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Impact Minerals Ltd.
Summary
| Project: | Commonwealth | |
|---|---|---|
| Deposit: | Silica Hill | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 9/2/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-9-2016: Impact Minerals Ltd. announces an Exploration/Drilling Update report for its Silica Hill deposit at the Commonwealth project. Drilling results incl. 48.6m @ 137g/t Ag, 0.5g/t Au from 122m (2.5g/t AuEq.). Exceptional silver grades together with g | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mike Jones (Internal) | |
| ABSTRACT: | Exceptional silver grades together with good grades of associated gold have been returned from a 48 metre thick zone of mineralisation at the emerging Silica Hill discovery within Impact Minerals Limited’s (ASX:IPT) 100% owned Commonwealth Project, 100 km north of Orange in New South Wales. The mineralised zone in Hole CMIPT011 is comprised of numerous narrow high grade and bonanza grade sulphide veins that are up to 40 cm thick as well as disseminated sulphides within the rock surrounding the veins. Both the veins and the surrounding rock contain extensive visible silver minerals and lesser zinc and lead sulphides (see announcement 19 th August 2016). The overall intercept for Hole CMIPT011 is: 48.6 metres at 137 g/t silver (4.4 ounces) and 0.5 g/t gold from 122 metres down hole, or 2.5 g/t gold equivalent*. The zone has an upper silver rich part and a lower gold rich part (Figure 1). Impact Minerals’ Managing Director Dr Mike Jones said: “These exceptional silver grades and associated good gold grades indicate that grade is increasing as we get deeper into this unusual and unique deposit. We have believed for some time that the mineralisation discovered so far lies at the top of a system that may have considerable depth extent. To get grades this good in this particular part of the system is very encouraging for further high-grade mineralisation at depth. We look forward to further drilling as we continue in our search to uncover what lies beneath Silica Hill”. | |
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