Impact Minerals (ASX:IPT) is expecting assays next week from the most recent two diamond drill holes completed at the Silica Hill prospect within the Commonwealth project in New South Wales.
The discovery at Silica Hill was made last year and featured intersections including 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres.
Drilling has yielded grades of up to 3,600 g/t silver and 23 g/t gold.
In addition, results from soil geochemistry and induced polarisation surveys have recently been received and are being interpreted to prioritise areas for follow-up drilling.
Elsewhere, an electromagnetic survey will commence next week at Impact’s Broken Hill nickel-copper-PGE project.
Drilling at Silica Hill
The most recent two holes at Silica Hill follow up the original four holes, which assayed:
- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.
The current drill program commenced in early December and comprises up to 2,000 metres of reverse circulation and diamond drilling.
Two diamond holes have been completed for 434 metres with the remainder to be completed during the current quarter.
Broken Hill project
The Broken Hill project covers about 280 square kilometres of ground close to and south of the large-scale Broken Hill lead-zinc-silver mine in New South Wales.
The project is prospective for deposits of nickel, copper and platinum group elements (PGEs) as well as lead, zinc and silver.
Impact’s focus has been on the discovery of massive nickel-copper sulphides at the Red Hill, Platinum Springs and Little Darling Creek prospects.
To that aim a helicopter borne electromagnetic survey is scheduled to commence next week to cover 25 kilometres of strike of ultramafic-mafic rocks that host the mineralisation discovered to date.
A total of 350 line kilometres of flying will be completed with results expected by early April.
Mulga Tank soil geochemistry update
Impact also owns 100% of the 420 square kilometre Mulga Tank project located 200 kilometres northeast of Kalgoorlie.
The project is prospective for gold and nickel deposits.
The results of 2,500 soil geochemistry samples have been received and are being interpreted.
A number of gold and nickel anomalies have been identified and these are being prioritised for follow up work including drilling.