Impact identifies new drill priorities at Commonwealth project

THE DRILL SERGEANT: Impact Minerals (ASX:IPT) has defined two new priority areas for follow up drilling at the company’s 100 per cent-owned Commonwealth project in New South Wales.

These two areas have been defined from gold-and silver-in-soil anomalies and assays from rock chip samples and lie within a 2.5 kilometre long mineralised structure Impact recently identified.

 

Geology and Soil and Rock Chip results from the Commonwealth-Silica Hill area. Source: Company announcement

 

Impact explained that known high-grade mineralisation discovered in previous drilling between the Commonwealth Mine (Main Shaft) and Commonwealth South Shaft has now been clearly defined by a north-west trending zone of anomalous gold, silver and arsenic-in-soil results.

“This trend extends for a further 300 metres north of Main Shaft and contains several previously unknown old mine shafts identified by Impact which are up to 35 metres deep,’ the company said in its ASX announcement.

A grab sample of weathered material from one of the shafts 75 m north of Main Shaft returned an assay of 102 g/t gold (3.5 ounces) and 591g/t silver (19 ounces), which Impact claims confirms the presence of high-grade gold and silver along this part of the trend.

The second anomaly at Silica Hill also returned assay results for molybdenum, antimony, mercury, selenium and the rare metal thallium (with no base metals).

“This metal assemblage may be characteristic of epithermal gold-silver mineralisation, which has not been previously recognised in this area,” Impact said.

Within this trend is a stronger gold and silver-in-soil anomaly with up to 0.5g/t gold and 23g/t silver.
Impact said the silver results in particular are important as they indicate this to be another priority area for drilling.

 In recent months Impact has completed a small Induced polarisation Survey and SAM-ground magnetic survey over the Commonwealth-Silica Hill area.

“The results of these surveys have recently been received and are being interpreted,” the company said.

“In addition the results of a further soil geochemistry survey completed by Impact over the area between Commonwealth and north of Coronation have also been received and are being interpreted.

“The results of all this work will be integrated to identify drill targets for a program of RC and diamond drilling due to start in June, subject to statutory approvals and weather conditions.”

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au