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Impact Minerals defines new high grade copper prospects at New South Wales project

Last updated: 16:00 26 Mar 2014 AEDT, First published: 15:00 26 Mar 2014 AEDT

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Impact Minerals (ASX: IPT) has defined new high grade copper prospects at its Commonwealth Project in New South Wales after rock chip samples returned assays of up to 18.2% copper and 58 grams per tonne silver.

This has extended the exploration potential to at least 2,500 metres from 600 metres.

It has also for the first time identified a copper-rich part of the mineralised trend that extends for 1,500 metres of strike northwest of the Commonwealth Mine and includes a line of workings associated with the dormant Coronation Mine.

Commonwealth Project


Impact had acquired the project as part of its recent merger with Invictus Gold.

The project is located 95 kilometres north of Orange in New South Wales and 50 kilometres north of the Cadia-Ridgeway deposits that contain 70 million ounces of gold and 12 million tonnes of copper within the highly prospective Lachlan Fold Belt.

Field checking of the area between the Commonwealth Mine and the Coronation Mine has identified numerous old shafts and workings over a strike extent of at least 1,500 metres that contain extensive copper oxide minerals, in particular malachite and azurite as well as copper sulphide minerals.

Impact has recently completed a further two weeks of field work at the Commonwealth project. A total of 450 soil and rock chip samples have been taken over the area between Commonwealth and Coronation and samples have been submitted to the laboratory for analysis.

Results are expected in about four weeks. The results of an IP survey over the Commonwealth Mine have also recently been received and are being interpreted.

The results of all of this work will be integrated to define further drill targets for drilling in the next Quarter. Drilling to define an Inferred Resource between Commonwealth Mine and Commonwealth South is also planned.

 

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