACE PGM RESULTS
And
ENCOURAGING ZINC-LEAD-SILVER RESULTS AT RED HILL
Drill Hole RHD014 returns:
3.3 metres at 2.1 g/t platinum, 4.9 g/t palladium and 0.4 g/t gold (7.4 g/t Pt+Pd+Au)
within a thicker zone of
25.4 metres at 0.6 g/t platinum, 1.3 g/t palladium and 0.1 g/t gold (2.0 g/t Pt+Pd+Au)
Drill Hole RHD009 in Broken Hill sequence rocks returns
0.8 metres at 4.1% zinc, 4.6 % lead and 18.6 g/t silver; and
2.9 metres at 2.8% zinc, 0.4% lead and 3.7 g/t silver
within a thicker zone of
82.5 metres at 0.3% zinc, 0.2% lead and 1.5 g/t silver
Drilling in progress to test Target T2 for zinc-lead-silver mineralisation and off-hole EM conductor near extremely high-grade PGM assays in RHD012
Indications of new EM anomaly at depth below RHD012: Follow up down hole EM Survey required.
26 Richardson Street West Perth Western Australia 6005 Tel +61 (8) 6454 6666 Facsimile +61 (8) 6454 6667
Email [email protected] www.impactminerals.com.au
Further high grade platinum group metal (PGM) mineralisation and a first significant intercept of
zinc-lead-silver mineralisation have been returned from Impact Minerals Limited's (ASX:IPT) Red Hill Prospect, part of the Broken Hill Project in New South Wales (Figure 1).
Drill hole RHD014 tested the western part of the ultramafic unit at Red Hill and underlying metasedimentary rocks (Figure 1, Table 1). The hole returned:
25.4 metres at 0.6 g/t platinum, 1.3 g/t palladium and 0.1 g/t gold (2.0 g/t Pt+Pd+Au), 0.3% copper and 0.3% nickel from 11 metres down hole; including
3.3 metres at 2.1 g/t platinum, 4.9 g/t palladium and 0.4 g/t gold (7.4 g/t Pt+Pd+Au), 0.7% copper and 0.6% nickel from 32.4 metres down hole.
The ultramafic In RHD014 was only sampled from 11 metres down hole and mineralisation is open towards the surface. The upper 11metres are being prepared for assay.
The mineralisation occurs within and immediately below the host ultramafic intrusion and also within a layer of metasedimentary rocks several metres thick within the ultramafic. The hole is close to similar near-surface mineralisation intersected in Hole RHD002 (16 metres at 1.4 g/t Pt+Pd+Au, 0.2% copper and 0.3% nickel, see announcement dated 23 January 2015).
Figure 1. Geology and drill hole locations at Red Hill showing the three significant assays of the current drill programme in holes RHD008, 012 and 014. Also shown in red are significant assays or zones of mineralisation identified from logging. Assays are awaited for Holes 013, 015, 016 and 017.
Assays have also been returned from Hole RHD010 drilled to test the north east part of the main Red Hill intrusion (Figure 2). Numerous anomalous platinum and palladium assays of between 10 and 220 parts per billion were returned from the upper 60 metres of the unit. This confirms the relatively high background levels of these metals in these ultramafic rocks, which are normally less than 10 parts per billion in similar rocks around the globe, and is encouraging for the formation of deposits of PGM's.
Figure 2. Geology and drill hole locations in the greater Red Hill area showing significant assays in Holes RHD007 and 009. Note that the intercepts are projected to surface and mineralisation occurs predominantly at the base of or below the ultramafic intrusion.
About the PGM mineralisation at Red Hill
PGM-copper-nickel mineralisation, including the rare PGM's rhodium, iridium, osmium and ruthenium, has now been found from surface to a depth of 50 metres over 50 metres of trend and which is open in several directions (Figures 1 and 3).
The width of the mineralised zones has yet to be established.
Detailed logging of the Diamond drill core is in progress. Significant structural and lithological (rock type) controls on the high-grade PGM-copper-nickel mineralisation have been identified, in particular in
Hole RHD012 (see announcement dated 23 October 2015) that returned (Figure 3):
3.5 metres at 159 g/t (5.3 ounces) 6PGE+gold 2.9% nickel, 2.3% copper and
14.5 g/t silver from 67.3m down hole (50 m below surface) where the 6PGE+gold equals
1.7 g/t rhodium, 2.6 g/t iridium, 2.0 g/t osmium and 1.1 g/t ruthenium 5 g/t platinum, 6 g/t gold, 144 g/t (4.6 ounces) palladium.
The mineralisation is related to dykes of ultramafic rock that have intruded along structures and veins that cross-cut metasedimentary rocks and pegmatites (coarse quartz-feldspar rocks). The fractures and veins that control the higher grade mineralisation are commonly better developed in the more competent pegmatites and detailed logging and mapping of these units is in progress.
Figure 3. Cross section through the Red Hill Prospect.