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Impact Minerals Limited ( (AU:IPT) ) has provided an update.
Impact Minerals has reported high-grade gold, silver, zinc, lead and copper assays from the first two holes of a six-hole diamond drilling program at its Commonwealth Gold–Silver Project in New South Wales, funded by Kuniko under an earn-in joint venture. The results confirm that the existing massive sulphide resource remains open at depth and along trend, and support plans for a larger Phase II drilling campaign aimed at expanding resources.
The current drilling builds on geophysical and geochemical work that outlined a four-kilometre conductive corridor and follows previously defined shallow inferred resources of 88,800 ounces of gold and 3.3 million ounces of silver with significant base metal credits. With geological similarities to Canada’s Eskay Creek deposit and a structure that leaves Impact with a 30% free-carried interest and royalty option, the program could materially enhance the project’s scale and value leverage for Impact and its shareholders if further drilling is successful.
More about Impact Minerals Limited
Impact Minerals Limited is an Australian exploration company focused on gold, silver and associated base metals, with key assets including the Commonwealth and Silica Hill projects in New South Wales. The company targets high-grade, shallow volcanogenic massive sulphide and related systems, positioning itself to benefit from growing demand for precious and critical metals through joint venture-funded drilling and resource expansion.
YTD Price Performance: -7.55%
Average Trading Volume: 602,651
Technical Sentiment Signal: Sell
Current Market Cap: A$25.21M
See more data about IPT stock on TipRanks’ Stock Analysis page.