Impact Minerals kicks off new drilling at Commonwealth

THE DRILL SERGEANT: Impact Minerals has commenced a drill program at the company’s 100 per cent-owned Commonwealth project, located 95 kilometres north of Orange in New South Wales.

The program will comprise reverse circulation (RC) and diamond drilling and is to test a number of targets Impact has identified at four prospects: the Commonwealth deposit, Silica Hill, Welcome Jack and Doughnut.

The targets were identified in geological, geochemical and geophysical data sets Impact has collected and compiled over the past 12 to 18 months and in particular as areas of variably overlapping gravity, Induced Polarisation (IP) and soil geochemistry anomalies.

One diamond hole has already been completed to test a small EM conductor at the southern end of the Commonwealth deposit.

According to the company, this hole intersected vein and disseminated mineralisation over a width of six metres at the upper contact of a main rhyolite unit.

Impact described the intersection as being visually similar to base metal mineralisation it has previously encountered in other holes at Commonwealth South.

“Assays are expected in four to six weeks,” Impact Minerals said in its ASX announcement.

“Massive sulphides were not intersected in the hole and the source of the EM conductor has not been found and a down hole EM survey will be required.

“The survey will be completed together with other holes towards the end of the drill program.

“A second diamond drill hole is in progress to test the down dip extension of the centre of the Commonwealth deposit.

In the same announcement, Impact declared it has raised $250,000 via a Placement of approximately 10.4 million shares at 2.4 cents per share to a sophisticated investor arranged by Patersons Securities Limited.

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au