Impact Minerals teaming up with IGO to launch drilling at the Broken Hill multi-metal JV

Wed 16 Nov 22, 12:35pm (AEST)
A photograph of a drill rig stained with Pindan dirt underneath a blue sky pictured in an outback setting
Source: iStock

Key Points

  • IGO and Impact will team up to drill two diamond drillholes at the Broken Hill ‘Platinum Springs’ project
  • JV partnership is seeking gold, and nickel-copper sulphides, as well as other materials
  • Impact drilled the area in 2016, finding high sulphide grades; IGO expertise set to bolster process

Impact Minerals (ASX:IPT) is gearing up to launch the first wave of drilling at its polymetal Broken Hill (or ‘Platinum Springs’) project in NSW, which sees the microcap saddle up alongside IGO (ASX:IGO) in a JV.

The Broken Hill project is named after a silver-lead-zinc mine 20km to the west; the acreage is prospective for platinum group elements, nickel, copper, gold, and silver. 

IGO has secured a drill rig on short notice, allowing Impact to fit drilling at Broken Hill into the last leg of the 2022 calendar year. 

Two diamond drillholes will be perforated at first, sniffing out electromagnetic anomalies interpreted to be possible nickel-copper sulphides. The rig will specifically go after the Yellowstone prospect; the EM campaign in question that got us here was carried out by IGO. 

Previous success on-site

Back in 2016, Impact uncovered high-grade sulphides in a drill core it sunk at the project, intersecting 0.6m packed full of platinum (11.5 grams per tonne of ore, or 11.5g/t), 25.6g/t palladium, 1.4g/t gold, 7.6% copper, and 7.4% nickel.

Impact describes the acreage underlying the project to be poorly explored and not well understood. Mineralisation appears, at first glance, to be erratic and discontinuous; but Impact states its 2021 drilling activities identified a channel-like structure boasting high grades of nickel and copper. 

High-grade nickel and copper sulphide is worth noting, given that both materials are set to become more in-demand due to EV battery supply chains

Sulphide-type mineralisation is widely considered the superior type of geological nickel-copper deposit to refine into a battery-ready product downstream. 

Great to be back 

“It will be great to be drilling at Broken Hill again,” Impact Minerals MD Dr. Mike Jones said.

“The EM conductor identified by IGO is of a significant size and has a similar conductance to the high-grade massive nickel-copper-PGM sulphide we discovered at Platinum Springs.”

“The anomaly lies within a major structure that may have been a feeder zone for the entire Moorkai Trend and it is a compelling target we are looking forward to testing.”

Impact's three month charts
Impact's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Impact was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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