Quarterly Report December 2017
1. COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT, N.S.W. (IPT 100%)
- Drill hole CMIPT072 has intersected disseminated pyrite with silver-bearing veins in places 350 metres down dip from previous mineralisation within the Silica Hill rhyolite.
- Similar style of mineralisation to that seen close to high grade vein systems closer to surface and is encouraging for the presence of mineralisation over 500 metres down dip.
- Signficant intercepts of anomalous gold and silver received from five drill holes now interpreted to be part of the outer lower grade parts of the sytem at Silica Hill.
- Assays expected in early February for four drill holes containing visible silver minerals.
2. PILBARA GOLD PROJECT
- More than 90 kilometers of prospective Fortescue Group conglomerates identified on Impact's licence applications which cover 1,300 sq km in the East Pilbara region.
- Rock chip results of up to 11.2 g/t gold occur at the Glen Herring Prospect 10 km west of Marble Bar in a gold-pyrite conglomerate that extends for 25 kilometres.
- A single diamond hole at Shady Camp Well returned 0.9 metres at 0.6 g/t gold that has not been followed up.
- Other gold-bearing conglomerates identified on or adjacent to Impact's licences.
- The conglomerates are similar to those that occur in the Witwatersrand Basin of South Africa where the majority of the gold-bearing reefs are only 1 to 2 metres wide and easily missed.
- Impact is conducting on-ground reconnaissance exploration to ascertain access conditions and to determine the best sampling approach for gold both in nugget form as well as finely disseminated gold, both of which occur in the East Pilbara.
- Mr Eamon Hannon appointed as a Non-Executive Director.
- $3.36 million raised via oversubscribed Placements.
- Major shareholder increases stake in Impact to 12%.
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About Impact Minerals Limited
Impact Minerals Limited (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
Impact Minerals Limited