Impact releases Maiden high-grade Resources at Commonwealth

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) released a maiden Inferred Mineral Resource for the company’s 100 per cent-owned Commonwealth gold-silver-zinc-lead-copper project, located north of Orange in New South Wales.

The JORC Code 2012-compliant Inferred Resource – at a 0.5 grams per tonne gold cut off is:

720,000 tonnes at 4.7g/t gold equivalent for a contained 110,000 gold equivalent ounces, comprising 2.8g/t gold, 48g/t silver, 1.5 per cent zinc, 0.6 per cent lead and 0.1 per cent copper.

The resource, which is open along trend and at depth, extends from surface to an average depth of 90m, has a strike length of 400m and is up to 25m thick.

Impact has also calculated a separate Inferred Mineral Resource (included within the overall resource) for the massive sulphide lens at Main Shaft alone to demonstrate the high-grade nature of such deposits that are the principal target for the company’s exploration program.

The Main Shaft Inferred Resource is:

145,000 tonnes at 10g/t gold equivalent for a contained 47,000 gold equivalent ounces, comprising 4.3g/t gold, 142g/t silver, 4.8 per cent zinc, 1.7 per cent lead and 0.2 per cent copper.

“This maiden gold resource demonstrates the high grade nature of the mineralisation at Commonwealth,” Impact Minerals managing director Dr Mike Jones said in the company’s announcement to the Australian Securities Exchange.

“The fact that it is open along trend and at depth indicates that further drilling could rapidly increase the size and grade of this deposit, in particular with our focus on the discovery of further very high grade massive sulphide bodies like that at Main Shaft.

“The last line of drilling at the southern end of the deposit returned a bonanza grade intercept of four metres at 41g/t gold, 93g/t silver, 5.5 per cent zinc and 2.3 per cent lead in what we hope will be a new gold-rich massive sulphide lens.

“Further drilling should begin in the next Quarter.

“The resource contains just over 1,000 ounces per vertical metre of gold equivalent from surface.

“This is very encouraging for the possible future development of an open pit mine given that such values represent a common threshold for profitable underground mines.”

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au