Impact Minerals Hits Best Gold Result to Date at Silica Hill

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) announced the thickest and highest grade gold intercept returned to date from the company’s 100 per cent-owned Commonwealth project, located near Orange in New South Wales.

Impact Minerals said the intercept was achieved in the first follow up drill hole to be drilled at the emerging high-grade gold-silver discovery at Silica Hill.

Hole CMIPT56, a reverse circulation (RC) drill hole, returned an intercept of:

14 metres at 4.5 g rams per tonne gold from 153m down hole, including 3m at 10.5g/t gold from 160m down hole.

Impact Minerals said the 14m intercept lies within a 40m thick intercept with greater than 0.1g/t gold.

The company made note that only the assays for gold have been received for this intercept, adding that gold assays for the remainder of the hole together with silver and other metals are expected within three weeks.

“This excellent intercept further demonstrates the potential for Silica Hill to deliver a significant discovery and we can draw three significant conclusions from it,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“First, as we have suspected, there are likely to be zones of much higher-grade gold in the system to accompany the exceptional silver grades of up to 3,100 grams per tonne already discovered.

“Secondly, we are seeing significant improvements in grade with closer spaced drilling and this offers the opportunity to rapidly increase the ounces of contained gold and silver within the area already discovered.

“Thirdly, the mineralisation is now open to the north west.

“These are all very encouraging developments.”

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au