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Impact Minerals Ltd opens Share Purchase Plan

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Impact Minerals Ltd (ASX:IPT) has today opened its $1 million Share Purchase Plan, with Patersons Securities Limited fully-underwriting.

The offer is priced at $0.024, and offered on a first-come first-served basis. Up to $15,000 can be invested per application.

Funds will be allocated to: $500,000 for a 3000 metre reverse drilling program at Commonwealth; $250,000 to drill the Broken Hill Project; $190,000 working capital and business opportunities; and costs of the offer.


Commonwealth Project

This new potential at the Commonwealth project has been identified using data from drill hole assays, two down-hole electromagnetic surveys and a ground gravity survey.

All three shoots are undrilled at depth and open, in particular below a previous Impact drill intercept of 4 metres at 41.8 g/t gold, 93 g/t silver, 5.5% zinc and 2.3% lead.

Gravity data has directly detected known high grade massive sulphide mineralisation and identifies possible depth extension. Gravity data also has identified three new nearby targets for massive sulphide mineralisation.


Key dates:

- Closing Date for SPP Offer (5:00 WST) 9 May 2016.
- Allotment and issue of Offer Shares 13 May 2016.
- Despatch of Holding Statements 13 May 2016.
- Quotation of New Shares on ASX 16 May 2016.

 

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Quick facts: Impact Minerals Ltd

Price: 0.014 AUD

ASX:IPT
Market: ASX
Market Cap: $21.77 m
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