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Impact Minerals Ltd.
Summary
| Project: | Commonwealth | |
|---|---|---|
| Deposit: | Silica Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-12-2017: Impact Minerals Ltd. announces an Exploration/Drilling Update report for its Silica Hill deposit at the Commonwealth project. Drilling results incl. 77.5m @ 0.27g/t Au, 13g/t Ag from 42.5m. Three diamond drill holes, two completed and one stil | |
| Resources: | (Resource, Total): 720000t @ 2.8g/t Au, 48g/t Ag, 1.5% Zn, 0.6% Pb at Commonwealth | |
| CP/QP: | [Overall Report]: Mike Jones (Internal) | |
| ABSTRACT: | Three diamond drill holes, two completed and one still in progress, have all intersected notable widths of veins containing visible silver minerals and indicate mineralisation extends to at least 500 metres down-dip at Impact Minerals Limited’s (ASX:IPT) emerging gold-silver discovery at the Silica Hill Prospect, 100 km north of Orange in New South Wales (Figures 1 and 2). Drill hole 072, which is still in progress, was drilled to test for a significant down dip extension of the gold-silver mineralisation discovered in the Silica Hill rhyolite near surface in Holes 43 and 11 (Figure 1). The hole has intersected an 80 metre thick zone of sulphide from 255 metres down-hole to the current hole depth of 330 metres down-hole. The first 5 metres of the zone comprises numerous narrow veins up to 5 cm thick which contain the distinctive “ruby red” silver mineral proustite together with zinc and copper sulphides (Figure 3). Below this there is a 75 metre thick zone with extensive pyrite and associated anomalous pathfinder metals which occur as disseminations in the wallrock and in numerous narrow veins. All of this is similar to the outer halo of the high grade mineralisation already found to the west and suggest the hole is potentially close to similar high grade mineralisation. In addition the discovery of visible silver minerals is very encouraging and indicates the mineralised system at Silica Hill extends for at least 500 metres down dip from surface (Figure 1). This further confirms Impact’s view that the mineralised system at Silica Hill is very large and as indicated by previous exploration results including soil geochemistry, IP and drill assay data. | |
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