Impact Minerals Limited (ASX:IPT) is pleased to announce that it has now earned an 87% interest in the rights to copper-nickel-platinum group metal (PGM) mineralisation at the Broken Hill Joint Venture Project in New South Wales.
This follows the Company’s recent discovery of high grade copper-nickel-PGM at the Red Hill Prospect (see announcement dated 23rd January 2015).
Impact’s joint venture partner, Golden Cross Resources Limited (ASX:GCR) is focussed on a development project elsewhere and therefore elected to not contribute to Impact’s recent work programmes. GCR has also elected to not contribute to the follow-up drill programme due to start in the next Quarter. Should Golden Cross dilute to less than a 5% interest then it has to transfer its interest to Impact for $1 (one dollar).
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