Impact Minerals (ASX:IPT) Identifies Strong EM Conductor at Broken Hill

the market herald2022-03-03
  • Impact Minerals (IPT) discovers an electromagnetic (EM) conductor at the Broken Hill project in New South Wales
  • The large conductor has been identified through ground EM survey work which is being funded by joint venture partner and ASX-listed company IGO (IGO)
  • The EM conductor is located 1000 metres from previously reported massive sulphide intersections and is in proximity to a potential feeder zone
  • Based on this, and its strong conductance of about 8000 siemens, Impact believes the conductor is a prospective target for massive nickel sulphide mineralisation
  • Impact shares are up 16.7 per cent to trade at 1.4 cents

Impact Minerals (IPT) has discovered an electromagnetic (EM) conductor at the Broken Hill project in New South Wales.

The EM conductor was identified through a ground EM survey currently in progress, which is being funded by Impact’s joint venture partner IGO (IGO).

The newly-discovered conductor has been modelled to have a high conductance of 8000 siemens and buried at a depth of roughly 350 metres below surface. It’s about 420 metres long and extends for at least 85 metres down-dip moderately to the south.

Interestingly, the EM conductor lies 1000 metres along trend from a previous drill hole that intersected massive sulphides with similar electrical conductance to the new conductor.

Results from hole PSD002 include 0.6 metres at 11.5 grams per tonne (g/t) platinum, 25.6 g/t palladium, 1.4 g/t gold, 7.6 per cent copper, 7.4 per cent nickel and 44.3 g/t silver from 57.1 metres down hole.

The conductor also lies within a major shear zone believed to be a feeder zone for the ‘extensively mineralised’ nine-kilometre Moorkai Trend.

Overall, Impact believes the EM conductor is a prospective target for massive nickel sulphide mineralisation due to its strong conductance and geometry, as well as it being near a possible feeder structure and previous massive sulphide intersections.

“It is fantastic to have made an early breakthrough on the major EM survey at Broken Hill with our joint venture partner IGO. It is a very compelling target, and we look forward to receiving more results from the EM survey as it progresses,” Impact Minerals Managing Director Dr Mike Jones said.

The company expects the EM survey will take a further three months to complete.

Impact shares were up 16.7 per cent to trade at 1.4 cents at 2:05 pm AEDT.

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