As part of the new 2020 focus on PGM-nickel-copper exploration at Broken Hill,
Impact will contribute the rights to silver-lead-zinc Broken Hill-style mineralisation and other associated styles of mineralisation to the Alliance.
Impact will retain the rights to all of the platinum group metals (palladium-platinum-rhodiumosmium-iridium-ruthenium) as well as associated nickel-copper and other precious and associated metals across its entire tenement holding in the region.
Two key terms of the non-binding MOU are: 1. It is an initial six-month agreement to market the Alliance's ground holding to potential strategic partners, with the marketing to be led by
If a suitable partner is found, then the three parties will form a special purpose vehicle (SPV) which will acquire the relevant tenements and metal rights from the three parties in return for equal shareholdings (33.3% each) in the new SPV company.
Further information can be found in the attached announcement from
Impact Minerals Managing Director, Dr
'As we move towards the follow up drill campaign it is important that we focus our exploration funds on the platinum group metals and therefore we are delighted to have signed this MOU with
About the
The new 2020 campaign will build on previous work by Impact and others in the Broken Hill area which discovered some of the highest grades of all six
At Red Hill, exceptional grades were returned from drilling by Impact including a stand-out intercept of: 1.2 metres at 254 g/t (9.5 ounces) palladium, 10.4 g/t platinum, 10.9 g/t gold, 7.4% nickel, 1.8% copper, 19 g/t silver, 0.5% cobalt, 4.6 g/t rhodium, 7.2 g/t iridium, 5.6 g/t osmium and 3.1 g/t ruthenium (ASX Announcement 26th October 2015).
A total of 12 out of 13 of Impact's drill holes at Red Hill returned robust widths and grades of similar mineralisation within 70 metres of surface. The mineralisation is open along trend and at depth and follow-up drilling to test for extensions to this remarkable mineralisation is being planned. In addition, additional assays for rhodium, iridium, osmium and ruthenium from previous drill sample pulps are being organised. These metals were not previously routinely assayed for because of prohibitive cost.
At
At Little Broken Hill, a mafic-ultramafic intrusive complex extends over 7 very poorly explored kilometres and yet contains numerous soil geochemistry, RAB drill hole, VTEM and rock chip anomalies that are priority areas for follow-up work (ASX Announcement
Contact:
Tel: (61 8) 6454 6666
Email: info@impactminerals.com.au
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