High hopes for Red Hill
Wednesday, 7th January, 2015
Junior explorer Impact Minerals says it’s even more convinced a significant discovery is near Broken Hill, following more positive drill results.
The company said yesterday that a second drill hole at its Red Hill prospect intersected a 27-metre thick zone containing high grade nickel and copper, as well as a massive amount of sulphide.
It’s the second positive result from Impact’s drill program at Red Hill, a onetime nickel mine about 15km south of Broken Hill that forms part of the Broken Hill Project.
The latest mineralisation occurs above the high-grade copper-nickel-platinum group element mineralisation intercepted by the initial drill hole.
Impact recently earned an 80 per cent interest in the right to nickel-copper-platinum mineralisation in the Broken Hill Project from Golden Cross Resources.
The drill program, which has now finished, was partly funded by a state government grant.
Impact said down-hole geophysical surveys would commence within the next few weeks to try and identify further drill targets at depth.
“The drill intercepts in (the first drill hole) are the first significant drill intercepts of nickel and copper within Impact’s project area away from the high grade drill intercept ... discovered some years ago by previous explorers at the Platinum Springs prospect some 15km to the north east,” the company said in a statement.
“There are many strike kilometres of the same ... host rock that contain high grade nickel-copper-platinum rock chip assays similar to those at Platinum Springs and Red Hill that have never been drilled.
“These results at Red Hill confirm Impact’s belief that there is potential for a significant discovery near Broken Hill.”
Last month Impact said while Red Hill was previously mined in the 20th century, advances in technology might yet yield undiscovered riches.