Impact Minerals identifies new targets at Silica Hill and Commonwealth
THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has completed a re-interpretation of Induced Polarisation (IP) ground geophysical data at the company’s 100 per cent-owned Commonwealth gold-silver-zinc-lead-copper project, north of Orange in New South Wales.
The review has identified three new targets at the Silica Hill prospect and two new targets close to the Commonwealth deposit.
At Silica Hill two of the targets are close to previous encouraging drill results, including 20 metres at 41 grams per tonne (1.3 ounces of silver) and associated with a large and strong multi-metal soil geochemistry anomaly.
Of the two new targets identified close to the Commonwealth gold-silver-zinc-lead deposit, one supports a possible depth extension to the resource in an ore shoot interpreted from drill assay data, while the second new target identified 200m west of the resource.
Impact said it intends drilling the Silica Hill and Commonwealth prospects together with the Welcome Jack and Doughnut prospects once it has closed off a current Share Purchase Plan it currently has underway.
The company explained the IP method being applied is principally used to identify zones of disseminated sulphide where stronger IP anomalies usually indicate zones of more intense sulphide development.
Impact has discovered disseminated sulphides at all but one of the IP anomalies drill tested to date at the project.
The other anomaly has yet to be explained.
“An interpretation of ground gravity data, induced polarisation data and soil geochemistry data is in progress at the Doughnut and Welcome Jack prospects,” Impact Minerals said in iit ASX announcement.
“Initial indications are that further drill targets will be identified.
“A program of up to 3,000 metres of Reverse Circulation and diamond drilling will test a significant number of targets within these four prospects and is scheduled to start following the closure of the recently announced Share Purchase Plan on 9 May 2016.
“In addition a ground gravity survey has recently been completed that has extended coverage to about eight square kilometres centred on the Commonwealth deposit.
“This data is being processed ready for interpretation.”
Email: info@impactminerals.com.au
Website: www.impactminerals.com.au