Proactive Investors - Run By Investors For Investors

Impact Minerals drilling for gold and nickel-copper-cobalt at Mulga Tank project

The program is one of several Impact is conducting across its Australian projects.
Impact Minerals drilling for gold and nickel-copper-cobalt at Mulga Tank project
The Mulga Tank project at night

Impact Minerals Ltd (ASX:IPT) has begun reconnaissance aircore drilling testing for gold as well as nickel-copper-cobalt mineralisation at its Mulga Tank project 200 kilometres northeast of Kalgoorlie.

The program will test five targets for gold and three for nickel-copper-cobalt, all of which were identified in magnetic and gravity data in conjunction with drill results from Impact and previous explorers.

The company has also completed an 8-hole diamond drill program at its Commonwealth project in NSW and has drilling ongoing at its Clermont project in Queensland.

 

Previous Mulga Tank work showed that the mineralisation style in the greenstone belt is similar to that hosting 1 million tonnes of contained nickel at Perseverance and more than 2 million tonnes at Mt Keith, both near Leinster.

The project area also occurs in the same geological terrain as the recently discovered Gruyere deposit, containing more than 5 million ounces of gold.

Two of the gold targets are conceptual analogues for Gruyere-style gold mineralisation, with gold in quartz veins within a layer parallel to granite intrusion.

The other three targets occur over notable deflections in structures and with evidence of anomalous gold from previous explorers.

The three nickel targets were identified as prospective for komatiite and dunite-hosted nickel sulphide mineralisation.

READ: Impact Minerals gets drilling underway at prolific epithermal gold-silver belt

Impact is nearing completion of a drilling program to test five target areas for vein-hosted gold mineralisation at its Clermont project, 30 kilometres south of Clermont in central Queensland.

A total of 14 reverse circulation (RC) drill holes for 2,190 metres are complete, with a further four RC and two diamond holes requiring drilling.

The project is in the southern part of the Drummond Basin, a prolific epithermal gold-silver belt which hosts several world-class deposits such as Pajingo, Mt Leyshon and Mt Wright.

Targets were identified based on anomalous soil and rock chip geochemistry and induced polarisation ground geophysical anomalies, along with previous drill results.

READ: Impact Minerals hits multiple massive sulphides at Commonwealth project

Impact has completed an 8-hole diamond drill program at the Commonwealth project 100 kilometres north of Orange, with all holes intersecting varying widths of massive and semi-massive sulphide mineralisation.

The final two holes were undertaken at Commonwealth South, testing the down-plunge extension of a previous high-grade assay which intercepted 7 metres at 25.5 g/t gold, 62 g/t silver, 3.8% zinc and 1.6% lead.

The first intersected 2.5 metres of semi-massive pyrite and zinc sulphide with lesser lead sulphide from about 96 metres downhole.

The second intersected about 10 metres of vein and stringer mineralisation with narrow zones of semi-massive sulphide from about 96 metres downhole.

READ: Impact Minerals completes sale of conglomerate gold project in WA’s Pilbara Region

Impact recently finalised the sale of its Pilbara Gold Project in WA to Pacton Gold Inc, with the TSX Venture Exchange approving the transaction.

The company is also drafting a definitive agreement for a proposed joint venture with TSX:V-listed Bluebird Battery Metals covering the Broken Hill project in NSW.

View full IPT profile View Profile

Impact Minerals Ltd Timeline

Related Articles

1539953338_lithium-100118-2.jpg
October 20 2018
Montero Mining already has an attractive lithium portfolio in Namibia
West Musgrave project in Western Australia on a map
April 18 2019
JV partners CZI and Oz Minerals aim to confirm the West Musgrave project's potential with a Nebo-Babel PFS.
The central processing plant for Lance Uranium Projects
March 26 2019
The Australian USA-uranium producer is targeting lower cost extraction methods at its project.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use