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Impact Minerals Ltd.
Summary
| Project: | Commonwealth | |
|---|---|---|
| Deposit: | Silica Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-7-2017: Impact Minerals Ltd. announces an Exploration/Drilling Update report for its Silica Hill deposit at the Commonwealth project. Drilling results incl. 14m @ 4.5g/t Au from 153m. The first follow up drill hole at Impact Minerals Limited’s (ASX:IPT | |
| 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: | The first follow up drill hole at Impact Minerals Limited’s (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, has returned the thickest and highest grade gold intercept returned thus far from the prospect. The 14 metre intercept lies within a 40 metre thick intercept with greater than 0.1 g/t gold. Note that only the assays for gold have been received for this intercept. Gold assays for the remainder of the hole together with silver and other metals are expected within three weeks. Impact Minerals Managing Director Dr Mike Jones said: “This excellent intercept further demonstrates the potential for Silica Hill to deliver a signficant discovery and we can draw three signifcant conclusions from it. First, as we have suspected, there are likely to be zones of much higher grade gold in the system to accompany the exceptional silver grades of up to 3,100 g/t already discovered. Secondly, we are seeing signifcant improvements in grade with closer spaced drilling and this offers the opportunity to rapidly increase the ounces of contained gold and silver within the area already discovered. Thirdly, the mineralisation is now open to the north west. These are all very encouraging developments.” | |
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