Impact encounters bonanza grades at Commonwealth

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has received more results from the maiden drill program underway at the company’s 100 per cent-owned Commonwealth project located north of Orange in New South Wales.

The company claims the latest results have further extended the high-grade, near surface deposit at Commonwealth South.

Reverse circulation (RC) drill hole CMIPT017 returned:

7 metres at 25.5 grams per tonne gold, 62g/t silver, 3.8 per cent zinc, 1.6 per cent lead and 0.1 per cent copper from 88m down hole (about 50 m below surface).

This intercept included 4m at 41.8g/t (1.3 ounces per tonne) gold, 93g/t silver, 5.5 per cent  zinc, 2.3 per cent  lead from 90m, including 1m at 61g/t (2 ounces per tonne) gold, 140g/t silver, 5.9 per cent zinc, 2.7 per cent lead from 91 m.

This intercept is in fresh rock and lies above a previously reported intercept in CMIPT09 of 5m at 5.3g/t gold, 18g/t silver, 0.8 per cent zinc and 0.2 per cent lead from 94 m and including 1 m at 16 g/t gold, 27 g/t silver, 0.6 per cent lead and 1.3 per cent zinc.

In addition RC drill hole CMIPT014 returned:

21m at 2.9g/t gold, 21.6g/t silver, 1.2 per cent zinc and 0.6 per cent lead from 53m, including 2m at 6.7g/t gold, 61.6g/t silver, 3.8 per cent zinc, 3.2 per cent lead from 53m, including 4m at 6g/t gold, 25g/t silver, 1.4 per cent zinc, 0.3 per cent lead from 72m.

 

Long Section between Main Shaft and Commonwealth South prospects showing
drill hole locations, gold and silver mineralisation, IP anomalies and
Impact’s drill intercepts in yellow boxes. Source: Company announcement

 

“These significant gold results continue to be very encouraging for the discovery of a significant deposit at Commonwealth,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“This is the first systematic drill program beneath the near surface high-grade mineralisation and our intention was to try to define the orientation of the mineralisation in order to allow further step out drilling at depth. This is being achieved.

“The first discovery of massive sulphide mineralisation at Commonwealth South is also very exciting for Impact with the potential for further extensions to the south and at depth.

“Further ground IP and soil geochemistry surveys will commence next month to help define the follow up drill targets.

“In addition our maiden drill program has only tested a very small part of the 20 kilometre long mineralised trend within Impact’s licences and includes the recently recognised and undrilled Doughnut target 2 kilometres to the north.

“This area has strong copper-in-soil responses and is also a priority target for follow up work including the IP surveys.

“Whilst this work is in progress, we will also be preparing for our maiden drill program at the Broken Hill nickel-copper-PGE project for which Impact was awarded this week a grant of $125,000 from the New South Wales Government.

“We have some exciting targets to test at Red Hill.”

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au