- Impact Minerals (IPT) has confirmed new targets at two prospects within its Commonwealth Project in the Lachlan Fold Belt of News South Wales
- The company identified five priority areas to follow up off the back of Alkane Resources’ major porphyry copper-gold discovery nearby at Boda-Kaiser
- Rock chip sampling of veining at the Greenobbys prospect returned 9.5 grams per tonne of gold and 215 grams per tonne of silver
- At the Boda South prospect, samples returned elevated levels of copper, silver and bismuth
- An airborne magnetic and radiometric survey has been completed over all five priority prospects and a soil geochemical survey is underway at the Apsley prospect
- This data will inform further works at the project including a drilling program expected for later this year
- Impact Mineral’s share price rose on the back of the news yesterday, today it’s up another 7.7 per cent to 1.4 cents per share
Impact Minerals (IPT) has confirmed new targets at two prospects within its Commonwealth Project in New South Wales’ Lachlan Fold Belt.
The company identified five priority areas to follow up off the back of Alkane Resources’ major porphyry copper-gold discovery nearby at Boda-Kaiser.
Impact Minerals took 27 rock chip samples at both the Greenobbys and Boda South prospects. At Greenobbys, samples returned grades of 9.5 grams per tonne of gold and 215 grams per tonne of silver.
At the Boda South prospect, samples returned up to 0.1 per cent copper, two grams per tonne of silver and 40 parts per million bismuth.
An airborne magnetic and radiometric survey has also been completed over all five priority prospects. A soil geochemical survey is also underway at the Apsley prospect which is currently ranked as the most prospective.
This data will inform further works including a drilling program at the project later this year, as Impact Minerals Managing Director Dr Mike Jones explained.
“Our reconnaissance rock chip assays across four of our priority targets have exceeded our expectations as they have all returned encouraging results that require follow up exploration,” Mike stated.
“This has further confirmed and enhanced our belief that our extensive ground holdings in the prolific Lachlan Fold Belt have the potential to host not only a major porphyry copper-gold deposit, but also other possible styles of intrusion-related mineral deposits such as the newly recognised epithermal gold-silver mineralisation at Greenobbys,” he continued.
“Incredibly none of these prospects has been drilled and we will be doing the necessary work to get them to drill-ready status as rapidly as we can,” the Managing Director concluded.
Impact Mineral’s share price rose 8.33 per cent following the news yesterday to close at 1.3 cents per share. Today, company shares are trading another 7.7 per cent higher for 1.4 cents per share at 12:10 pm AEST.