Impact Minerals Ltd (ASX:IPT) continues to enhance its high grade gold-silver discovery at the Silica Hill Prospect, part of the wholly-owned Commonwealth Project in New South Wales.
Recent diamond drilling has extended the mineralised vein system, which comprises a stockwork of quartz-sulphide veins about 40 metres wide, a further 50 metres along trend to the north east.
The system comprises multiple narrow veins containing measurable silver with a hand held XRF instrument.
The vein system is now about 250 metres in length and is still open along trend and at depth.
Adding further interest, a wide copper intersect indicates increasing copper and potential for a porphyry copper-gold system at depth.
Impact will use a downhole EM survey to define more specific drill targets.
Commonwealth is strategically located
The project is hosted within the Lachlan Foldbelt, home to numerous gold and copper mines including the giant Cadia deposit near Orange, containing 40 million ounces of gold and 12 million tonnes of copper.
At Silica Hill significant gold and silver mineralisation has been previously intersected in seven drill holes and covers an area of 200 metres by 100 metres down to a depth of 120 metres below surface and with an average true thickness of at least between 40 metres and 70 metres.
The mineralisation is open in all directions including up dip.