THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has commenced a new round of drilling at the company’s 100 per cent-owned Commonwealth project north of Orange in New South Wales.
Impact Minerals is carrying out follow up diamond drill program to test the depth extent of high-grade gold and silver mineralisation at the Silica Hill prospect
The drill holes are targeted at the down dip and down plunge extension of the southern and northen mineralised zones that company identified either side of a recently identified porphyry unit within the Silica Hill rhyolite.
The company outlined the southern mineralised structure has good grade and geological continuity over a strike extent of at least 150 metres and recently returned high-grade gold and very high-grade silver results within the north west trendng part of the zone.
The lower-grade northern mineralised zone also demonstrates continuity and recently returned its thickest zone of mineralisation to date, which Impact has interpreted to suggest that, similar to the southern zone, lower-grade mineralisation is increasing in thickness and grade at depth and also to the east.
Impact declared the Silica Hill results continue to demonstrate the potential for bulk mining and to increase the Resources at the Commonwealth project, which currently stand at 720,000 tonnes at 2.8 grams per tonne gold, 48g/t silver, 1.5 per cent zinc and 0.6 per cent lead.
“The recently identified porphyry unit within the Silica Hill rhyolite is similar in composition to the porphyry unit at the Commonwealth deposit 150 metres to the west which comprises a gold-silver rich base metal massive sulphide lens and veins and disseminations of gold and silver mineralisation,” Impact Minerals said in its ASX announcement.
“This suggests a common link between the two mineralised areas and importantly indicates that this new porphyry unit could be the top of a pipe or sheet like feature that extends to some depth.”