Impact Minerals Ltd (ASX:IPT) major shareholder, a German based consortium, has increased its stake in the company to 10.21%.
The consortium's position increased as it snapped up the final $0.9 million from the shortfall of the Share Purchase Plan, priced at $0.018.
There is an option attached, being three options for every two shares exercisable at $0.04 on or before 15 June 2020.
Dr Mike Jones, managing director, commented on the shareholder support:
"As a result we have now placed all of the shortfall from the recent Share Purchase Plan and so are very well funded to continue our on-going drill program at the emerging Silica Hill gold-silver discovery 100 kilometres north of Orange in New South Wales."
Silica Hill is part of the broader wholly-owned Commonwealth Project, and recent highlights include: 14 metres at 5.1 g/t gold equivalent (4 g/t gold and 61 g/t silver).
Impact is currently drilling at the project with 12 holes completed and a further eight holes planned to test extensions to the resource.
Mineralisation at the project is unique in Australia and similar to major high grade-low tonnage orebodies around the world in particular the 3.5 million ounce Eskay Creek gold-silver mine in Canada.