Impact Minerals Ltd (ASX:IPT) will keep the drill rig spinning at the Silica Hill prospect, with the company extending the campaign due to high-grade results.
Recent highlights include: 14 metres at 5.1 g/t gold equivalent (4 g/t gold and 61 g/t silver).
Silica Hill is part of the company's wholly-owned Commonwealth Project, located 100 kilometres north of Orange in New South Wales.
Resource expansion opportunity
A resource drill-out at Silica Hill has the potential to significantly expand the high grade gold-silver-zinc-lead-copper resources already defined at the Commonwealth Project.
These stand at an Inferred Resource of 720,000 tonnes at 2.8 g/t gold, 48 g/t silver, 1.5% zinc and 0.6% lead or 4.5 g/t gold equivalent for 110,000 gold equivalent ounces.
Within this resource is a massive sulphide lens about 50 metres by 50 metres by about 8 metres thick in size.
The lens has an Inferred Resource of 145,000 tonnes at 4.5 g/t gold, 4.8% zinc, 1.7% lead and 0.2% copper or 10 g/t gold equivalent for 47,000 gold equivalent ounces.
Analysis
Investors can look forward to continuous news flow over the next two months as results start to be delivered.