Follow up exploration is in progress at four recently identified priority prospects for large porphyry copper-gold deposits at Impact Minerals Limited’s 100 per cent-owned Commonwealth project in Lachlan Fold Belt in New South Wales, Australia.
|Spicers Creek Prospect: Sample GNO7 – smoky quartz vein with bornite (purple), malachite (green) and azurite (blue)|
The prospects were identified from recent reconnaissance field checking, new rock chip assays and interpretation of regional magnetic data. This work was prompted by the recent discovery of significant porphyry copper-gold mineralisation at Boda by Alkane Resources Limited and where follow up drilling is in progress.
At Boda, which lies immediately along trend from Impact’s Boda South target, a significant intercept of 502 metres at 0.48 g/t gold and 0.20 per cent copper was returned which included a higher grade ‘core’ of 108 metres at 1.06 g/t gold and 0.41 pe cent copper.
Alkane’s announcement reveals the gold-copper mineralisation and related alteration minerals are strongly zoned adjacent to, and within, the parent porphyry intrusion, called the Boda Intrusive Complex (BIC). Additionally, the high-grade gold copper zone contains magnetite (in skarn-related alteration) that can be identified in regional magnetic data. The entire porphyry-mineralisation complex is about 500 metres wide.
The four prospects identified are Boda South, Greenobbys, Apsley and Spicers Creek.
All four are characterised by features suggesting they form parts of large porphyry or other intrusive-related copper-gold system.
A significant gold-in-quartz vein system was previously identified by Impact in the south east corner of the target area. This vein system, which has not been drilled, extends over at least 500 metres east-west and rock chip samples returned up to 9 g/t gold, 215 g/t silver and lesser copper together with highly elevated values of the pathfinder metals molybdenum, bismuth and tellurium.