Impact Minerals (ASX:IPT) has been granted a trading halt by the ASX, pending details of a capital raising.
The halt will remain in place until the opening of trade on Friday 12th May 2017, or earlier if an announcement is made to the market.
Impact has identified its next drill targets to expand the recently discovered high grade gold-silver Silica Hill prospect within the Commonwealth Project in New South Wales.
Recent drilling at the prospect revealed grades of up to 3,600 g/t silver and 23 g/t gold.
The new targets have been generated and prioritised for drilling from a detailed interpretation of induced polarisation (IP) data and from soil geochemistry data.
A review of exploration data has demonstrated strong similarities between the mineralised system at Commonwealth-Silica Hill and the very high grade Eskay Creek Mine in Canada.
Drilling will commence once environmental approvals have been granted, which are expected within the next few weeks.