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- Impact Minerals (IPT) expects its NSW projects to be disrupted for the remainder of the year due to the COVID-19 lockdown
- The company will turn its focus to its Doonia gold project and Arkun nickel-copper-platinum group element project, both in WA
- The news comes as the company also announced it has uncovered a halo of copper at the Apsley Project in NSW
- While encouraging, IPT said the results aren’t definitive enough for immediate follow up drilling, and plans to undertake further studies on the area
- Shares are down 3.85 per cent to trade at 1.3 cents at 11:10am AEST
Impact Minerals’ (IPT) NSW projects have been disrupted by the current COVID-19 lockdown in the state.
The company said the situation is preventing any further on-ground work at its two key NSW-based projects, Commonwealth and Broken Hill.
It expects the disruption will last until the end of the year, curtailing any further activity in NSW, including planned drilling at Broken Hill.
The news comes as the company also announced it has uncovered a halo of copper while drilling at the Apsley Prospect within the Commonwealth Project.
IPT has been undertaking wide-spaced reconnaissance drilling across the prospect which is located in the Lachlan copper-gold province of the state.
Specifically, fourteen drill holes were completed in the central part of the prospect over one square kilometre and IPT said these holes have returned the most encouraging results which define the copper halo.
The intercepts averaged grades of 100 to 200 parts per million copper, with associated molybdenum, and alteration said to be typical of a porphyry copper-gold system.
While encouraging, the company said the results aren’t as definitive as is required for immediate follow up drilling, and plans to conduct further, deeper drilling in several areas.
However, before conducting additional drilling, IPT said further studies on the nature and composition of the alteration is required to determine whether more accurate vectors to the system’s core can be identified.
Moving forward, the company has turned its focus to progressing its proposed drill program at the Doonia gold project in the goldfields region of WA.
IPT has secured the necessary environmental approvals secured, and the required heritage survey is scheduled for September. Additionally, the company said advanced discussions are in progress to secure a drill rig.
Over at the Arkun nickel-copper-platinum group element project also in WA, Impact has received most of the soil geochemistry survey results and said an interpretation of the data is in progress with on-ground follow up planned for next month.
Shares dropped 3.85 per cent to trade at 1.3 cents at 11:10 am AEST.
