http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sun, 25 Feb 2018 12:50:23 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Impact Minerals shares rise as drilling reveals further breakthrough at Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/191539/impact-minerals-shares-rise-as-drilling-reveals-further-breakthrough-at-silica-hill-191539.html Impact Minerals Limited (ASX:IPT) has received further high-grade drilling results including up to 4,200 g/t silver at its emerging Silica Hill discovery in New South Wales.

The results include:

- 22.5 metres at 1.7 g/t gold and 276 g/t silver from 166.7 metres, including 0.3 metre at 1.8 g/t gold and 4,200 g/t; and
- 21.8 metres at 0.6 g/t gold and 273 g/t silver from 137.9 metres, including 0.5 metres at 0.5 g/t gold and 1,485 g/t (48 ounces) silver from 143 metres.

These results, together with previously reported results confirm the continuity of gold and silver mineralisation in the southern zone from surface to about 200 metres and over a strike length of 150 metres.

Highest assays returned so far at the project

Dr Mike Jones, managing director, said: “These results are an exciting further breakthrough for us at Silica Hill as they indicate the mineralised system is getting better at depth and to the east.

"The silver grades and minerals within the vein system we have discovered are exceptional and confirm the unique nature of this deposit in Australia.

"These are the highest assays returned so far at the project and they occur within robust zones of mineable width and grade.”

The nature of silver mineralisation is unique

All of the work to date by Impact indicates that the mineralised system at Silica Hill is very large with large areas remaining untested by drilling.

It is evident that there is significant exploration upside in the area.

Interestingly, the nature of the mineralisation at Silica Hill is unique in Australia with the extensive visible silver minerals proustite and pyrargyrite.

Planning for the next round of drilling is in progress

A detailed review and synthesis is in progress of all the drill hole data including assays, handheld XRF data and geological and structural data with the aim of identifying some of the controls on the mineralisation.

This work will be used to identify the next round of drill targets with the drill program to commence as soon as practicable.

READ: Impact Minerals major shareholder builds stake through $2 million note conversion ]]>
Tue, 13 Feb 2018 11:25:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191539/impact-minerals-shares-rise-as-drilling-reveals-further-breakthrough-at-silica-hill-191539.html
<![CDATA[News - Impact Minerals major shareholder builds stake through $2 million note conversion ]]> http://www.proactiveinvestors.com.au/companies/news/191175/impact-minerals-major-shareholder-builds-stake-through-2-million-note-conversion-191175.html Impact Minerals Limited (ASX:IPT) major shareholder, the Andrew Forrest related Squadron Resources Pty Ltd, continues to build its interest in the gold, silver and base metals explorer.

Squadron has lifted its stake to 14.8% by the conversion of $2 million in convertible notes it held in Impact.

The notes were held under the terms of a three year investment agreement Squadron signed in August 2015.

READ: Impact Minerals drills out visible silver extensions at Silica Hill

Under the terms of the agreement more than 148 million shares will be issued to Squadron within five business days.

Squadron is able to convert the notes into shares at a conversion price which is the lower of $0.021 cents per share or 80% of the 30-day Volume Weighted Average Price prior to the date of the conversion notice.

The latter applied and the price of each share was $0.0135.

READ: Impact Minerals swells coffers to explore Pilbara Conglomerate Gold Project

During the December quarter Squadron rotated its nominee director on Impact’s Board.

Felicity Gooding resigned as a director and Eamon Hannon was appointed as a non-executive director effective 30 November 2017.

As well as being a director of Squadron, Hannon is managing director of Buxton Resources Limited (ASX:BUX) and previously worked for Fortescue Metals Group (ASX:FMG).

 

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Tue, 06 Feb 2018 08:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191175/impact-minerals-major-shareholder-builds-stake-through-2-million-note-conversion-191175.html
<![CDATA[News - Impact Minerals awaits assays from drill holes containing visible silver ]]> http://www.proactiveinvestors.com.au/companies/news/190870/impact-minerals-awaits-assays-from-drill-holes-containing-visible-silver-190870.html Impact Minerals Limited (ASX:IPT) is expecting assays in early February for four drill holes containing visible silver at its Commonwealth Project in New South Wales.

READ: Impact Minerals drills out visible silver extensions at Silica Hill

The drilling is testing for a down dip extension of gold-silver mineralisation discovered in the Silica Hill Gold-Silver Prospect within the Commonwealth Project.

Visible silver minerals indicate the mineralised system extends for at least 500 metres down dip from surface.

READ: Impact Minerals eyes conglomerate-hosted gold potential in Pilbara

The company is also exploring more than 90 kilometres of prospective Fortescue Group conglomerates identified within its 1,300 square kilometres licence application in the East Pilbara region.

Impact is conducting on-ground reconnaissance exploration to ascertain access conditions and to determine the best sampling approach for gold both in nugget form as well as finely disseminated gold, both of which occur in the East Pilbara.

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Wed, 31 Jan 2018 12:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190870/impact-minerals-awaits-assays-from-drill-holes-containing-visible-silver-190870.html
<![CDATA[News - Impact Minerals drills out visible silver extensions at Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/188627/impact-minerals-drills-out-visible-silver-extensions-at-silica-hill-188627.html Impact Minerals Limited’s (ASX:IPT) drilling has extended mineralisation at the Silica Hill Gold-Silver Prospect within the Commonwealth Project in New South Wales.

Three diamond drill holes have intersected veins containing visible silver.

The holes indicate that mineralisation extends to at least 500 metres down-dip at Silica Hill.

Two holes have been completed and one is in progress.

READ: Impact Minerals' major shareholder increases stake as drill spins at Silica Hill gold-silver discovery

The two completed holes tested the southern-most of two zones in the south-western part of the Silica Hill rhyolite.

One hole drilled between two previous mineralised holes intersected a 71-metre thick zone from 78 metres.

It intersected numerous veins and included extensive visible silver minerals and lesser zinc and copper sulphides.

The veins are commonly up to 10 centimetres thick with occasional veins up to 40 centimetres.

The other completed hole tested a 30-metre extension of the mineralised zone and intersected a similar 24-metre thick zone from 137 metres.

READ: Impact Minerals receives new assays from Silica Hill

These holes demonstrate good continuity of mineralisation over circa 150 metres from close to surface, supporting any potential open pit development.

The hole in progress is testing for a down dip extension of gold-silver mineralisation discovered in the Silica Hill rhyolite.

It has intersected an 80-metre thick zone of sulphide from 255 metres.

The zone is similar to the outer halo of high-grade mineralisation to the west and suggests the hole is potentially close to similar high-grade mineralisation.

Visible silver minerals in intersection

Visible silver minerals indicate the mineralised system extends for at least 500 metres down dip from surface.

The hole confirms Impact’s view that the mineralised system at Silica Hill is very large.

This is supported by previous exploration results including soil geochemistry, induced polarisation (IP) and drill assay data.

Assay results from the three holes are expected by late January 2018.

Drilling to recommence in mid-January

Two diamond rigs are on site with drilling to stop by 18 December for the holiday period.

Drilling will recommence in mid-January at Silica Hill East Prospect, 1,500 metres east of Silica Hill.

This will test strong IP anomalies and the upper contact of the Silica Hill rhyolite at depth.

Silica Hill program to resume after assays are interpreted

The Silica Hill program is expected to resume after Impact interprets assay results and prioritises areas for follow-up.

The Commonwealth Project comprises 1,000 square kilometres of exploration licences located 100 kilometres north of Orange.

Work by Impact in 2014 outlined a maiden inferred resource of 720,000 tonnes at 2.8 g/t gold and 48 g/t silver centred on historical underground workings at the Commonwealth Main Shaft. 

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Wed, 13 Dec 2017 08:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188627/impact-minerals-drills-out-visible-silver-extensions-at-silica-hill-188627.html
<![CDATA[News - Impact Minerals eyes conglomerate-hosted gold potential in Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/187802/impact-minerals-eyes-conglomerate-hosted-gold-potential-in-pilbara-187802.html Impact Minerals Limited (ASX:IPT) is reviewing previous exploration data from its licence applications which cover 1,300 square kilometres in the Pilbara region Western Australia.

The review indicates at least 90 kilometres of prospective Fortescue Group conglomerates occur at or near-surface.

READ: Impact Minerals' major shareholder enhances position ahead of conglomerate gold hunt

Impact has a particular focus on the two most prospective conglomerate horizons within the Fortescue Group being the conglomerates of the Hardey Formation and conglomerates at the base of the Mt Roe Basalt.

The Hardey Formation rocks host the Beatons Creek resource of 6.4 million tonnes at 2.7 g/t gold for 558,000 ounces of gold held by Novo Resources Corp (CVE:NVO).

The Mt Roe Basalt rocks host the recent gold discovery at Purdeys Reward-Comet Well by Novo Resources and Artemis Resources Ltd (ASX:ARV).

Four main gold-bearing conglomerate occurrences

At the Glen Herring Prospect previous rock chip samples in 1989 returned assays of up to 11.2 g/t gold from a gold-pyrite bearing conglomerate within the Hardey Formation.

At the Shady Camp Well Prospect one diamond drill hole in 1976 returned 0.9 metres at 0.6 g/t gold from 174 metres downhole.

Gold-bearing pyritic quartz pebble conglomerates have been identified at the base of the Mt Roe Formation by several previous explorers at the Contact Creek Prospect.

The Hardey Formation sandstones and conglomerates have been mapped over at least 25 kilometres of strike and rock samples of conglomerates with very strong pyrite returned up to 0.26 g/t gold.

Site visit to Purdeys Reward-Comet Well area helps understand discovery

Dr Mike Jones, managing director, said: “We were recently privileged to visit the Purdeys Reward-Comet Well area with Novo Artemis and have seen first hand the reasons why it had not been discovered before, the potential scale of the discovery and also the difficulties of exploring and sampling for this style of deposit.

“It is evident that there is a wide range in size and distribution of gold within these conglomerates and it is this that has hampered previous exploration for this style of mineralisation.

“We are now determining the most appropriate sampling methodologies for our on-ground exploration which will commence in earnest on grant of the licences.”

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Mon, 27 Nov 2017 17:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187802/impact-minerals-eyes-conglomerate-hosted-gold-potential-in-pilbara-187802.html
<![CDATA[News - Impact Minerals' major shareholder enhances position ahead of conglomerate gold hunt ]]> http://www.proactiveinvestors.com.au/companies/news/187052/impact-minerals-major-shareholder-enhances-position-ahead-of-conglomerate-gold-hunt-187052.html Impact Minerals Ltd's (ASX:IPT) major shareholder, the German based ABC Beteiligungen AG, has increased its stake in the company to 12% following a placement of 37.5 million shares at $0.023.

The placement will boost Impact's bank balance by another $862,500.

Dr Mike Jones, managing director, commented:

"This is a strong sign of support from our German shareholder ABC Beteiligungen AG and these new funds will allow us to continue our exploration programs with increasing vigour."

Funds will be primarily used to explore the new Pilbara Conglomerate Gold Project and the ongoing drill program and resource work at the Commonwealth gold-silver-base metals project in New South Wales.

READ NOW: Impact’s Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold in Proactive Q&A Sessions™ ]]>
Fri, 10 Nov 2017 13:09:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187052/impact-minerals-major-shareholder-enhances-position-ahead-of-conglomerate-gold-hunt-187052.html
<![CDATA[News - Impact Minerals swells coffers to explore Pilbara Conglomerate Gold Project ]]> http://www.proactiveinvestors.com.au/companies/news/186531/impact-minerals-swells-coffers-to-explore-pilbara-conglomerate-gold-project-186531.html Impact Minerals Ltd (ASX:IPT) has been overwhelmed by sophisticated and professional investors in a heavily oversubscribed placement to raise $2.5 million.

The raising was conducted at $0.02, an 11% premium to the share price, and each share has a free attaching $0.04 option which can be exercised on or before the 15th June 2020.

The raising swells Impact's cash balance to $5.2 million.

Funds to be primarily used for new Pilbara Conglomerate Gold Project and the ongoing drill program and resource work at the Commonwealth gold-silver-base metals project in New South Wales.

READ NOW: Impact’s Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold

Dr Mike Jones, managing director, commented:

"We are now in a position to maintain momentum on our projects and in particular in the Pilbara where on-ground reconnaissance work has commenced and ground access conditions are being assessed, as well as at Commonwealth Silica Hill where drill rigs are mobilising to site this week.

"We will complete a minimum of 1,500 metres of drilling before Christmas."

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Wed, 01 Nov 2017 11:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186531/impact-minerals-swells-coffers-to-explore-pilbara-conglomerate-gold-project-186531.html
<![CDATA[News - Impact to lift cash position for conglomerate-hosted gold in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/186376/impact-to-lift-cash-position-for-conglomerate-hosted-gold-in-the-pilbara-186376.html Impact Minerals Ltd (ASX:IPT) has a portfolio of key assets in Australia, including exploration applications for nine licenses in the Pilbara region of Western Australia.

The licenses are prospective for Witwatersrand-style conglomerate-hosted gold.

WATCH NOW: Impact Minerals to kick off on-ground activities in the Pilbara.

Impact has been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Wednesday 1st November 2017, or earlier if an announcement is made to the market.

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Mon, 30 Oct 2017 10:06:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186376/impact-to-lift-cash-position-for-conglomerate-hosted-gold-in-the-pilbara-186376.html
<![CDATA[Media files - Impact Minerals to kick off on-ground activities in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8278/impact-minerals-to-kick-off-on-ground-activities-in-the-pilbara-8278.html Tue, 24 Oct 2017 09:39:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8278/impact-minerals-to-kick-off-on-ground-activities-in-the-pilbara-8278.html <![CDATA[News - Impact’s Dr Mike Jones details technical review of Pilbara conglomerate-hosted gold in Proactive Q&A Sessions™ ]]> http://www.proactiveinvestors.com.au/companies/news/185971/impacts-dr-mike-jones-details-technical-review-of-pilbara-conglomerate-hosted-gold-in-proactive-qa-sessions-185971.html Impact Minerals Ltd (ASX:IPT) remains a front runner in the new gold rush in the Pilbara, and is progressing applications for nine exploration licences.

The licenses cover 1300 square kilometres and are prospective for Witwatersrand-style conglomerate-hosted gold.

WATCH: Impact Minerals to kick off on-ground activities in the Pilbara

To tell us more, we are joined exclusively by the company's managing director, Dr Mike Jones.

Proactive Investors: Welcome Mike.

Proactive Investors: First of all, with the new gold rush in the Pilbara, can you provide a technical view of what is conglomerate-hosted gold?

Dr Mike Jones:

Conglomerate is a type of sedimentary rock comprising coarse grained pebbles and fragments (“clasts”) of older rocks that have been transported as sediment in rivers and deposited either in the river bed itself, associated floodplains or on beaches and in oceans as the rivers drain into the sea.

The recent gold rush in the Pilbara is related to the discovery of extensive horizons of very ancient conglomerate up to nearly 3 billion years old that contain both coarse nuggets of gold as well as finer grained gold particles in the matrix between the larger pebbles and nuggets.

It is now evident that these particular nuggets were part of the ancient conglomerate and are thus also nearly 3 billion years old.

This is a very important break-through because most gold nuggets found in the Goldfields of Western Australia were formed far more recently, probably within the last few million years.

This is where some confusion still exists in the minds of investors: there are nuggets and nuggets!

The 3 billion year old nuggets have a distinctive shape and edges to them and this is where the phrase “water melon seed nugget” has come from.

Most of the nuggets are a similar shape but commonly larger than the average watermelon seed.

It is commonly believed that the nuggets must have come from gold-bearing veins in the areas from which the other pebbles and fragments in the conglomerate came from and given the Pilbara has a relatively small gold endowment compared to say the Kalgoorlie gold fields.

People have believed there was insufficient gold to form a major conglomerate hosted deposit similar to the giant Witwatersrand goldfield of South Africa, to which the discoveries in the Pilbara are being compared.

However, this is a misconception.

My PhD studies looked at the formation of gold deposits in a small sedimentary basin of the same age as and just to the north of the Witwatersrand basin.

This work showed that gold was also being introduced to the basin in hot geothermal fluids and that there was a complex interplay between formation of gold in the conglomerate and reworking of that gold within the basin itself.

Work by Novo Resources President Dr Quenton Hennigh has also shown that much of the gold in the Witwatersrand Basin was associated with the growth of algal mats and related to early oxygenation of the world's oceans.

This event lead to deposition of gold in the algal mats which were also subsequently reworked to form nuggets.

Combined this work demonstrates that a large source area for gold nuggets is not required and I have to say I am quite amused by some of the uninformed opinion I have seen on the web concerning the source of the nuggets and the limitation this places on the exploration potential.

Proactive Investors: Where else in Australia, and around the world, has this style of geology been identified, and where is it being mined?

Dr Mike Jones:

Of course, the Witwatersrand Basin is by far the dominant gold field in the world and has produced at least 1.5 billion ounces of gold since its discovery in the late 1800’s.

There has been much exploration to find equivalents in Brazil and India in particular but to date apart from some small occurrences few other significant mines have been discovered.

What we can say is that a new Witwatersrand has yet to be discovered in the Pilbara.

The Witwatersrand basin is a pile of sedimentary rocks nearly 7 kilometres thick and the best gold occurs in the middle and upper parts of the sequence.

So far only narrow conglomerate units at the base of the sequence have been discovered.

The great hope is that the basin will thicken at depth.

Another important difference is that only about 40% of the gold in the Witwatersrand is coarse nuggets.

The remainder is fine grained gold mostly associated with so-called “carbon leaders”, interpreted as possible algal mats.

This material contains the super high grades of gold commonly in excess of 1,000 g/t in narrow layers and lenses often only a few centimetres thick.

These have yet to be found in the Pilbara.

Proactive Investors: Moving now to Impact’s position in the Pilbara, what applications do you have in place, and how are they progressing?

Dr Mike Jones:

Impact only became aware of the Artemis Resources Ltd (ASX:ARV) / Novo Resources Corp discoveries mid-year but quickly recognised the potential significance of the discovery because of the nature of the nuggets.

It is not only the shape of the nuggets that was significant but also the edges of them with some clearly having toroidal forms, typical of nuggets in the Witswatersrand.

I’m not doing all the work for your readers and so they can Google that term themselves!

We were able to peg 1300 square kilometre of ground in the East Pilbara probably two months before the big rush started.

READ NOW: Impact Minerals' parachutes into the Pilbara

These licences are now about to go through the statutory advertising process for Native Title objections with likely grant to be in the second quarter of next year.

We can however do reconnaissance work on the licences in the meantime and we will shortly be heading north for our first field visit.

It is clear from pre-existing exploration that there are gold-bearing conglomerates on our ground and that is very exciting.

We are compiling all of that data at present.

Proactive Investors: With this footprint in one of the hottest exploration post codes in Australia, have you attracted interest from partners or investors?

Dr Mike Jones:

The interest has been significant, not just from Australia but also overseas.

We are still very focussed on our emerging gold-silver discovery at Commonwealth in New South Wales and we are due to recommence drilling there within the next few weeks.

Given the exciting potential of that project to deliver a major discovery we will continue to focus on that whilst building up the story in the Pilbara and waiting for the licences to be granted.

We are always open to discussions with potential partners of course for all of our projects.

Proactive Investors: Thank-you Mike.

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Mon, 23 Oct 2017 08:03:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185971/impacts-dr-mike-jones-details-technical-review-of-pilbara-conglomerate-hosted-gold-in-proactive-qa-sessions-185971.html
<![CDATA[News - Impact Minerals' shares soar as it parachutes into the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/184719/impact-minerals-shares-soar-as-it-parachutes-into-the-pilbara-184719.html Impact Minerals Ltd (ASX:IPT) shares have jumped 69.2% intra-day to $0.022, with 88 million having changed hands in afternoon trade.

Impact's major shareholder, a German based consortium, will be very happy with the positive re-rating after increasing its stake by investing $900,000 at $0.018 after snapping up the shortfall from the recent Share Purchase Plan.

READ NOW: Impact Minerals' major shareholder increases stake

The company has caught investor attention as it is progressing applications for nine new 100% owned exploration licences in the Pilbara region of Western Australia.

The licenses cover 1300 square kilometres, with the ground prospective for Witwatersrand-style conglomerate-hosted gold.

The majority of the licence applications have recently passed through the period for objections under the Mining Act and as such are now likely to be granted subject to the statutory Native Title notification and negotiation period which is expected to take about eight months.

The licences cover various parts of the prospective contact between the older Pilbara granite-greenstone terrain and the overlying Fortescue Group rocks in the East Pilbara region including areas close to and adjoining licences held by Novo Resources Corporation.

Why is the location important?

Dr Mike Jones, managing director for Impact, commented on the importance of the area:

"As soon as we recognised the significance of the break through that had been made by Novo-Artemis in the search for Witwatersrand-style gold in the Pilbara we were relatively early movers in the area and were able to secure some very prospective tenements.

"One of the overlooked breakthroughs made by Novo is in research published by Novo’s CEO Dr Quinton Hennigh which clearly shows that many of the nuggets in the Witwatersrand may have been sourced from the reworking of gold deposited by microbial activity and basinal fluids early in the history of the sedimentary basin.

"This removes the requirement for a source for the nuggets from the underlying granite-greenstone terrain, one of the criticisms levelled at the potential for these conglomerates to host significant gold.

"This was an important breakthrough by Dr Hennigh and, once we understood that we acted quickly to acquire the ground."

Next up

Impact has now commenced a review of previous exploration and will also start initial on-ground activities in early November under a Miners Right.

The company added that it will also consider its options for funding exploration on this new project given the company’s focus on its emerging high-grade gold and silver discovery at Commonwealth-Silica Hill, located 100 kilometres north of Orange in New South Wales.

READ NOW: Impact Minerals receives new assays from Silica Hill ]]>
Thu, 28 Sep 2017 14:25:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184719/impact-minerals-shares-soar-as-it-parachutes-into-the-pilbara-184719.html
<![CDATA[News - Impact Minerals receives new assays from Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/184347/impact-minerals-receives-new-assays-from-silica-hill-184347.html Impact Minerals (ASX:IPT) has received new assays from ongoing drilling at its emerging gold-silver discovery at the Silica Hill Prospect within the Commonwealth Project in New South Wales.

Results include 98 metres at 0.7 g/t gold and 53 g/t silver from 58 metres downhole and feature grades of up to 6.2 g/t gold and 149 g/t silver.

Exploration data to date shows that the mineralisation at Silica Hill is resolving into several mineralised domains.

At least two east-west structures have been identified, each over at least 400 metres of strike and both open along trend and at depth.

Further assays are expected within three weeks.

Drill result details

A total of 21 drill holes for 3,432 metres have been completed in this phase of drilling and comprising 11 diamond holes for 2,321 metres and 10 reverse circulation holes for 1,111 metres.

Hole 63 returned 98 metres at 0.7 g/t gold and 53 g/t silver (1.5 g/t gold equivalent) from 58 metres down hole including 31 metres at 1.3 g/t and 70 g/t silver (2.2 g/t gold equivalent).

Hole 63 also encountered the higher grade ‘feeder veins’ within this 98 metre intersection such as 0.3 metres at 6.2 g/t gold, 149 g/t silver, 8.4% zinc, 3.9% lead and 0.2% copper (16.5 g/t gold equivalent).

Furthermore, hole 64 returned 84 metres at 0.3 g/t gold and 18 g/t silver and hole 65 returned 62 metres at 0.5 g/t gold and 17 g/t silver, with individual one-metre samples returning up to 75 g/t silver.

Hole 61 also intersected a zone of narrow veins with silver and returned 10 metres at 86 g/t silver.

Next steps

Two more diamond drill holes are planned before the drill rig will be converted to a multi-purpose rig to allow it to also drill by reverse circulation.

This will take about four weeks and occur in October.

Drilling to date at Silica Hill has only tested 10% of the identified target area.

Results to date continue to demonstrate a mineralised system that extends over at least 700 metres of strike and a vertical extent of at least 400 metres.

The drill program is ongoing and will continue to test this very large system which continues to show it has the potential to host a major deposit.

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Thu, 21 Sep 2017 15:41:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184347/impact-minerals-receives-new-assays-from-silica-hill-184347.html
<![CDATA[News - Impact Minerals' major shareholder increases stake as drill spins at Silica Hill gold-silver discovery ]]> http://www.proactiveinvestors.com.au/companies/news/184339/impact-minerals-major-shareholder-increases-stake-as-drill-spins-at-silica-hill-gold-silver-discovery-184339.html 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.

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Thu, 21 Sep 2017 12:36:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184339/impact-minerals-major-shareholder-increases-stake-as-drill-spins-at-silica-hill-gold-silver-discovery-184339.html
<![CDATA[News - Impact Minerals bags another $2M as share price rise attracts investors ]]> http://www.proactiveinvestors.com.au/companies/news/183204/impact-minerals-bags-another-2m-as-share-price-rise-attracts-investors-183204.html Impact Minerals Ltd (ASX:IPT) shares have been on the move recently, hitting $0.024 earlier in the month after some promising exploration results from the company's wholly-owned Commonwealth Project

Commonwealth is located 100 kilometres north of Orange in New South Wales, and contains the Silica Hill prospect.

Recent highlights include: 14 metres at 5.1 g/t gold equivalent (4 g/t gold and 61 g/t silver).

The timing of the share price rise attracted investors to participate in the company's shortfall from the recent share purchase plan.

Impact has raised another $2 million from the shortfall, with the offer 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.

The company's shares last changed hands at $0.019.

Dr Mike Jones, managing director, commented:

"We are very pleased to have had strong and mostly unsolicited demand for this shortfall because we are now well funded to continue the major drill program at our emerging high grade gold-silver discovery at Silica Hill."

Opportunity knocks at Commonwealth

Impact is currently drilling at the project with 12 holes completed and a further eight holes planned to test extensions to the resource.

Drilling will add to the existing resource base of 100,000 ounces of gold equivalent.

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.

Investors can look forward to continuous news flow over the next two months as results are delivered.

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Thu, 31 Aug 2017 12:54:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183204/impact-minerals-bags-another-2m-as-share-price-rise-attracts-investors-183204.html
<![CDATA[News - Impact Minerals to lift cash balance as drilling extended at Commonwealth Project ]]> http://www.proactiveinvestors.com.au/companies/news/183051/impact-minerals-to-lift-cash-balance-as-drilling-extended-at-commonwealth-project-183051.html Impact Minerals Ltd (ASX:IPT) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Impact recently decided to extend its drilling program at the Silica Hill prospect, following intersections including: 5.1 g/t gold equivalent (4 g/t gold and 61 g/t silver).

READ NOW: Impact Minerals to extend drilling following gold-silver hits

The halt will remain in place until the opening of trade on Thursday 31st August 2017, or earlier if an announcement is made to the market.

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Tue, 29 Aug 2017 10:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183051/impact-minerals-to-lift-cash-balance-as-drilling-extended-at-commonwealth-project-183051.html
<![CDATA[News - Impact Minerals reveals Silica Hill potential as mineralised vein extends ]]> http://www.proactiveinvestors.com.au/companies/news/182970/impact-minerals-reveals-silica-hill-potential-as-mineralised-vein-extends-182970.html 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.

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Fri, 25 Aug 2017 14:19:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182970/impact-minerals-reveals-silica-hill-potential-as-mineralised-vein-extends-182970.html
<![CDATA[News - Impact Minerals to extend drilling at Silica Hill following gold-silver hits ]]> http://www.proactiveinvestors.com.au/companies/news/182433/impact-minerals-to-extend-drilling-at-silica-hill-following-gold-silver-hits-182433.html 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.

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Tue, 15 Aug 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182433/impact-minerals-to-extend-drilling-at-silica-hill-following-gold-silver-hits-182433.html
<![CDATA[News - Impact Minerals drills very thick zones of visible mineralisation ]]> http://www.proactiveinvestors.com.au/companies/news/181963/impact-minerals-drills-very-thick-zones-of-visible-mineralisation-181963.html Impact Minerals (ASX:IPT) has drilled its initial two follow-up holes at  the emerging Silica Hill Prospect within its 100%-owned Commonwealth Project located in New South Wales.

While lab assays are pending, preliminary results show thick widths of stockwork and narrow veins spaced 30-50 centimetres apart containing extensive visible silver minerals and zinc, lead and copper sulphides.

Significantly, gold is unable to be estimated without lab assays, however previous results indicate that gold is likely to be present in places.

Diamond hole CMIPT063 returned a 116 metre thick zone of veins from 57 metres depth and diamond hole CMIPT061 also intersected a 90 metre thick zone of silver and molybdenum.

These preliminary results represent the first indications of the anticipated high grade feeder zones to the Silica Hill system that may extend for up to one kilometre to the north east.

How valuable can this feeder zone be?

The proposed high-grade feeder zone is interpreted to possibly extend for a further 1,000 metres to the north east.

Such feeder zones occur within gold-rich volcanogenic massive sulphide (VMS) deposits, a class of deposit only recognised within the past 20 years.

The type-deposit of the gold-rich VMS systems is the well-known Eskay Creek deposit in Canada which was mined mostly during the early 2000s and contained over 4 million ounces of gold and 180 million ounces of silver.

The gold and silver was in numerous rich ore shoots over a vertical extent of at least 700 metres.

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.

Preliminary drill hole details

The preliminary results have been estimated visually and with a hand held XRF instrument, which is incapable of detecting gold in this situation.

Hole CMIPT063 tested a modest north east extension of the mineralised zone and returned a 116 metre thick zone of veins from 57 metres down hole comprising a lower 70 metre thick zone of silver and base metal-rich veins and an upper 40 metre thick zone of silver-rich veins.

These veins, although narrow, contain high grades of zinc and lead (up to 20%), good grades of copper (up to 2%) and very high to exceptional grades of silver (commonly in the hundreds of grams and up to 7,000 g/t silver).

Hole CMIPT061 tested the north west extension of mineralisation and has intersected a 90 metre thick zone.

The zone comprises an upper 30 metre thick zone of silver rich veins and a lower 60 metre thick zone of 50 ppm to 200 ppm molybdenum.

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Fri, 04 Aug 2017 14:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181963/impact-minerals-drills-very-thick-zones-of-visible-mineralisation-181963.html
<![CDATA[News - Impact Minerals drills best every gold intersection at Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/181185/impact-minerals-drills-best-every-gold-intersection-at-silica-hill-181185.html Impact Minerals Ltd's (ASX:IPT) Commonwealth Project in New South Wales continues to emerge as a potential company maker, after follow-up drilling delivered the best gold intersection to date.

At the Silica Hill prospect, Impact revealed from reverse circulation drilling: 14 metres at 4.5g/t gold from 153 metres, including 3 metres at 10.4 g/t gold.

The 14 metre intercept lies within a 40 metre thick intercept with greater than 0.1g/t gold.

This could be just the beginning of the mineralisation, with assays from silver and other metals are expected within three weeks.

Dr Mike Jones, managing director, commented:

"This excellent intercept further demonstrates the potential for Silica Hill to deliver a significant discovery and we can draw three significant conclusions from it.

"First, as we have suspected, there are likely to be zones of much higher grade gold in the system to accompany the exceptional silver grades of up to 3,100 g/t already discovered.

"Secondly, we are seeing significant improvements in grade with closer spaced drilling and this offers the opportunity to rapidly increase the ounces of contained gold and silver within the area already discovered.

"Thirdly, the mineralisation is now open to the north west. These are all very encouraging developments."

Commonwealth Project likened to Eskay Creek Mine

Impact’s work has shown that the mineralisation at Commonwealth-Silica Hill is part of a gold-rich VMS system and has strong similarities to the Eskay Creek Mine in Canada.

Eskay Creek hosts >4 million ounces of gold and 150 million ounces of silver.

This comparison has led to the recognition that there is significant potential to increase the possible contained ounces of gold and silver within the envelop of mineralisation already discovered with closer spaced drilling.

Impact wholly-owns the Commonwealth Project which forms part of its extensive land holding of 1,000 square kilometres in the Lachlan Fold belt.

The belt is home to numerous gold and copper mines including the giant Cadia deposit near Orange which hosts 40 million ounces of gold and 12 million tonnes of copper.

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Thu, 20 Jul 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181185/impact-minerals-drills-best-every-gold-intersection-at-silica-hill-181185.html
<![CDATA[News - Impact Minerals spins the drill bit at Commonwealth Project ]]> http://www.proactiveinvestors.com.au/companies/news/179717/impact-minerals-spins-the-drill-bit-at-commonwealth-project-179717.html 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.

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Fri, 23 Jun 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179717/impact-minerals-spins-the-drill-bit-at-commonwealth-project-179717.html
<![CDATA[News - Impact Minerals pockets funds and readies to drill Commonwealth project ]]> http://www.proactiveinvestors.com.au/companies/news/179501/impact-minerals-pockets-funds-and-readies-to-drill-commonwealth-project-179501.html Impact Minerals (ASX:IPT) has secured funds and is gearing up to drill the highly prospective Commonwealth gold-silver-base metals project in New South Wales.

Impact received applications for $1,073,970 through the Share Purchase Plan (SPP) and shortfall offer.

Dr Mike Jones, managing director, commented:

"We are very pleased with the outcome of the SPP given the difficult market conditions of the past few months and we thank all of our shareholders who participated for their support.

"We can now move on with the drill programme at our Commonwealth project where we have identified a significant number of targets to test for further high grade gold and silver mineralisation."


Drilling program

Funds will be used to fund 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.

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Tue, 20 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179501/impact-minerals-pockets-funds-and-readies-to-drill-commonwealth-project-179501.html
<![CDATA[News - Impact Minerals extends share purchase plan ]]> http://www.proactiveinvestors.com.au/companies/news/178877/impact-minerals-extends-share-purchase-plan-178877.html Impact Minerals (ASX:IPT) has extended the closing date of its share purchase plan (SPP) by three days to Wednesday 14 June, 2017.

The extension is due to delays experienced by a number of shareholders in receiving the Prospectus and to compensate for the recent Western Australian public holiday.

All other dates in relation to the SPP and following shortfall offer remain unchanged.

The SPP aims to raise up to $4 million through the offer of 222.3 million shares priced at $0.018 and 3:2 attaching options exercisable at $0.04 and expiring June 15, 2020.

Eligible shareholders are able to subscribe for up to $15,000 of new shares in the SPP.

Any shares and attaching options not subscribed for under the SPP will be offered under the shortfall offer.

Funds raised will be used to drill a significant number of follow up drill targets in and around the general Commonwealth-Silica Hill area, within the 100% owned Commonwealth Project in New South Wales.

These include:

- Main Shaft: a prominent conductor has been identified at depth below the massive sulphide;
- Main Shaft North: a prominent conductor with coincident copper-lead-zinc-in-soil anomalies located 200 metres north of Main Shaft;
- Silica Hill: extensive and strong IP chargeability anomalies with coincident strong gold-silver-in-soil anomalies covering about one square kilometre; and
- Silica Hill East: several prominent conductors, very strong IP chargeability anomalies and extensive soil geochemistry anomalies of pathfinder metals as well as gold and silver.

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.

It has shown strong similarities to the Eskay Creek deposit in Canada, which hosts 4 million ounces of gold and 150 million ounces of silver.

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Wed, 07 Jun 2017 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178877/impact-minerals-extends-share-purchase-plan-178877.html
<![CDATA[News - Impact Minerals identifies new drill targets near Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/178816/impact-minerals-identifies-new-drill-targets-near-silica-hill-178816.html Impact Minerals (ASX:IPT) has identified new drill targets along the eastern, upper contact of the Silica Hill Rhyolite within its 100% owned Commonwealth Project in New South Wales.

Until now, Impact’s exploration has been mostly focussed at the Main Shaft-Commonwealth South-Silica Hill prospects up to one kilometre away on the lower, western contact of the Silica Hill Rhyolite and the underlying thinner Commonwealth Rhyolite.

Here, Impact has discovered high grade gold-silver-base metal mineralisation interpreted to be part of a so-called gold-rich volcanogenic massive sulphide (VMS) system.

However, certain features within these rhyolites and the associated mineralisation suggest that the area explored to date could be part of a much larger and prospective high grade feeder zone that extends for one kilometre north east through the Silica Hill Rhyolite up to its eastern upper contact with overlying volcanic rocks.

In addition, the position where the interpreted feeder zone intersects the upper contact is an excellent conceptual target for further gold-rich VMS mineralisation.

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.

It has shown strong similarities to the Eskay Creek deposit in Canada, which hosts 4 million ounces of gold and 150 million ounces of silver.

Results of a soil geochemistry survey over the chargeability and conductivity anomalies are pending


Summary of targets

Impact has identified a significant number of follow up drill targets in and around the general Commonwealth-Silica Hill area.

These include:

- Main Shaft: a prominent conductor has been identified at depth below the massive sulphide;
- Main Shaft North: a prominent conductor with coincident copper-lead-zinc-in-soil anomalies located 200 metres north of Main Shaft;
- Silica Hill: extensive and strong IP chargeability anomalies with coincident strong gold-silver-in-soil anomalies covering about one square kilometre; and
- Silica Hill East: several prominent conductors, very strong IP chargeability anomalies and extensive soil geochemistry anomalies of pathfinder metals as well as gold and silver.

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Tue, 06 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178816/impact-minerals-identifies-new-drill-targets-near-silica-hill-178816.html
<![CDATA[News - Impact Minerals sees evidence of deposit at Broken Hill ]]> http://www.proactiveinvestors.com.au/companies/news/178682/impact-minerals-sees-evidence-of-deposit-at-broken-hill-178682.html Impact Minerals (ASX:IPT) has received further encouraging results for high grade deposits of nickel-copper-platinum group metals (PGM)-cobalt at its 100% owned Broken Hill Project in New South Wales.

Results come from newly received induced polarisation data from a helicopter electromagnetic survey over the Little Darling Creek Prospect and along the Rockwell-Little Broken Hill Trend.

At Little Darling Creek, a target area is coincident with rock chip samples up to 4.5 g/t platinum and 5 g/t palladium.

Along the Rockwell-Little Broken Hill Trend, induced polarisation (IP) features in part coincident with electromagnetic (EM) anomalies.

The IP and EM responses present in the data are consistent with the expected response for the style of high grade nickel-copper-PGM sulphide mineralisation being explored for.

They are similar to Impact’s discoveries at the Red Hill and Platinum Springs Prospects to the north.

At the Red Hill Prospect, Impact drilled an intercept of 1.2 metres at 75.4 g/t platinum equivalent comprising 10.4 g/t platinum, 10.9 g/t gold, 254 g/t palladium, 7.4% nickel, 1.8% copper, 19 g/t silver and 0.5% cobalt.


Next steps

Further interpretation and modelling of the aerial EM data is in progress and follow up ground work will commence once completed.

This work will include field checking, surface geochemical sampling and ground geophysical surveys where required to identify targets for drilling.

Any targets identified will be drill tested together with follow up drilling at Red Hill.

The aerial EM survey along the Moorkai Trend will be completed later in the year.

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Fri, 02 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178682/impact-minerals-sees-evidence-of-deposit-at-broken-hill-178682.html
<![CDATA[News - Impact Minerals identifies two new gold-silver-base metal trends ]]> http://www.proactiveinvestors.com.au/companies/news/178528/impact-minerals-identifies-two-new-gold-silver-base-metal-trends-178528.html 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.

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Wed, 31 May 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178528/impact-minerals-identifies-two-new-gold-silver-base-metal-trends-178528.html
<![CDATA[News - Impact Minerals gets approval for major drill program ]]> http://www.proactiveinvestors.com.au/companies/news/178455/impact-minerals-gets-approval-for-major-drill-program-178455.html Impact Minerals (ASX:IPT) has received all statutory environmental approvals for the highly anticipated follow up drill program at its Commonwealth Project in New South Wales.

Clearing of access tracks and drill pads will commence this week with the drill program to commence on completion of the current share purchase plan.

The drill program will test a significant number of targets along trend and at depth from the high grade mineralisation discovered in the Commonwealth-Silica Hill area as well as new targets in the immediate surrounding areas.

In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect within the Commonwealth project.

Drilling at Silica Hill 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.

The current share purchase plan and related shortfall offer closes on 9 June 2017.

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Tue, 30 May 2017 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178455/impact-minerals-gets-approval-for-major-drill-program-178455.html
<![CDATA[News - Impact Minerals plans new massive sulphide drill targets ]]> http://www.proactiveinvestors.com.au/companies/news/178300/impact-minerals-plans-new-massive-sulphide-drill-targets-178300.html Impact Minerals (ASX:IPT) has identified specific drill targets at Main Shaft North, within its100%-owned Commonwealth Project located 100 kilometre north of Orange in New South Wales.

These targets have the potential to significantly extend the high grade gold-silver-zinc-lead-copper massive sulphide mineralisation that forms part of the Commonwealth deposit.

The new targets have been generated and prioritised for drilling from a detailed interpretation of induced polarisation (IP) conductivity data and from soil geochemistry data.

The targets occur at depth below and along trend from Main Shaft which lies at the northern end of the Commonwealth deposit.

Accordingly this new area is called the Main Shaft North Prospect.

In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect within the Commonwealth project.

Drilling at Silica Hill 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.

A significant drill program to test these new anomalies and those identified at Silica Hill and also at Welcome Jack will commence on the completion of the share purchase plan which is currently underway.

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Thu, 25 May 2017 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178300/impact-minerals-plans-new-massive-sulphide-drill-targets-178300.html
<![CDATA[News - Impact Minerals: Access latest PPT from Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/177948/impact-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-177948.html Impact Minerals (ASX:IPT) managing director, Dr Mike Jones, joined Proactive's CEO Sessions in Melbourne on Tuesday 16th May and Sydney on Wednesday 17th May.

The company has three large and significant precious and base metal exploration projects in Australia.

These are the Commonwealth and Broken Hill Projects in New South Wales and the Mulga Tank Project in Western Australia.

ACCESS THE FULL PRESENTATION HERE

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Fri, 19 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177948/impact-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-177948.html
<![CDATA[News - Impact Minerals committed to making a discovery ]]> http://www.proactiveinvestors.com.au/companies/news/177963/impact-minerals-committed-to-making-a-discovery-177963.html Impact Minerals (ASX:IPT) has three large and significant precious and base metal exploration projects in Australia that it purchased in 2013 for $1 million.

These are the Commonwealth and Broken Hill Projects in New South Wales and the Mulga Tank Project in Western Australia.

Impact has carefully progressed exploration on all of the projects and encouraging high grade results have been returned from all three.

This work has reinforced Impact’s initial exploration concepts and its belief that properly executed exploration programs can lead to a significant discovery.

A share purchase plan (SPP) is currently in progress to raise funds to continue exploration on all three projects.

The SPP offers shareholders the ability to subscribe for shares priced at $0.018 with 1:2 free attaching options exercisable at $0.04 expiring 15 June 2020.

The exploration priority on completion of the SPP is at the 100% owned high-grade Commonwealth gold-silver-base metals project where a follow-up drill program is planned.

In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect within the Commonwealth project.

Drilling at Silica Hill 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.

Numerous targets along trend, at depth and in the surrounding area require drill testing.

Follow up work at the Broken Hill Project is to focus on platinum group metals, nickel, copper and cobalt and multiple drill targets for gold and nickel have been identified at the Mulga Tank Project.

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Thu, 18 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177963/impact-minerals-committed-to-making-a-discovery-177963.html
<![CDATA[News - Impact Minerals to open share purchase plan ahead of drilling ]]> http://www.proactiveinvestors.com.au/companies/news/177628/impact-minerals-to-open-share-purchase-plan-ahead-of-drilling-177628.html Impact Minerals (ASX:IPT) will open a share purchase plan (SPP) to current shareholders that aims to raise up to $4 million for a major upcoming drilling program.

In 2016 Impact made a high grade gold-silver discovery at the Silica Hill Prospect within its 100% owned Commonwealth gold-silver-base metal project located in New South Wales.

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.

Numerous targets along trend, at depth and in the surrounding area require drill testing.

Funds raised will be used towards a drill program of up to 3,000 metres of reverse circulation and diamond drilling to test these targets as well as drilling at the high grade Broken Hill copper-nickel-platinum group metals project also located in New South Wales near Broken Hill.


Dr Mike Jones, managing director, commented

“This is a significant opportunity for existing shareholders to increase their participation in upcoming drill programs at the company’s emerging Commonwealth project, where we will start drilling in June, as well as at our Broken Hill copper-nickel-PGM project.

“Both projects have already delivered exceptional high grade drill results that require follow up work as well as numerous new drill targets from our ongoing work.

“I believe the targets we are going to drill have exceptional merit and I will be taking up my full allocation of shares.”


SPP details

The SPP will raise up to $4 million through the offer of 222.3 million shares priced at $0.018 and 3:2 attaching options exercisable at $0.04 and expiring June 15, 2020.

Eligible shareholders will be able to subscribe for up to $15,000 of new shares in the SPP.

Any shares and attaching options not subscribed for under the SPP will be offered under a shortfall offer.

Key dates include:

10 May 2017: Record date
15 May 2017: Lodgement of prospectus
19 May 2017: Opening of SPP and shortfall offer
9 June 2017: Closing of SPP
16 June 2017: Closing of shortfall offer

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Thu, 11 May 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177628/impact-minerals-to-open-share-purchase-plan-ahead-of-drilling-177628.html
<![CDATA[News - Impact Minerals to lift cash balance ahead of drilling program ]]> http://www.proactiveinvestors.com.au/companies/news/177544/impact-minerals-to-lift-cash-balance-ahead-of-drilling-program-177544.html Impact Minerals (ASX:IPT) has been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Friday 12th May 2017, or earlier if an announcement is made to the market.

Impact has identified its next drill targets to expand the recently discovered high grade gold-silver Silica Hill prospect within the Commonwealth Project in New South Wales.

Recent drilling at the prospect revealed grades of up to 3,600 g/t silver and 23 g/t gold.

The new targets have been generated and prioritised for drilling from a detailed interpretation of induced polarisation (IP) data and from soil geochemistry data.

A review of exploration data has demonstrated strong similarities between the mineralised system at Commonwealth-Silica Hill and the very high grade Eskay Creek Mine in Canada.

Drilling will commence once environmental approvals have been granted, which are expected within the next few weeks.

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Wed, 10 May 2017 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177544/impact-minerals-to-lift-cash-balance-ahead-of-drilling-program-177544.html
<![CDATA[News - Impact Minerals sees similarities to major Canadian gold-silver mine ]]> http://www.proactiveinvestors.com.au/companies/news/177475/impact-minerals-sees-similarities-to-major-canadian-gold-silver-mine-177475.html Impact Minerals (ASX:IPT) has identified its next drill targets to expand the recently discovered high grade gold-silver Silica Hill prospect within the Commonwealth Project in New South Wales.

Recent drilling at the prospect revealed grades of up to 3,600 g/t silver and 23 g/t gold.

The new targets have been generated and prioritised for drilling from a detailed interpretation of induced polarisation (IP) data and from soil geochemistry data.

A review of exploration data has demonstrated strong similarities between the mineralised system at Commonwealth-Silica Hill and the very high grade Eskay Creek Mine in Canada.

Drilling will commence once environmental approvals have been granted, which are expected within the next few weeks.


Silica Hill discovery

At the Silica Hill prospect Impact has discovered robust widths and grades of gold and silver over an area of 200 metres by 100 metres down to a depth of 120 metres below surface.

Drill intercepts include 74.5 metres at 2.9 g/t gold equivalent including 16 metres at 7 g/t gold equivalent.

Intercepts include narrower zones of high grade gold and very high grades of silver including 0.9 metres at 3,150 g/t silver and 2 g/t gold.

The style and nature of mineralisation discovered at Silica Hill is similar to that encountered within the Commonwealth deposit.

This demonstrates that the mineralisation at the two prospects is part of one larger system and may be linked at depth.


Gold-rich VMS system

The mineralisation at Commonwealth-Silica Hill belongs to a class of deposits known as gold-rich volcanogenic massive sulphide (VMS) systems.

The well-known Eskay Creek deposit in British Columbia, Canada contained over 4 million ounces of gold and 180 million ounces of silver is similar to Impact’s emerging discovery.

Eskay Creek contained numerous very gold and silver rich ore shoots over a vertical extent of at least 700 metres.


Pre-drilling exploration

The targets have been generated and prioritised for drilling from a detailed interpretation of three lines of IP data and from soil geochemistry data.

The size and strength of the IP anomalies and their coincidence with strong gold- and very strong silver-in soil anomalies is very encouraging for the discovery of further high grade gold and silver mineralisation.

The coming drill program will be highly anticipated.

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Tue, 09 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177475/impact-minerals-sees-similarities-to-major-canadian-gold-silver-mine-177475.html
<![CDATA[News - Impact Minerals confirms cobalt deposit potential ]]> http://www.proactiveinvestors.com.au/companies/news/177396/impact-minerals-confirms-cobalt-deposit-potential-177396.html Impact Minerals (ASX:IPT) has further reviewed previous exploration data to confirm the potential for two styles of standalone cobalt deposits at its 100% owned Broken Hill Project in New South Wales.

The styles include the Thackaringa style pyrite-cobalt deposit, similar to a nearby deposit being considered for development, and an ironstone related copper-cobalt-gold deposit.

Little systematic exploration for either of these two deposit styles has occurred throughout Impact’s significant 517 square kilometre tenement holding in the Broken Hill region.

Impact believes two prospects on the Broken Hill Project represent these two styles of cobalt deposit – the Pine Creek and Copper King prospects.

Impact remains committed to exploration at Broken Hill for nickel-copper-platinum group metal (PGM) deposits but believes cobalt-copper-gold and silver-lead-zinc warrant further work.


Pine Creek prospect

The Pine Creek Prospect occurs in the same rocks that host the Thackaringa deposits, which total 33 million tonnes at 0.08% cobalt, some 30 kilometres to the south.

Exploration in the 1980s saw two drill holes intersect extensive pyrite with cobalt grades from 0.02% to 0.15% over at least 122 metres and ended in mineralisation.

Assay results returned 92 metres of 0.04% cobalt.


Copper King prospect

Previous work at Copper King has identified an anomalous copper-cobalt-gold trend up to 3.5 kilometres long which is in part defined by variably magnetic ironstone units.

However the focus was mainly on copper exploration and assays for both gold and cobalt are minimal.

Rock chip samples range up to 0.13% cobalt and 0.75 g/t gold.

Three trenches dug in 2012 across parts of the trend near old workings returned up to 23 metres at 1.5% copper and 4 g/t silver including 1.5 metres at 3.2% copper.


Cobalt review

The review has been spurred by cobalt currently undergoing a significant re-rating as a strategic battery metal.

The increasing use of cobalt, as well as the demand from consumers for ethically sourced cobalt, has contributed to a recent price rise to over US$55,000 per metric tonne.

Cobalt is mostly mined as a by-product of copper or nickel, meaning pure cobalt deposits are rare.


Upcoming drill program

Impact plans to commence a major follow up drill program at its 100% owned Commonwealth Project 100 kilometre north of Orange in New South Wales.

Previous drill results show significant mineralisation has been intersected in six drill holes so far at the Silica Hill prospect, over an area of 200x100 metres down to a depth of 120 metres.

Impact has been selected as one of three finalists for New South Wales Explorer of the Year for the Silica Hill discovery.

A significant number of targets for follow up work have been identified over the past 16 months of intensive work by Impact, and these have been prioritised for drilling.

An initial program of 3,000 metres of reverse circulation and diamond drilling is planned for the priority areas with scope to extend the program as warranted.

The results of this work will be used in a new resource statement for the project later in 2017.

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Mon, 08 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177396/impact-minerals-confirms-cobalt-deposit-potential-177396.html
<![CDATA[News - Impact Minerals eyes further nickel-copper-PGM potential at Broken Hill ]]> http://www.proactiveinvestors.com.au/companies/news/177199/impact-minerals-eyes-further-nickel-copper-pgm-potential-at-broken-hill-177199.html Impact Minerals (ASX:IPT) continues to unravel the potential of its wholly-owned Broken Hill Project in New South Wales.

A helicopter-borne VTEM survey has identified eight areas for follow up exploration for high grade deposits of nickel, copper, platinum group metals (PGM) and cobalt.

The survey was conducted over the Rockwell to Little Broken Hill Trend.

The eight areas are spread along the Trend and are within or at the margins of an maficultramafic complex interpreted from regional magnetic and gravity data to be about eight kilometres long and up to 750 metres wide.


Potential of Rockwell-Little Broken Hill

The Rockwell-Little Broken Hill are lies south of a major shear zone that separates it from the Red Hill Prospect and has been very poorly explored due to extensive shallow alluvial cover.

The importance of Red Hill is that previous drilling delivered exceptional grades including a stand out intercept of: 1.2 metres at 283 g/t (9.1 ounces) platinum equivalent.


Next steps

Further interpretation and modelling of the VTEM data is in progress and follow up ground work will commence once completed.

This work will include field checking, surface geochemical sampling and ground geophysical surveys where required to identify targets for drilling.

Any targets identified will be drill tested together with follow up drilling at Red Hill.

The VTEM survey along the Moorkai Trend will be completed later in the year.

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Wed, 03 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177199/impact-minerals-eyes-further-nickel-copper-pgm-potential-at-broken-hill-177199.html
<![CDATA[News - Impact Minerals prepares for eagerly awaited follow-up drilling ]]> http://www.proactiveinvestors.com.au/companies/news/176700/impact-minerals-prepares-for-eagerly-awaited-follow-up-drilling-176700.html Impact Minerals (ASX:IPT) plans to commence a major follow up drill program in May at its 100% owned Commonwealth Project 100 kilometre north of Orange in New South Wales.

Previous drill results show significant mineralisation has been intersected in six drill holes so far at the Silica Hill prospect, over an area of 200x100 metres down to a depth of 120 metres.

A significant number of targets for follow up work have been identified over the past 16 months of intensive work by Impact, and these have been prioritised for drilling.

An initial program of 3,000 metres of reverse circulation and diamond drilling is planned for the priority areas with scope to extend the program as warranted.

The results of this work will be used in a new resource statement for the project later in 2017.


Drill program details

A preliminary compilation of previous exploration data on Impact’s extensive regional landholdings has identified numerous areas for follow up work.

The main areas to be drill tested include:

- The down dip and along trend extensions to the Silica Hill prospect;
- Targets at depth and along trend from the Commonwealth resource 100 metres south east of Silica Hill; and
- New induced polarisation targets at the Welcome Jack prospect.

Work has also recently commenced on regional targets.

At the Greenobbys Prospect, the first regional prospect visited, an undrilled vein system at least 500 metres long has been identified and rock chip samples have returned up to 9 g/t gold and 215 g/t silver with associated metals suggesting similarities with Silica Hill.


The emergence of Silica Hill

At the Silica Hill prospect Impact has recently discovered robust widths and grades of gold and silver over an area of 200 metres by 100 metres down to a depth of 120 metres below surface.

Drill intercepts include 74.5 metres at 2.9 g/t gold equivalent including 16 metres at 7 g/t gold equivalent.

Intercepts include narrower zones of high grade gold and very high grades of silver including 0.9 metres at 3,150 g/t silver and 2 g/t gold.

The style and nature of mineralisation discovered at Silica Hill is similar to that encountered within the Commonwealth deposit.

This demonstrates that the mineralisation at the two prospects is part of one larger system and may be linked at depth.

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Fri, 21 Apr 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176700/impact-minerals-prepares-for-eagerly-awaited-follow-up-drilling-176700.html
<![CDATA[News - Impact Minerals sees cobalt potential near Broken Hill ]]> http://www.proactiveinvestors.com.au/companies/news/174177/impact-minerals-sees-cobalt-potential-near-broken-hill-174177.html Impact Minerals (ASX:IPT) has identified potential for cobalt mineralisation after reviewing data from its 100% owned Broken Hill Project in New South Wales.

The review showed that Impact’s ground is prospective for three different styles of cobalt mineralisation including the mineral featuring as a by-product and as a standalone resource.

Firstly, cobalt associated with high grade nickel-copper-PGM mineralisation, secondly, pyrite-cobalt deposits, and thirdly, cobalt commonly associated with copper in ironstones.

Exploration for cobalt will be integrated into Impact’s program of work for the other styles of mineralisation for which the licences are prospective.

All data, including the electromagnetic survey due to commence next week at the Broken Hill Project, will be integrated to identify priority areas for follow up work including drilling.


Broken Hill project

The Broken Hill project covers 517 square kilometres of ground close to and south of the large-scale Broken Hill lead-zinc-silver mine in New South Wales.

The project is prospective for deposits of nickel, copper and platinum group minerals (PGMs) as well as lead, zinc and silver.

Impact’s focus has been on the discovery of massive nickel-copper sulphides at the Red Hill, Platinum Springs and Little Darling Creek prospects.

To that aim a helicopter borne electromagnetic survey is scheduled to commence next week to cover 25 kilometres of strike of ultramafic-mafic rocks that host the mineralisation discovered to date.

A total of 350 line kilometres of flying will be completed with results expected by early April.


Red Hill and Platinum Springs hosts cobalt

Previous drilling that discovered high grade nickel-copper-PGM at the Red Hill and Platinum Springs prospect, although not reported at the time, contains cobalt mineralisation.

Intersections of cobalt include:

- 1.2 metres at 0.5% cobalt;
- 1.9 metres at 0.1% cobalt;
- 5.2 metres at 0.06% cobalt;
- 1.6 metres at 0.013% cobalt; and
- 0.6 metres at 0.016% cobalt.

Cobalt mineralisation in the Broken Hill area is also associated with various types of ironstone and variably with copper and sometimes gold.

Four target areas for these styles of mineralisation have been identified from the previous exploration data in the north east part of Impact’s licences.


Standalone cobalt potential

Although the Broken Hill region of New South Wales Australia is well known for its silver-lead-zinc mineralisation, it is also well endowed with extensive cobalt mineralisation including the Thackaringa Cobalt Project.

Thackaringa is located 25 kilometres west of Broken Hill and about 3 to 5 kilometres west of Impacts extensive tenement holdings.

Cobalt Blue Holdings’ (ASX:COB) Thackaringa deposit is one of the world’s largest undeveloped cobalt resources.

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Fri, 03 Mar 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174177/impact-minerals-sees-cobalt-potential-near-broken-hill-174177.html
<![CDATA[News - Impact Minerals intersects thick gold-silver in two latest drill holes ]]> http://www.proactiveinvestors.com.au/companies/news/173500/impact-minerals-intersects-thick-gold-silver-in-two-latest-drill-holes-173500.html Impact Minerals (ASX:IPT) has received new drill assays and other data from the Commonwealth-Silica Hill area at the 100%-owned Commonwealth Project located 100 kilometres from Orange in New South Wales.

Assay data from two drill holes at Silica Hill has returned thick widths of up to 126 metres of modest gold and silver mineralisation.

Significantly, this confirms the continuity of the mineralised system for a further 50 metres down dip.

Together with previous drill results significant mineralisation has now been intersected in six drill holes so far at Silica Hill, over an area of 200x100 metres down to a depth of 120 metres.

The mineralisation is open in all directions including up dip.

The new induced polarisation and soil geochemistry data also shows that the area partly drilled by Impact covers only the southern quarter of a much larger target area.


Drill result details

Two diamond drill holes were completed in late 2016 and returned the following assay results:

- Hole CMIPT048: 126 metres at 0.6 g/t gold and 25 g/t silver from 33 metres depth; and
- Hole CMIPT049 returned numerous zones of between 5 g/t and 50 g/t silver in a 70 metre thick zone of mineralisation with best assays of 13 metres at 0.1 g/t gold and 49 g/t silver from 174 metres.

These results follow up the original four holes, which assayed:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.


New induced polarisation and soil data

New induced polarisation geophysical data has identified three significant target areas that have not been drilled in the Silica Hill and Commonwealth area.

All of these areas require follow up work including drilling.

Furthermore, a strong gold- and silver-in-soil anomaly that is up to 1,000 metres by 1,000 metres in dimension has now been defined north of the area drilled at Main Shaft and Silica Hill.

Only about 10% of this area has been drill tested and the strongest and largest part of the anomaly lies to the north and north east of the area drilled.

New environmental approvals will be required in this area.


Analysis

Significant mineralisation has now been intersected in six drill holes so far at Silica Hill, over an area of 200 metres by 100 metres down to a depth of 120 metres below surface.

The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset.

A much larger follow up drill program than anticipated is being planned with the aim of commencing as soon as practicable, potentially in April.

The style and nature of mineralisation discovered at Silica Hill is similar to that encountered within the Commonwealth deposit.

This demonstrates that the mineralisation at the two prospects is part of one larger system and may be linked at depth.

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Wed, 22 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173500/impact-minerals-intersects-thick-gold-silver-in-two-latest-drill-holes-173500.html
<![CDATA[News - Impact Minerals prepares for assays from Silica Hill gold-silver discovery ]]> http://www.proactiveinvestors.com.au/companies/news/173299/impact-minerals-prepares-for-assays-from-silica-hill-gold-silver-discovery-173299.html Impact Minerals (ASX:IPT) is expecting assays next week from the most recent two diamond drill holes completed at the Silica Hill prospect within the Commonwealth project in New South Wales.

The discovery at Silica Hill was made last year and featured intersections including 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres.

Drilling has yielded grades of up to 3,600 g/t silver and 23 g/t gold.

In addition, results from soil geochemistry and induced polarisation surveys have recently been received and are being interpreted to prioritise areas for follow-up drilling.

Elsewhere, an electromagnetic survey will commence next week at Impact’s Broken Hill nickel-copper-PGE project.


Drilling at Silica Hill

The most recent two holes at Silica Hill follow up the original four holes, which assayed:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.

The current drill program commenced in early December and comprises up to 2,000 metres of reverse circulation and diamond drilling.

Two diamond holes have been completed for 434 metres with the remainder to be completed during the current quarter.


Broken Hill project

The Broken Hill project covers about 280 square kilometres of ground close to and south of the large-scale Broken Hill lead-zinc-silver mine in New South Wales.

The project is prospective for deposits of nickel, copper and platinum group elements (PGEs) as well as lead, zinc and silver.

Impact’s focus has been on the discovery of massive nickel-copper sulphides at the Red Hill, Platinum Springs and Little Darling Creek prospects.

To that aim a helicopter borne electromagnetic survey is scheduled to commence next week to cover 25 kilometres of strike of ultramafic-mafic rocks that host the mineralisation discovered to date.

A total of 350 line kilometres of flying will be completed with results expected by early April.

Mulga Tank soil geochemistry update

Impact also owns 100% of the 420 square kilometre Mulga Tank project located 200 kilometres northeast of Kalgoorlie.

The project is prospective for gold and nickel deposits.

The results of 2,500 soil geochemistry samples have been received and are being interpreted.

A number of gold and nickel anomalies have been identified and these are being prioritised for follow up work including drilling.

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Fri, 17 Feb 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173299/impact-minerals-prepares-for-assays-from-silica-hill-gold-silver-discovery-173299.html
<![CDATA[News - Impact Minerals banks tax refund ]]> http://www.proactiveinvestors.com.au/companies/news/171576/impact-minerals-banks-tax-refund-171576.html The funds will be used to advance exploration at the company’s Silica Hill gold-silver discovery where drilling in 2016 returned very high grade gold and silver.

Highlights include: 0.3 metres at 23 g/t gold and 1,110 g/t silver within large bulk mineable widths such as 41.3 metres at 2.0 g/t gold and 176 g/t silver from 61 metres.

The Silica Hill Prospect is part of the Commonwealth Project and located about 100 kilometres north of Orange in New South Wales.

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Fri, 13 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171576/impact-minerals-banks-tax-refund-171576.html
<![CDATA[News - Impact Minerals extends mineralisation at Silica Hill gold-silver discovery ]]> http://www.proactiveinvestors.com.au/companies/news/170771/impact-minerals-extends-mineralisation-at-silica-hill-gold-silver-discovery-170771.html Impact Minerals (ASX:IPT) has extended sulphide mineralisation by up to 50 metres in the first two drill holes of follow up drilling at the Silica Hill gold-silver discovery within the Commonwealth project located near Orange, New South Wales.

The preliminary observations from the first two holes in the planned 2,000 metre program shows mineralisation comprises multiple narrow veins and veinlets together with disseminated sulphides in the rock surrounding the veins.

Readings with a portable XRF instrument on both holes indicate silver mineralisation grades of more than 100 g/t occurs in many places both in the veins and the surrounding rock.

Visually significant mineralisation has now been intersected in six drill holes so far at Silica Hill with an average true thickness of between 50 metres and 70 metres.

Assays for the two drill holes are expected by late January.


Drilling at Silica Hill

The latest two holes follow up the original four holes, which assayed:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.

Grades within these intersections measured up to 3,600 g/t silver and 23 g/t gold.

The current drill program, which will comprise up to 2,000 metres of diamond and reverse circulation drilling is designed to test for extensions to this mineralisation as well as further depth extensions to the Commonwealth deposit centred about 200 metres south west of Silica Hill.

Drilling has now ceased for the Christmas period and will recommence in early February. Statutory approvals are still awaited for some of the drill holes and it is anticipated these will be granted in January.


Analysis

Visually significant mineralisation has now been intersected in six drill holes so far at Silica Hill, over an area of 200 metres by 100 metres down to a depth of 120 metres below surface.

The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset.

Assays will be highly anticipated by the market and keeps Impact leveraged to exploration based news flow over the short term.

The style and nature of mineralisation in discovered at Silica Hill is similar to that encountered within the Commonwealth deposit.

This demonstrates that the mineralisation at the two prospects is part of one larger system and may be linked at depth.

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Wed, 21 Dec 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170771/impact-minerals-extends-mineralisation-at-silica-hill-gold-silver-discovery-170771.html
<![CDATA[News - Impact Minerals commences follow-up drilling at gold-silver discovery ]]> http://www.proactiveinvestors.com.au/companies/news/169931/impact-minerals-commences-follow-up-drilling-at-gold-silver-discovery-169931.html Impact Minerals (ASX:IPT) has commenced follow-up drilling at the high-grade Silica Hill gold-silver prospect within the Commonwealth project located 100 kilometres north of Orange, New South Wales.

The program will comprise up to 2,000 metres of reverse circulation and diamond drilling, of which about 500 metres is expected to be completed before Christmas.

Significant gold and silver mineralisation has been intersected in four drill holes so far at Silica Hill including 74.5 metres at 1.2 g/t gold and 106 g/t silver.

Mineralisation has been intercepted over an area of 200 x 100 metres down to a depth of 100 metres and with an average true thickness of circa 50 metres.

The drill program is designed to test for extensions to this mineralisation as well as further depth extensions to the Commonwealth deposit centred about 200 metres south west of Silica Hill.


Drilling at Silica Hill

The mineralisation comprises disseminated sulphide, veins and semi-massive sulphide veins.

Highlights from the four holes drilled and assayed include:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.

Grades within these intersections measure up to 3,600 g/t silver and 23 g/t gold.

The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset.


Connection between Silica Hill and Commonwealth deposit

The style and nature of mineralisation in discovered at Silica Hill is similar to that encountered within the Commonwealth deposit.

This demonstrates that the mineralisation at the two prospects is part of one larger system and may be linked at depth.

Areas where the two styles of mineralisation may connect will be priority target areas.


Analysis

The commencement of this new drilling program leverages Impact to further exploration news flow from a prospect known to host  gold-silver mineralisation.

The high grade gold and very high grade silver results discovered there to date have recently been verified by experts.

Separate recent visits to Silica Hill by two world-renowned experts in this particular style of mineralisation have independently confirmed Impact’s belief that the discovery has the potential to grow significantly.

With 100% ownership of the Commonwealth Project, Impact will receive the full benefit of any success from this follow-up drill program.

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Mon, 05 Dec 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169931/impact-minerals-commences-follow-up-drilling-at-gold-silver-discovery-169931.html
<![CDATA[News - Impact Minerals Ltd to follow-up high grade gold-silver discovery with drilling ]]> http://www.proactiveinvestors.com.au/companies/news/169511/impact-minerals-ltd-to-follow-up-high-grade-gold-silver-discovery-with-drilling-169511.html Impact Minerals Ltd (ASX:IPT) will commence a follow-up drill program by early December at the high-grade Silica Hill gold-silver prospect within the Commonwealth project located 100 kilometres north of Orange, New South Wales.

Significant gold and silver mineralisation has been intersected in four drill holes so far at Silica Hill including 74.5 metres at 1.2 g/t gold and 106 g/t silver.

Mineralisation has been intercepted over an area of 200 x 100 metres down to a depth of 100 metres and with an average true thickness of circa 50 metres.

Impact has been notified by Squadron Resources Ltd that it will not exercise an option to earn a 19.9% interest in the Commonwealth and Broken Hill project.

Dr Mike Jones, managing director, commented: “With continued 100% ownership we can move forward with clarity and more options to maximise returns for our shareholders.”


Drill program details

The program will comprise up to 2,000 metres of reverse circulation and diamond drilling, of which about 500 metres is expected to be completed before Christmas.

The drill program is designed to test for extensions to the mineralisation as well as further depth extensions to the Commonwealth deposit centred about 200 metres south west of Silica Hill.

Drilling is estimated to commence within two weeks.


Silica Hill

The mineralisation comprises disseminated sulphide, veins and semi-massive sulphide veins.

Highlights from the four holes drilled and assayed include:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.

Grades within these intersections measure up to 3,600 g/t silver and 23 g/t gold.

The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset.


Analysis

With drilling to begin within two weeks at Silica Hill, Impact will be leveraged to further exploration news flow from a prospect known to host  gold-silver mineralisation.

The high grade gold and very high grade silver results discovered there to date have recently been verified by experts.

Separate recent visits to Silica Hill by two world-renowned experts in this particular style of mineralisation have independently confirmed Impact’s belief that the discovery has the potential to grow significantly.

With 100% ownership of the Commonwealth Project, Impact will receive the full benefit of any success from this follow-up drill program.

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Fri, 25 Nov 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169511/impact-minerals-ltd-to-follow-up-high-grade-gold-silver-discovery-with-drilling-169511.html
<![CDATA[News - Impact Minerals Ltd to fast track follow-up drilling at gold-silver discovery ]]> http://www.proactiveinvestors.com.au/companies/news/168884/impact-minerals-ltd-to-fast-track-follow-up-drilling-at-gold-silver-discovery-168884.html Impact Minerals Ltd (ASX:IPT) will fast-track it’s follow-up drill program at its high grade gold-silver discovery at the Silica Hill prospect within the 100% owned Commonwealth Project located 100 kilometres north of Orange, New South Wales.

Drilling will now commence by early December and comprise of 2,000 metres of reverse circulation and diamond drilling.

Significant gold and silver mineralisation has been intersected in four drill holes so far at Silica Hill over an area of 200 metres by 100 metres down to a depth of 100 metres.

Highlights include 74.5 metres at 2.9 g/t gold equivalent.

An estimated 500 metres of drilling will be completed before Christmas.


Silica Hill

The mineralisation comprises disseminated sulphide, veins and semi-massive sulphide veins.

Highlights from the four holes drilled and assayed include:

- 74.5 metres at 1.2 g/t gold and 106 g/t silver or 2.9 g/t gold equivalent from 61 metres;
- 48.6 metres at 0.5 g/t gold and 137 g/t silver or 2.5 g/t gold equivalent from 122 metres;
- 68 metres at 0.5 g/t gold and 43 g/t silver or 1.3 g/t gold equivalent from 99 metres; and
- 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres.

Grades within these intersections measure up to 3,600 g/t silver and 23 g/t gold.

The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset.

The upcoming drill program is designed to test for extensions to this mineralisation as well as further depth extensions to the Commonwealth deposit centred about 200 metres south west of Silica Hill.


Investment by Squadron

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

Squadron must make a decision to invest a further $1 million into either or both projects, which could provide Impact with valuable funding in the short term.

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Mon, 14 Nov 2016 09:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168884/impact-minerals-ltd-to-fast-track-follow-up-drilling-at-gold-silver-discovery-168884.html
<![CDATA[News - Impact Minerals swells footprint in Lachlan Fold Belt ]]> http://www.proactiveinvestors.com.au/companies/news/167393/impact-minerals-swells-footprint-in-lachlan-fold-belt-167393.html Impact Minerals Ltd (ASX:IPT) is boosting its footprint in the highly prospective Lachlan Fold Belt in New South Wales.

Impact has applied for three new exploration licences both adjacent and close to its existing wholly-owned Commonwealth Project.

The new licences are prospective for gold, silver and base metals similar to that found at the Silica Hill Prospect at Commonwealth.

At Silica Hill, Impact recently made a breakthrough discovery of high grade gold and very high grade silver.

Highlights include: 41.3 metres at 2.0g/t gold and 176 g/t silver (4.7 g/t gold equivalent) from 61 metres.

This intercept included: 16.3 metres at 3.7g/t gold and 246g/t silver (7.6g/t gold equivalent); and 1.7 metres at 3.8g/t gold and 1,176g/t silver.

Dr Mike Jones, managing director, commented:

"The work we have done at Commonwealth over the past three years has shown that rocks on both the eastern and western side of the Molong Belt which hosts the Cadia-Ridgeway Mine and which were perceived to be relatively unprospective, do in fact have tremendous potential for the discovery of deposits similar to the Commonwealth deposit and our emerging high grade gold-silver discovery at Silica Hill.

"We have also shown that good detective work using good old fashioned geological thinking and field work can lead to exploration breakthroughs.

"Like Commonwealth when we acquired the project, this new ground contains abundant mineralised locations most of which have not been drilled and are poorly understood.

"They are exciting projects to be working on."

The licences will be wholly-owned by Impact and will not form part of the investment agreement with Squadron Resources Pty Ltd.


New license details

The new licences bring Impact’s total ground holdings in the Lachlan Fold Belt to 1,000 square kilometres.

The belt is home to numerous gold and copper mines including the Cadia-Ridgeway deposits that contain more than 25 million ounces of gold and 10 million tonnes of copper.


Squadron Resources investment

The Commonwealth gold-silver-zinc-lead project and also Impact’s Broken Hill platinum-copper-nickel project are part of an investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.


Analysis

For Impact to be able to put its foot on such a significant ground holding in the richly mineralised Lachlan Fold Belt is a very positive development for the company.

Once the licenses are granted, Impact can then conduct a comprehensive review of previous exploration data before commencing field programs.

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Fri, 14 Oct 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167393/impact-minerals-swells-footprint-in-lachlan-fold-belt-167393.html
<![CDATA[News - Impact Minerals Ltd drills bonanza 101 ounces of silver at Commonwealth ]]> http://www.proactiveinvestors.com.au/companies/news/165295/impact-minerals-ltd-drills-bonanza-101-ounces-of-silver-at-commonwealth-70824.html Impact Minerals Ltd (ASX:IPT) has received assays grading up to 3,146 g/t (101 ounces) silver from the second diamond hole drilled at the Silica Hill discovery within the 100% owned Commonwealth Project in New South Wales.

The overall intercept for hole CMIPT011 is 48.6 metres at 137 g/t silver and 0.5 g/t gold from 122 metres.

Assays for the third diamond hole at Silica Hill are pending as drilling continues at the Welcome Jack prospect.

Dr Mike Jones, managing director, commented: “To get grades this good in this particular part of the system is very encouraging for further high-grade mineralisation at depth.

“We look forward to further drilling as we continue in our search to uncover what lies beneath Silica Hill”.


Drill hole results

CMIPT011 is the second of three holes drilled at Silica Hill.

The first hole, CMIPT043 produced 68 metres at 0.5 g/t gold, 43 g/t silver, 0.2% zinc and 0.1% lead or 1.3 g/t gold equivalent from 99 metres.

The second hole, CMIPT011 has produced 48.6 metres at 137 g/t silver and 0.5 g/t gold or 2.5 g/t gold equivalent from 122 metres depth.

This included the upper silver rich part of 1.75 metres at 1,785 g/t silver, 1.8 g/t gold from 147.7 metres including 0.9 metres at 3,146 g/t silver and 2.4 g/t gold.

It also included a lower gold rich zone of 23 metres at 224 g/t silver, 1.0 g/t gold from 147.7 metres including 1.1 metres at 4.7 g/t gold and 23 g/t silver.

Significant silver-gold mineralisation has now been intersected over an area of 200 metres by 100 metres and down to a depth of 100 metres below surface.


Next steps at Silica Hill

Drilling at Silica Hill consisted of three diamond holes with assays from the third hole still pending.

The third hole intersected the widest zone of mineralisation being a 70 metre thick zone of vein and disseminated sulphide mineralisation.

Down hole electromagnetic surveys will now be completed at Silica Hill.

All data from Silica Hill and the other prospects tested in this drill programme is now being compiled to prioritise follow up drilling.


Analysis

Assays from the second diamond hole at Silica Hill show exceptional silver grades and indicate that the silver and gold grade is increasing with depth.

Furthermore, assays from the third hole, which intersected the widest mineralised zone of the three holes are pending and will be highly anticipated as Impact looks to uncover an economic resource.

The company will continue to be leveraged to exploration upside as it awaits assays and diamond drilling continues at the Welcome Jack prospect.

The share price climbed higher again intra-day on the news, currently trading at $0.035.

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

Squadron has 90 days to make a decision to invest a further $1 million into either or both projects, which could provide Impact with valuable funding.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 02 Sep 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165295/impact-minerals-ltd-drills-bonanza-101-ounces-of-silver-at-commonwealth-70824.html
<![CDATA[News - Impact Minerals Ltd intersects widest mineralised zone to date at Commonwealth ]]> http://www.proactiveinvestors.com.au/companies/news/165294/impact-minerals-ltd-intersects-widest-mineralised-zone-to-date-at-commonwealth-70768.html Impact Minerals Ltd (ASX:IPT) has intersected a 70 metre thick zone of vein and disseminated sulphide mineralisation in its third drill hole at the emerging Silica Hill prospect within the Commonwealth Project, New South Wales.

The intersection started at 33 metres below surface and contained visible silver and a 20 metre visible molybdenum sulphide interval.

Mineralisation is open in all directions including up-dip towards the surface.

The diamond drill rig has now moved to the Welcome Jack prospect, while downhole surveys are completed at Silica Hill.

Assays are expected later this week for the second diamond hole drilled which contained a 50 metre thick mineralised zone.


Dr Mike Jones, managing director, commented:

“Silica Hill continues to grow.

“This third significant drill hole has confirmed and extended the thick zone of silver mineralisation discovered in Holes 043 and 011 and shows that in this area the mineralised zone we have discovered has a true thickness of at least 50 metres.

“Importantly for any future possible mining operation, the mineralisation is coming close to surface which means there is now open pit potential.”


Assays pending

Three diamond holes have been drilled, all intersecting mineralisation at Silica Hill, CMIPT043, CMIPT011 and CMIPT046 (most recent hole).

Assays are still pending for CMIPT011 and CMIPT046 with CMIPT011 assays expected later this week.

The final intercept for Hole CMIPT043 was 68 metres at 0.5 g/t gold, 43 g/t silver, 0.2% zinc and 0.1% lead or 1.3 g/t gold equivalent from 99 metres.

This included the gold rich lower zone of 18 metres at 1.7 g/t gold, 24 g/t silver, 0.3% zinc and 0.2% lead or 2.3 g/t gold equivalent from 149 metres.

It also included the upper silver rich zone of 37 metres at 71 g/t silver, 0.1 g/t gold, 0.2% zinc and 0.1% lead from 99 metres.


Analysis

This new 70 metre mineralised intersection comes from the third diamond hole to be drilled at Silica Hill and confirms high grade silver with gold mineralisation over an area of 100 metres x 100 metres to a depth of 100 metres.

Assay results along with the planned downhole surveys will provide further evidence of what could be an economic deposit for Impact.

The company will continue to be leveraged to exploration upside as it awaits assays and diamond drilling continues at the Welcome Jack prospect.

The share price climbed higher intra-day on the news, currently trading at $0.032.

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165294/impact-minerals-ltd-intersects-widest-mineralised-zone-to-date-at-commonwealth-70768.html
<![CDATA[News - Impact Minerals Ltd drills 50 metre mineralised zone with visible silver ]]> http://www.proactiveinvestors.com.au/companies/news/165293/impact-minerals-ltd-drills-50-metre-mineralised-zone-with-visible-silver-70563.html Impact Minerals Ltd (ASX:IPT) has intersected a 50 metre thick zone of sulphide mineralisation at the emerging Silica Hill prospect within the 100% owned Commonwealth project, located in central New South Wales.

This second hole follows the recent first discovery hole which intersected a 68 metre thick zone.

The mineralised zone contains extensive visible silver and is materially more mineralised in zinc, lead and silver than the first hole.

The two recent holes at Silica Hill are diamond drill extensions of 15 metres and 30 metres of previously completed reverse circulation holes.

Assays from the first hole have now been received and assays from the second hole are expected in 10 days.

Dr Mike Jones, managing director, commented:

“This second hole adds a new dimension to the mineralised system that we are uncovering because it confirms that it is made up both of numerous veins of high and very high-grade precious and base metals, as well as fine grained mineralisation in the rock between the veins.

“Should this discovery continue to grow, such mineralisation has the potential to add significant tonnage to the resource already defined at the nearby Commonwealth deposit. 

“We continue to drill.”


First hole assays

The final intercept for Hole CMIPT043, which includes the additional 15 metre extension to the original hole is:

68 metres at 0.5 g/t gold, 43 g/t silver, 0.2% zinc and 0.1% lead or 1.3 g/t gold equivalent from 99 metres.

This included the gold rich lower zone of 18 metres at 1.7 g/t gold, 24 g/t silver, 0.3% zinc and 0.2% lead or 2.3 g/t gold equivalent from 149 metres.

It also included the upper silver rich zone of 37 metres at 71 g/t silver, 0.1 g/t gold, 0.2% zinc and 0.1% lead from 99 metres.


Connection between Main Shaft and Silica Hill

The style and nature of mineralisation is similar to that encountered within the Commonwealth deposit and further demonstrates that the mineralisation at the two prospects is part of one larger system.

It is possible that the mineralisation at Silica Hill and Main Shaft may be linked at depth.

Areas where the two styles of mineralisation may connect will be priority target areas.


Analysis

The results from these first two holes containing massive sulphides at Silica Hill are a strong indicator of the opportunity Impact has to grow the Commonwealth resource.

Assays received from the first discovery hole at Silica Hill confirm the upper silver-rich zone and lower gold-rich zones.

Mineralisation is terminated by a fault in both holes suggesting further mineralisation may
have been offset.

Mineralisation is open in all directions including up-dip.

Impact will continue to be leveraged to exploration upside as it awaits assays and a further diamond drill hole is in progress to test for a possible northern extension of the mineralisation.

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 19 Aug 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165293/impact-minerals-ltd-drills-50-metre-mineralised-zone-with-visible-silver-70563.html
<![CDATA[News - Impact Minerals Ltd delivers new discovery in early drilling at Silica Hill ]]> http://www.proactiveinvestors.com.au/companies/news/165292/impact-minerals-ltd-delivers-new-discovery-in-early-drilling-at-silica-hill-70306.html Impact Minerals Ltd's (ASX:IPT) shares have jumped 14.3% higher intra-day to $0.032 following a discovery at the company's wholly-owned Commonwealth Project, located 100 kilometres north of Orange in New South Wales.

A 75 metre thick zone of vein and disseminated sulphide mineralisation was intersected at the Silica Hill Prospect.

The mineralisation is in Hole IPT043 from 99 metres to 174 metres.

Assays have been received for the first 60 metres of the zone drilled by reverse circulation drilling. Results for the last 15 metres of the zone (diamond drilled) are expected in two to three weeks.

Together with the very high grade intercepts of massive sulphide recently revealed from the northern end of the Commonwealth deposit itself, this should lead to an increase in the project’s resource.


60 metres

The first 60 metres contains high grade silver veins with increasing gold and base metals down hole and returned an overall intercept of:

- 60 metres at 0.4g/t gold, 51g/t silver (1.6 ounces), 0.2% zinc and 0.1% lead, or 1.3g/t gold equivalent from 99 metres.

Within this intersection were high-grade silver intercepts such as: 1 metre at 525g/t silver (17 ounces); and 2 metres at 373g/t silver (12 ounces).

Further diamond drill hole is in progress to deepen a previous drill hole with an intercept of 20 metres at 44g/t silver and now interpreted to be at the top of the same mineralised zone.

Mineralisation is open in all directions including up-dip.


Dr Mike Jones, managing director, commented:

“This new discovery by Impact at Silica Hill is a very significant development for the Commonwealth Project.

"It demonstrates that very thick widths and also high grades of mineralisation exist outside the Commonwealth deposit and to get an intercept like this in our early drilling at the prospect is very encouraging.

"We are now keen to test this new discovery along trend and at depth where potentially it may even connect to the underlying massive sulphide.”


Connection between Main Shaft and Silica Hill

The style and nature of mineralisation revealed today is similar to that encountered in the rhyolite unit within the Commonwealth deposit and further demonstrates that the mineralisation at the two prospects is part of one larger system.

It is possible that the mineralisation at Silica Hill and Main Shaft may be linked at depth.

Areas where the two styles of mineralisation may connect will be priority target areas.


Additional prospects at Commonwealth

Silica Hill has shown its potential, with the pending diamond drilling results highly anticipated.

Impact also has exploration plans at other prospects.

Walls:

- Follow up drill holes to be completed along trend from the maiden drill hole at the Walls Prospect on the Welcome Jack Trend 1.2 kilometres east of Commonwealth that returned:

- 20 metres at 0.5 g/t gold and 27 g/t silver (1 g/t gold equivalent from 55 metres).

Commonwealth South:

- Further drill holes to test for down hole EM conductor close to recent drill intercept of: 13.6 metres at 2.1 g/t gold, 21 g/t silver, 0.4% zinc and 0.2% lead (2.6 g/t gold equivalent).


Investment by Squadron Resources Pty Limited

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

As part of the investment agreement, Squadron at its sole discretion, can invest a further A$1 million into either or both of the projects to earn a 19.9% interest after Impact has spent a combined total of $2.5 million on them.

It is anticipated that Impact will meet the $2.5 million expenditure target in the current quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 08 Aug 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165292/impact-minerals-ltd-delivers-new-discovery-in-early-drilling-at-silica-hill-70306.html
<![CDATA[News - Impact Minerals Ltd expands Commonwealth drilling program ]]> http://www.proactiveinvestors.com.au/companies/news/156483/impact-minerals-ltd-expands-commonwealth-drilling-program-70015.html Impact Minerals Ltd's (ASX:IPT) ongoing reverse circulation and diamond drill program at the wholly-owned Commonwealth Project is to be extended by 1000 metres to follow up encouraging results from the Silica Hill, Walls and Commonwealth Prospects.

The project is located 100 kilometres north of Orange in New South Wales.

Drilling is testing a number of targets identified by Impact at four separate locations: the Commonwealth deposit, Silica Hill, the Walls- Welcome Jack Trend, and Doughnut.


Prospects

Silica Hill:

- Three new drill targets identified from drill assays and breakthrough in understanding of the controls on high grade mineralisation.

- Two targets to be tested as part of ongoing drill program and both close to previous drill intercept of 20 metres at 44 g/t silver.

Walls:

- Follow up drill holes to be completed along trend from the maiden drill hole at the Walls Prospect on the Welcome Jack Trend 1.2 kilometres east of Commonwealth that returned:

- 20 metres at 0.5 g/t gold and 27 g/t silver (1 g/t gold equivalent from 55 metres).

Commonwealth South:

- Further drill holes to test for down hole EM conductor close to recent drill intercept of: 13.6 metres at 2.1 g/t gold, 21 g/t silver, 0.4% zinc and 0.2% lead (2.6 g/t gold equivalent).


Drilling assay timeline

Drilling is still in progress with assay results expected from Commonwealth South and Doughnut.

Impact said that the drill program was significantly delayed by heavy rainfalls over the past six weeks.


Investment by Squadron Resources Pty Limited

The Commonwealth project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact and Squadron Resources Pty Ltd.

Squadron is part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest.

As part of the investment agreement, Squadron at its sole discretion, can invest a further A$1 million into either or both of the projects to earn a 19.9% interest after Impact has spent a combined total of $2.5 million on them.

It is anticipated that Impact will meet the $2.5 million expenditure target in the current quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 25 Jul 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156483/impact-minerals-ltd-expands-commonwealth-drilling-program-70015.html
<![CDATA[News - Impact Minerals Ltd drills high grade extensions at Commonwealth ]]> http://www.proactiveinvestors.com.au/companies/news/156482/impact-minerals-ltd-drills-high-grade-extensions-at-commonwealth-69544.html Impact Minerals Ltd (ASX:IPT) has received initial assays from its drill program testing four targets in central west New South Wales - the Commonwealth deposit, Welcome Jack Trend, Silica Hill and Doughnut.

The targets are located within the Commonwealth Project, which hosts a high grade gold-silver-copper-lead-zinc Inferred Resource of 110,000 equivalent gold ounces.

High grade extensions of 7 metres at 17.7 g/t gold equivalent were intersected 30 metres down plunge from the Commonwealth resource.

Furthermore, the maiden drill hole on the Welcome Jack Trend discovered 20 metres at 0.5 g/t gold and 27 g/t silver.

Further assays from completed holes at Silica Hill are expected and targets are yet to be drilled at Commonwealth South and Doughnut.


Drill result details

Assays for three drill holes designed to test for extensions to the Commonwealth resource confirmed further high grade gold, silver and base metal mineralisation down plunge and along trend.

Results include:
- 7 metres at 6.3 g/t gold, 496 g/t silver, 7.2% zinc, 2.9% lead and 0.2% copper from 91 metres including 3 metres at 10.6 g/t gold, 571 g/t silver, 7.8% zinc, 2.1% lead and 0.2% copper; and
- 2.6 metres at 10.3 g/t gold, 55.7 g/t silver, 2.5% zinc and 0.9% lead from 88.1 metres.

The maiden drill hole on the Welcome Jack Trend located 1.2 kilometres from the Commonwealth resource intersected:
- 20 metres at 0.5 g/t gold and 27 g/t silver from 55 metres including 1 metres at 2.9 g/t gold and 144 g/t silver and 1.1% zinc.

The 3,000 metre reverse circulation and diamond drill program is still in progress at the Commonwealth Project.


Analysis

These initial assay results confirm Impact’s interpretation that high grade mineralisation at Commonwealth remains open down plunge with further drilling required.

The results demonstrate the potential for a significant increase to the current Inferred Resource at Commonwealth.

The first exploration drill hole on the Welcome Jack Trend returned an encouraging 20 metre thick zone of silver-gold mineralisation.

The maiden drill result is encouraging for the discovery of further high grade gold-silver mineralisation and indicates the potential for near surface open pitable resources.

More assays are expected as the drill program continues in its attempt to identify a multi-million ounce Cadia-Ridgeway style gold deposit within the Commonwealth Project.

The share price as performed well leading into this drilling campaign, trading up 24% over the past month at $0.031 per share.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 30 Jun 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/156482/impact-minerals-ltd-drills-high-grade-extensions-at-commonwealth-69544.html