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Impact Minerals Ltd.
Summary
| Project: | Commonwealth | |
|---|---|---|
| Deposit: | Silica Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-8-2017: Impact Minerals Ltd. announces an Exploration/Drilling Update report for its Silica Hill deposit at the Commonwealth project. Drilling results incl. 20m @ 3.3g/t Au, 53g/t Ag from 149m. An extension of the drill programme is underway at Impact | |
| 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: | An extension of the drill programme is underway at Impact Minerals Limited (ASX:IPT) emerging high grade gold-silver discovery at Silica Hill, part of the company’s 100% owned Commonwealth Project 100 km north of Orange in New South Wales. This follows the receipt of high grade silver assays from Hole CMIPT56 that add to the previously reported thickest and highest grade gold intercept returned thus far from the prospect (see announcement 20th July 2017). Final assays including silver for Hole 56 a reverse circulation (RC) drill hole, have identified a deeper gold-silver rich zone and a shallower silver-rich zone to the mineralisation, similar to that seen in previous drill holes from Silica Hill (see announcement 22nd February 2017). The deeper gold-silver rich zone has returned the following intercepts from about 100 m below surface: 20 metres at 3.3 g/t gold and 53 g/t silver (4 g/t gold equivalent*) from 149 m down hole; including: 15 metres at 4.0 g/t gold and 61 g/t silver (5.5 g/t gold equivalent) from 152 m; which includes: 4 metres at 1.8 g/t gold and 217 g/t silver (4.7 g/t gold equivalent) from 152 m; and: 3 metres at 10.4 g/t gold and 20 g/t silver (10.7 g/t gold equivalent from 160 metres. These results confirm the high grade nature of both gold and silver at Silica Hill and also show there is a broad zonation from gold-rich to silver-rich parts of the large mineralised system. These results and also the extensive silver and base metal-rich veins discovered in Holes 61 and 63, where assays for all metals including gold are still awaited (see announcement 4 th August 2017), has lead to an expansion of the current drill programme by at least a further 500 metres of diamond drilling | |
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