Impact Minerals Encounters High-Grade Gold and Highest Silver to Date at Silica Hill

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) declared high-grade gold and very high-grade silver assays from the southern mineralised zone at the company’s emerging gold-silver discovery at the Silica Hill prospect, north of Orange in New South Wales.

Impact Minerals explained the assays came from three diamond drill holes, and claimed that the grades of gold and silver, particularly the gold, are increasing with depth below surface.

Assays from CMIPT077 returned:
22.5 metres at 1.7 grams per tonne gold and 276g/t silver from 166.7m down hole, including 0.3m at 1.8g/t gold and 4200g/t (135 ounces or 0.42%) silver from 174.4m, including 0.8m at 13.6g/t gold and 40g/t silver from 187.7m.

Impact Minerals said the results confirm the southern mineralised zone to be a steeply dipping mineralised vein system that trends east-west and is open down dip and down plunge to the south east.

The continuity of the gold and silver mineralisation from surface was confirmed from further assays returned from the other two diamond drill holes which were drilled up dip of CMIPT077.

21.8m at 0.6g/t gold and 273g/t silver from 137.9m down hole, including 0.5m at 0.5g/t gold and 1,485g/t (48 ounces) silver from 143m, and
0.4m at 1.6g/t gold and 6240g/t (200 ounces or 0.62%) silver from 148.5m.

75.3m at 0.4g/t gold and 62g/t silver from 75m down hole, including 10.8m at 1.4g/t gold and 243g/t silver from 134m, which includes 4.3m at 2g/t gold and 566g/t silver from 134m, and including 0.3m at 6.9g/t gold and 1,485g/t silver from 136m.

Impact Minerals said the results, together with previously reported results from Holes CMIPT011 and CMIPT043 confirm the continuity of gold and silver mineralisation in the southern zone from surface to about 200m true depth and over a strike length of 150m.

“These results are an exciting further breakthrough for us at Silica Hill as they indicate the mineralised system is getting better at depth and to the east,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“The silver grades and minerals within the vein system we have discovered are exceptional and confirm the unique nature of this deposit in Australia.

“These are the highest assays returned so far at the project and they occur within robust zones of mineable width and grade.

“We are excited for the 2018 exploration program.”