Impact Minerals (ASX:IPT) now has drilling underway at the wholly-owned Commonwealth Project, located in the highly prospective Lachlan Fold belt of New South Wales.
Impact recently raised funds for up to 3,000 metres of reverse circulation and diamond drilling to test targets on the Silica Hill Prospect, for follow up work at the high grade Broken Hill copper-nickel-PGM project and for general working capital.
At Silica Hill significant gold and silver mineralisation has been intersected in six drill holes and covers an area of 200 metres by 100 metres down to a depth of 120 metres below surface.
The average true thickness is at least between 50 metres and 70 metres.
Previous intercepts include: 41 metres at 2g/t gold and 176g/t silver from 61 metres.