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Impact nails two more Boda look-alike targets in NSW

Impact Minerals has added Apsley and Spicers Creek to its inventory of Boda copper-gold porphyry look-alike prospects near Dubbo in NSW. The new targets are contained within Image’s Commonwealth project that lies south of Alkane’s revered Boda and Kaiser porphyry copper-gold discovery in the Lachlan Fold Belt. The company has received assays from its recent reconnaissance rock chip sampling and the results confirm copper-gold mineralisation over several square kilometres in the mineral-rich Lachlan Fold Belt.

Assays of the rock chips recently recovered from Impact’s geological reconnaissance exploration work, which covers both extensive areas of copper-gold mineralization, produced results up to 8% copper at Apsley and a serious 14.4% copper and 6.8 grams per tonne gold at Spicers Creek.

Impact said it has identified five targets along trend with Alkane’s Boda-Kaiser discovery with the Boda South target located only 5km from Alkane’s recent hit.  It has now added Apsley, only 15km further to the south and Spicers Creek is only about 10km east of Alkane’s Boda.  The company is also sitting on the Gladstone prospect that is on trend with Magmatic’s recently announced Lady Ilse target.

The company’s technical team said that the potassium-rich shoshonite host rocks, when coupled with identified pathfinder metal assemblages and associated magnetic geophysical anomalies, all point to a direct indication of significant copper-gold mineralisation at each of Impact’s prospects.

The ongoing market excitement around Alkane and its Boda prospect stems from an uber-large drill intersection at Boda of 502m grading 0.48g/t gold and 0.2% copper from 211m, including 12m at 3.28g/t gold and 0.67% copper from 419m.

A more recent drill intercept more than doubled that figure with an 1,167 m hit going 0.55 g/t gold and 0.25% copper including a higher grade “core” of 96.8 m at 4 g/t gold and 1.5% copper.

Impact Minerals is now gearing up to get back onto its ground in NSW with more airborne geophysical surveys and soil geochemistry programs to fine tune the definition of the prospects ahead of the drilling out of specific targets which should create some market excitement.

Impact Managing Director, Dr Michael Jones said: “These new rock chip assays have confirmed and significantly enhanced our belief that our extensive ground holdings in the Lachlan Fold Belt have the potential to host a major porphyry copper-gold deposit. The data shows two of our key targets have all the hallmarks of a large mineralised system: extensive copper and other metals at surface in rocks of the same age and same geochemistry as those that host the world class deposits at Cadia-Ridgeway and North Parkes.”

“In addition, the rocks show extensive classic patterns of pathfinder metal and alteration mineral assemblages seen around those deposits. It is incredible that there is no drilling at either prospect and we are looking forward to identifying specific drill targets after our follow up airborne and soil geochemistry surveys which will start in May.”

The Boda discovery drove Alkane’s share price from a low of around 20c back May last year to a peak price of $1.16 in February before being massacred by the Coronavirus.

Impact has also run hard in the last couple of weeks with its share price more than doubling from .004c at the end of last month to .009c today.  

If it can even get a sniff of something that looks like Boda, it will be off to the races for Impact.

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

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12thFirefly Resources579%18%
66thDevEx Resources123%65%
171stImpact Minerals34%-14%
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