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- Impact Minerals (IPT) shares are up this morning after in uncovered the “most prospective targets in its entire portfolio” at the Apsley prospect in NSW
- The company has found multiple drill targets from induced polarisation (IP) geophysical data
- These targets have the potential of discovering a major porphyry copper and gold deposit
- Impact now plans on fast-tracking drilling at priority targets within the area and has already secured a drill rig
- Once approvals are received, the company plans on drilling the prospect in early March
- On the market this morning, Impact is up 15.8 per cent and trading at 2.2 cents per share
Impact Minerals (IPT) has found multiple drill targets at its Apsley prospect within the Commonwealth Project in New South Wales.
New induced polarisation (IP) geophysical data has defined numerous drill targets with the potential for the discovery of a major porphyry copper and gold deposit.
The IP survey was completed over a large soil geochemistry anomaly, which includes a core zone 2000 metres long and 500 metres wide.
Eleven IP traverses were completed over the entire soil geochemistry anomaly with a further three traverses completed to the north. These are currently being interpreted.
Impact has chosen the priority targets from the group, which have now been fast-tracked for drilling.
To date, a drill rig has been secured and will commence drilling as soon as approvals are met, which is expected in early March.
“These exceptional IP results, in particular the chargeability anomalies, are very exciting given they are coincident with our “text book” soil geochemistry patterns that are characteristic of those around major porphyry copper-gold deposits
around the world,” Managing Director Dr Mike Jones said.
“These are now the most prospective targets in our entire portfolio and they warrant immediate drill testing,” he added.
On the market this morning, Impact is up 15.8 per cent and is trading at 2.2 cents per share at 11:58 am AEDT.
