News: Impact Minerals receives speculative buy from Perth broker, page-111

http://www.*.com.au/companies/news/...multi-metals-strike-at-broken-hill-65245.html


Dr Mike Jones, managing director, commented:

"This is an outstanding outcome for Impact’s shareholders.

"The Red Hill Project continues to deliver exceptional drill results and we have also now been able to greatly simplify the previous complex metal rights ownership that we inherited when acquiring this project only two and a half years ago.

“Also, considering that this is only the second prospect, together with Platinum Springs, in the entire 35 kilometre trend of the project to have been drilled to any significant degree and that both have delivered very high grade nickel-copper-PGE assays, is testament to the exploration potential of our project."

Jones also said that the challenge now is to understand the controls on this mineralisation and look to extend the zone of interest along trend and at depth below 50 metres.

"We look forward to re-starting drilling as soon as possible.”


Analysis

Exceptional platinum group metals, gold, copper, nickel and silver results from Red Hill have delivered a near five-fold rerating for Impact since April this year.

But this could be just the beginning.

A well-funded Impact will be re-starting drilling as soon as possible, and will therefore deliver strong near-term news flow.

If results such as today's continue, then Impact may be on the cusp of a world-class discovery.

This potential has already been identified by Andrew Forrest’s Squadron Resources, with the group agreeing to invest up to $7.3 million to fund the company’s aggressive exploration plans.