Impact extends Commonwealth drilling
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has taken the decision to carry out a further 500 metres of RC and diamond drilling in the maiden drill program being conducted at the company’s 100 per cent-owned Commonwealth project, located near Orange in New South Wales.
Impact Minerals explained the decision came after earlier drilling had encountered indications of sulphide mineralisation.
The drill program is testing a number of targets Impact had identified as being prospective for high-grade gold-silver base metal mineralisation at the project’s Main Shaft, Commonwealth South and Silica Hill prospects as well as the Coronation Trend.
A total of 1,800m of drilling has been completed so far, although progress has been hampered by excessive water flow in a number of RC holes that prevented them reaching target depth.
These holes are being completed by diamond drilling, which the company explained is slower than RC drilling.
“The sulphide mineralisation intersected in the drill holes shows a good correlation with Induced Polarisation anomalies identified by Impact in a small ground geophysical survey over Main Shaft Commonwealth South and Silica Hill,” the company said in its ASX announcement.
“These anomalies are open along strike both to the north and south.
“Accordingly it is planned to extend the survey in both directions.
“In addition, given the correlation of the IP anomalies with sulphide mineralisation, further survey lines are warranted along the Coronation Trend and the Doughnut prospect where significant soil geochemistry anomalies indicate potential for disseminated sulphide mineralisation associated with copper-gold skarn and porphyry copper-gold deposits.
“The IP surveys are planned for September.”
Impact has completed down-hole MMR (SAM) and EM surveys on the first two diamond drill holes.
The company said the initial indications are that the MMR technology has identified mineralisation at Main Shaft and Commonwealth South, adding the technique had demonstrated promise for the identification of new targets at depth.
Interpretation of the data is in progress with first assay results are expected shortly.
Email: info@impactminerals.com.au
Website: www.impactminerals.com.au