Impact Minerals digging for jam in a zinc doughnut

ASX-listed explorer, Impact Minerals has uncovered what it believes to be “the most prospective targets in its entire portfolio” at the Apsley copper-gold prospect within its Commonwealth project in NSW’s venerated Lachlan Fold Belt.

Following the results of a recent geophysical survey, the Perth-based company is now on the charge towards a fast-tracked drilling program having prioritised the newly identified targets for drilling.

The new induced polarisation, or “IP” geophysical data and previous soil geochemistry data from Apsley enabled the company to identify several drill targets with the potential, it says, for the discovery of a major porphyry copper-gold deposit.

Impact says the IP anomalies occur within the core zone of a 2,000-metre-long by 500m-wide soil geochemistry anomaly dominated by copper, gold, platinum and palladium anomalies.

A total of 14 traverses each about 2,500m long and between 100m and 300m apart were completed, mostly over the core area of the major soil geochemistry anomaly.

The core zone is surrounded by a larger outer zone or halo of zinc, lead and manganese – spanning several square kilometres – that together constitute a “textbook example of a zinc doughnut”. The pattern is well recognised in porphyry copper-gold exploration circles, according to the company.

Impact Minerals Managing Director, Dr Mike Jones said: “These exceptional IP results, in particular the chargeability anomalies, are very exciting given they are coincident with our ‘textbook’ soil geochemistry patterns that are characteristic of those around major porphyry copper-gold deposits around the world.”

“The anomalies start close to surface, extend to considerable depth and appear to link up along trend, thus supporting our contention that the whole area is potentially part of one large mineralised system. These are now the most prospective targets in our entire (project) portfolio, and they warrant immediate drill testing. We aim to drill these compelling targets as soon as we can, and we are certainly very hopeful that we could be about to find the jam in the middle of our zinc doughnut.”

Exploration work undertaken by Impact suggests the Apsley area contains many geological characteristics associated with giant alkaline porphyry copper-gold deposits, with Cadia-Ridgeway and North Parkes two examples in the Lachlan Fold Belt.

The company says it has secured a rig and hopes to start drilling at Apsley early next month. The planned RC drill program will comprise an aggregate coverage of up to 3,000m.

Given Impact’s belief in the potential of these latest targets, all eyes will be on Apsley. Notably, the prospect sits just 20 kilometres south of Alkane Resources’ exciting 2019 Boda copper-gold porphyry discovery.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au