Impact Minerals (ASX:IPT) has estimated a maiden JORC Inferred Resource for its wholly-owned Commonwealth gold-silver-zinc-lead-copper project in New South Wales.
The resource of 720,000 tonnes at 4.7 grams per tonne gold equivalent for a contained 110,000 gold equivalent ounces comprising 2.8 g/t gold, 48 g/t silver, 1.5% zinc, 0.6% lead and 0.1% copper is open along trend and at depth.
It contains both massive sulphide mineralisation at the Main Shaft prospect and disseminated, vein and lesser massive sulphide mineralisation at the Commonwealth South prospect.
It extends from surface to an average depth of 90 metres, has a strike length of 400 metres and is up to 25 metres thick.
A separate Inferred Resource (included within the overall resource) has also been calculated for the massive sulphide lens at Main Shaft alone to demonstrate the high grade nature of such deposits that are the principal target for Impact’s exploration program.
The Main Shaft resource is 145,000 tonnes at 10 g/t gold equivalent for a contained 47,000 gold equivalent ounces comprising 4.3 g/t gold, 142 g/t silver, 4.8% zinc, 1.7% lead and 0.2% copper.
Further resource definition drilling is required in particular at Commonwealth South and Main Shaft.
At Commonwealth South, follow up drilling is required immediately along trend south of drill hole CMIPT017 which returned:
- 7 metres at 25.5g/t gold, 62g/t silver, 3.8% zinc, 1.6% lead and 0.1% copper from 88 metres down hole (about 50 metre below surface) including 4 metres at 41.8 g/t (1.3 ounces per tonne) gold, 93g/t silver, 5.5% zinc, 2.3% lead from 90 metres;
And below drill hole CMIPT014 which returned:
- 21 metres at 2.9g/t gold, 21.6g/t silver, 1.2% zinc and 0.6% lead from 53 metres.
Importantly, these assays come from two separate semi-massive and massive sulphide layers, discovered by Impact for the first time at Commonwealth South, where previously only disseminated and vein-hosted mineralisation was known.
The zones are open at depth and along trend and it is possible that they are at the edge of much larger lenses of high-grade massive sulphide similar to that at the Main Shaft Prospect.
At Main Shaft the massive sulphide lens is still open at depth and in particular to the south east along strike from drill hole CMIPT021 which returned a best intercept of:
- 8.1 metres at 6g/t gold, 193g/t silver, 5.9% zinc, 2.3% lead and 0.16% copper from 71 metres including 2.9 metres at 9.3g/t gold, 201g/t silver, 11.6% zinc, 4.7% lead and 0.25% copper from 74.9 metres down hole.
Follow up IP and ground gravity surveys over the resource area and also over the very prospective Doughnut porphyry copper-gold target identified by Impact 2 kilometres to the north have been completed.
Infill soil geochemistry surveys are also warranted and will be commenced upon the completion of negotiations for land access which are in progress.
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