A highly conductive body that is at least 100 metres long lying close to two drill holes containing high grade nickel-copper-platinum group elements (PGE’s) has been identified at Impact Mineral’s Platinum Springs Prospect at Broken Hill, NSW.
Alongside the high grade drill assays reported in Australia, drilling is set to recommence after further hole surveys occur from 9th November onwards.
A down hole EM survey close to two drill holes returned very high grade assays from units of massive sulphide at the base of the host ultramafic rocks.
The Platinum Springs area has previously been surveyed by both ground EM and down hole EM surveys, which failed to identify a new conductor due to poor survey specifications and used a much weaker current transmitter than what is available today.
At 45 metres, Hole DD4 returned: 2 metres at 10.9 g/t platinum, 23.6 g/t palladium, 0.9 g/t gold, 6.1 per cent copper, 4.5 per cent nickel and 35 g/t silver. 47 metres returned 2.3 metres 8.4 g/t platinum, 3.6 per cent copper and 3 per cent nickel.
From surface to depth of 50 metres, the Red Hill Prospect has found rare PGM’s including rhodium, iridium, osmium and ruthenium. The width of the mineralised zones has yet to be established.
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.
Hole RHD019 has established that the strike of one of the main ultramafic units is NE. 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.