Impact Minerals Drills Further Evidence of Silica Hill Mineralised System

THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) is preparing to commence the next phase of drilling at the company’s 100 per cent-owned Slate Dam gold project in the Eastern Goldfields of Western Australia.

Aruma Resources said the second phase of drilling at Slate Dam will commence in April and will consist around 30 reverse circulation (RC) drill designed to follow up from the maiden drilling program completed in February, which resulted in the discovery of a new gold system at Slate Dam.

The drilling will also target new areas to the northeast of the earlier drilling with the aim of discovering new gold zones in potential repetitions of the mineralised sequence, where the mineralisation will be closer to the granites and grades are predicted to be higher.

Aruma indicated drill targeting for this component of the program will be guided by results from a soil geochemical program to be undertaken before the drilling commences.

“The results of the first phase drilling are significant and have confirmed Aruma’s sediment hosted gold exploration model for Slate Dam,” Aruma Resources said in its ASX announcement.

“The addition of historic drill results from the project has further validated and strengthened the company’s model.

“The intersections and the outcrop assay demonstrate that the shoots will likely be close to surface.

“This may impact on the testing methods and result in reduced drilling costs in order to delineate JORC Resources at the Slate Dam project.”


THE DRILL SERGEANT: Impact Minerals (ASX: IPT) revealed new drill assays and detailed studies on core from the Silica Hill prospect at the company’s 100 per cent-owned Commonwealth project north of Orange in New South Wales.

Impact Minerals declared the latest results further demonstrate the large scale and high-grade nature of the mineralised system in the area.

Impact completed drilling hole CMIPT72, the eastern most hole it has drilled to date at the emerging high-grade gold-silver discovery at Silica Hill.

The hole intersected two zones of strong silica-sulphide alteration with anomalous gold and silver values over a combined thickness of more than 200 metres downhole, including a high-grade gold and silver vein within the upper zone, which the company interpreted to indicate potential for more veins nearby in particular to the south.

The upper zone in Hole CMIPT72 returned:

46 metres at 0.04 grams per tonne gold and 5g/t silver from 200m downhole, including 0.4m at 2.5g/t gold and 327g/t silver from 257.2m.

The lower zone returned:

67m at 0.3g/t gold and 1g/t silver from 402m downhole.

Additional detailed studies conducted on drill core demonstrated the two east-west trending mineralised structures at Silica Hill become more north west-south east orientated to the east and that the Silica Hill rhyolite is more extensive at depth to the south than previously recognised.

“Following the recent discovery of high-grade gold and very high-grade silver veins at Silica Hill, these new results are a further breakthrough for Impact as it demonstrates the system extends over an area of at least 500 metres by 500 metres in dimension and also to considerable depth,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“We are also recognising different units within the Silica Hill rhyolite that are an important control on the mineralisation and may also be the upper parts of a deep rooted intrusion that could be mineralised over a significant vertical extent.

“This augers well for our 2018 drill program.”