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Impact Minerals Ltd identifies new targets to drill at Commonwealth

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Impact Minerals Ltd (ASX:IPT) has identified three new targets at the Silica Hill Prospect, and two new targets close to the Commonwealth deposit, which are all part of the wholly-owned Commonwealth gold-silver-zinc-lead-copper project in New South Wales.

The prospects, together with the Welcome Jack and Doughnut Prospects will be drill tested immediately following the closure of the current Share Purchase Plan (SPP).

The SPP will raise $1 million, and is fully underwritten by Patersons Securities Limited.

The drilling program will comprise both reverse circulation and diamond over 3000 metres.

Recently at the project, Impact identified at least three undrilled and open south plunging ore shoots.

This provides Impact with potential to add to Commonwealth’s already established resource of 100,000 ounces of gold equivalent.

The new targets are to be tested as part of an extensive drill program to be undertaken in the June quarter.

This could increase the size of known resource at the Commonwealth deposit and identified several new nearby targets for similar deposits of high grade massive sulphide.

 

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Quick facts: Impact Minerals Ltd

Price: 0.008 AUD

ASX:IPT
Market: ASX
Market Cap: $10.57 m
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