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Impact Minerals steps up exploration across gold and base metal projects

The company’s shares closed about 8% higher intra-day, at 1.3 cents.

Project area
Projects spread across Australia

Impact Minerals Limited (ASX:IPT) will ramp up exploration work over the next six months at four of its 100% owned gold and base metal projects across Australia.

Follow up drill programs are planned for the Commonwealth gold-silver-base metal project in New South Wales, the Clermont gold project in Queensland and the Mulga Tank gold and nickel project in Western Australia.

In addition, the first bulk samples will be taken at the Blackridge conglomerate gold project in Queensland in which Impact recently acquired an option to earn a 95% interest.

Notably, eleven of the most prospective targets for gold and other metals across the exploration portfolio will be drill tested by Impact.

Work will commence at Commonwealth and Clermont with drill rigs likely to be operating concurrently before moving on to Mulga Tank and Blackridge by about September-October.

At Commonwealth, all statutory approvals are in place to commence follow-up drilling at the Silica Hill Prospect where gold and high-grade silver intercepts were returned from the previous drill program.

READ: Impact Minerals shares rise as drilling reveals further breakthrough at Silica Hill

At Clermont, follow up drilling is planned at five targets to test previous high-grade drill intercepts and soil geochemistry anomalies.

The Clermont drill program will commence on completion of Land Access Agreement negotiations which are on-going and expected to be completed in early July.

At Mulga Tank in Western Australia, Impact has identified a signficant number of gold and nickel targets for follow up work.

The top three gold and top two nickel targets will be tested by a program of aircore drilling which will commence on the availability of an appropriate drill rig.

READ: Impact Minerals secures option to acquire conglomerate-hosted gold project

At the Blackridge conglomerate gold project in Queensland, bulk samples will be taken from the mineralised zone between the gold-bearing sedimentary units and the underlying basement.

Quick facts: Impact Minerals Ltd

Price: 0.009 AUD

ASX:IPT
Market: ASX
Market Cap: $11.9 m
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