Impact Minerals Limited Annual Report 2021

BROKEN HILL PROJECT Impact Minerals Ltd Annual Report 2021 9 It is also apparent that the ratio is working over several orders of magnitude and offers a possible vector towards higher grade zones (ASX Release 6 th October 2020). The benefits of the ratio can be seen in Figure 1.2 which is a map of the ratios in the drill holes. It is evident that the ratio has provided vectors to areas of high grade mineralisation such as Plat Central and Plat East and has effectively sterilised other areas such as Plat West. Impact interprets the changes in ratio to reflect changes in specific physico-chemical conditions in the parent ultramafic magma at the time of mineralisation which control the precipitation of the platinum group metals. Impact has demonstrated to its satisfaction that hand-held XRF data is of sufficient accuracy and precision compared to the laboratory assay data that it can be used to calculate the ratio in the field and actively used to guide drilling as the programme progresses. The ratio may offer a method to help overcome one of the main exploration challenges that Impact and all previous explorers have faced for over 40 years at Broken Hill for Ni-Cu-PGM which is to discriminate and rank the numerous high grade rock chip samples and drill intercepts spread over many kilometres of trend that have proved difficult to track with the drill rig. For example, the entire Moorkai Trend, a major 9 km long dyke and chonolith complex in the north east of the project area, has very high-grade nickel-copper-PGM’s in rock chip samples along its entire length (Figure 1.3 and ASX Release 3 rd February 2016). However, extensive drilling has Figure 1.2. Map of the Platinum Springs Prospect showing the best ratio-in-hole value for vertical drill holes. It is evident the ratio (highest numbers in white) has lead to the discovery of coherent zones of higher grade mineralisation.