Impact Minerals (ASX:IPT) has identified two new five kilometre trends prospective for gold, silver and base metals at the 100%-owned Commonwealth Project located in New South Wales.
The prospective trends have been recognised as significant due to the recognition of barium as a pathfinder element directly associated with the Commonwealth-Silica Hill mineralisation.
In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect within Commonwealth gold-silver-base metal project.
Drilling at Silica Hill has discovered gold and silver grading up to 3,600 g/t silver and 23 g/t gold over an area of 200 metres by 100 metres down to a depth of 120 metres below surface.
Barium is significant because it is an important accessory element and direct indicator of ore in gold-rich volcanogenic massive sulphide deposits such as Eskay Creek in Canada.
Eskay Creek hosts 4 million ounces of gold and 150 million ounces of silver and Impact’s work has revealed similarities between Eskay Creek and its Commonwealth-Silica Hill mineralisation.
Follow up drilling at Commonwealth-Silica Hill, Welcome Jack and Walls will commence at the end of the current share purchase plan.
In addition, a review and synthesis of previous exploration data from along the newly identified barium trends is in progress.
Field checking of these new trends will also commence during the drill program.