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Impact Minerals Reveals More Platinum, Palladium And Gold At Red Hill

Impact Minerals (ASX:IPT) has intersected further high-grade platinum group metal (NYSEARCA:PGM) mineralisation, along with the first significant intercept of zinc-lead-silver mineralisation at the Red Hill prospect.

The prospect is part of the company's Broken Hill Project in New South Wales.

Drill Hole RHD014 highlights: 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).

This is 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).

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 earlier in the year in Hole RHD002: 16 metres at 1.4 g/t Pt+Pd+Au, 0.2% copper and 0.3% nickel.

Zinc-lead-silver

Impact has now made its first significant intercept of zinc-lead-silver at Red Hill.

Drill hole RHD009 highlights: 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.

This is within a thicker zone of 82.5 metres at 0.3% zinc, 0.2% lead and 1.5 g/t silver.

The hole was drilled to test a modest gravity anomaly immediately north west of the main Red Hill intrusion, and intersected the lower contact of the ultramafic unit with an underlying (footwall) sequence of metasedimentary rocks.

These included garnet bearing units, amphibolites and pegmatites.

Drilling is in progress to test Target T2, an EM conductor interpreted to be down dip of mineralised Broken Hill sequence rocks at surface.

Impact said that the prospectivity of the Red Hill area for zinc-lead-silver mineralisation will be assessed following completion of the current drill program.

Analysis

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.

In May, drilling at Red Hill delivered: 1 metre at 1g/t rhodium, 1.3g/t osmium and 1.2g/t iridium, defining rare PGEs in a wide arc stretching from the northeast to the southeast of the Broken Hill township.

Rare PGE's are known to command premium prices as they are used in many specialist hard-wearing metal alloys, electronics and for catalytic converters.

Impact is still establishing the width of the mineralised zones, but today's results highlight that they are growing.

News flow will continue in the near-term, as detailed logging of the diamond drill core is still in progress.

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