Impact Minerals Limited (ASX:IPT) has intersected sulphide mineralisation in all six diamond drill holes completed thus far in a follow-up drill program at the Main Shaft and Silica Hill Prospects within its Commonwealth Project in New South Wales.
Notably, first assays are due by the end of August and offer the potential for a material increase in the inferred resource for the project.
At Main Shaft, four diamond drill holes have been completed to test for extensions at depth and along trend from the previously identified gold and silver-rich massive sulphide lens.
Drill core showing about 4 metres of the 6-metre-thick intercept of massive pyrite, sphalerite and galena
All four holes intersected varying widths of massive and/or semi-massive sulphide mineralisation comprising between 50% and 70% sulphides dominated by thicker layers of pyrite interlayered with up to 15% fine grained zinc sulphide (sphalerite) and up to 5% lead sulphide (galena).
In a few places there are also zones with thick layers of sphalerite with lesser galena and pyrite.
At Silica Hill, two diamond drill holes have been completed to test down dip and along-trend extensions to the previously discovered high-grade gold and silver mineralisation.
A strong mineralised zone about five metres thick was intersected from 212 metres down hole that contained up to 2% visible silver minerals.
More detailed interpretation of these drill holes from both Main Shaft and Silica Hill is in progress and will be fully assessed upon receipt of the assays.
Two further drill holes will be now completed at the Commonwealth South prospect, located 400 metres south of Main Shaft where previous drilling returned 7 metres at 25.5 g/t gold, 62 g/t silver, 3.8% zinc and 1.6% lead.