Impact Minerals Reports Further Significant PGM Results at Red Hill

Impact Minerals (ASX:IPT) reported additional drill results from its Red Hill prospect at its Broken Hill project in New South Wales, Australia. Highlights included 3.3 meters of 2.1 grams per tonne of platinum, 4.9 grams per tonne of palladium and 0.4 grams per tonne of gold within a zone of 25.4 meters of 0.6 grams per tonne of platinum, 1.3 grams per tonne of palladium and 0.1 grams per tonne of gold.
As quoted in the press release:

Further high grade platinum group metal (PGM) mineralisation and a first significant intercept of zinc-lead-silver mineralisation have been returned from Impact Minerals Limited’s (ASX:IPT) Red Hill Prospect, part of the Broken Hill Project in New South Wales (Figure 1).
Drill hole RHD014 tested the western part of the ultramafic unit at Red Hill and underlying metasedimentary rocks (Figure 1, Table 1). The hole returned:
25.4 metres at 0.6 g/t platinum, 1.3 g/t palladium and 0.1 g/t gold (2.0 g/t Pt+Pd+Au), 0.3% copper and 0.3% nickel from 11 metres down hole; including
3.3 metres at 2.1 g/t platinum, 4.9 g/t palladium and 0.4 g/t gold (7.4 g/t Pt+Pd+Au), 0.7% copper and 0.6% nickel from 32.4 metres down hole.
The ultramafic In RHD014 was only sampled from 11 metres down hole and mineralisation is open towards the surface. The upper 11metres are being prepared for assay.
The mineralisation occurs within and immediately below the host ultramafic intrusion and also within a layer of metasedimentary rocks several metres thick within the ultramafic. The hole is close to similar near-surface mineralisation intersected in Hole RHD002 (16 metres at 1.4 g/t Pt+Pd+Au, 0.2% copper and 0.3% nickel, see announcement dated 23 January 2015).

Click here for the full press release.