Hoping for sudden impact
Monday, 29th September, 2014
By Michael Murphy
Impact Minerals is poised to embark on an exciting drilling program near the old Red Hill mine site, about 15km south of Broken Hill.
Red Hill was mined for nickel and copper between 1906 and 1937 at the surface and underground from a shaft about 36 metres deep.
Old mine records indicate that about 500 tonnes of ore was mined from four parallel lodes, each one to two-and-a-half metres wide.
"They would have stopped mining the shaft once they hit the water table," said Impact Minerals Managing Director Mike Jones, adding that a major exploration company also cast an eye over the site last century.
"CRA had an attempt to drill there in the 1960s, but failed to intersect the mineralised structure at depth," he said.
Impact Minerals acquired the site last year and enlisted local geologist Wolf Leyh to study soil samples and map the area.
"The area around Broken Hill has been long known for high platinum and palladium anomalies," Dr Jones said.
"We have generated some very exciting high-grade anomalies that require drill testing.
"We are very much looking forward to getting going.
"Hopefully we will be up and running in November."
Impact Minerals has four drilling targets with "very significant" rock chip and soil sampling results.
The drilling program is still subject to state government approval, but the project has been funded.
The exploration company was this month awarded a $125,000 dollar-for-dollar grant under the State Government's New Frontiers Cooperative Drilling program.
"New Frontiers" encourages private exploration drilling programs in the search of mineral deposits in areas of NSW not fully explored and uses the latest technology.
"Finding more minerals is critical to the long term energy and economic future of NSW," said Executive Director of Geosciences, Brad Mullard.
"Resource royalties help fund services such as hospitals, schools and roads."