Impact Minerals Adds Further Targets to Commonwealth Drill Program
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) described newly-identified drill targets at company’s 100 per cent-owned Commonwealth project, located north of Orange in New South Wales as “compelling”.
Impact Minerals said new drill targets have been identified along the eastern, upper contact of the Silica Hill Rhyolite.
The company explained that, until now, its exploration has been mostly focussed at the Main Shaft-Commonwealth SouthSilica Hill prospects up to one kilometre away on the lower, western contact of the Silica Hill Rhyolite and the underlying thinner Commonwealth Rhyolite.
Here, Impact has discovered high-grade gold-silver-base metal mineralisation it has interpreted to be part of a so-called ‘gold-rich Volcanogenic Massive Sulphide (VMS) system’ with strong similarities to the Eskay Creek deposit in Canada.
“However, certain features within these rhyolites and the associated mineralisation suggest that the area explored to date could be part of a much larger and very prospective high grade ‘feeder zone’ that extends for one kilometre north east through the Silica Hill Rhyolite up to its eastern upper contact with overlying volcanic rocks,” Impact Minerals said in its ASX announcement.
“In addition, the position where the interpreted feeder zone intersects the upper contact is an excellent conceptual target for further gold-rich VMS mineralisation and…geophysical and soil geochemical anomalies support this interpretation and have provided specific drill targets close to or at this location.”
Impact said that detailed research and development completed over the past few years, supports the feeder zone model and these concepts will be further tested in the upcoming drill program.
Impact has identified many follow up drill targets in and around the general Commonwealth-Silica Hill area.
The company said a large drill program to test these new anomalies and also at Welcome Jack will commence on the completion of a Share Purchase Plan, which is currently underway.
Email: info@impactminerals.com.au
Website: www.impactminerals.com.au