Impact Minerals Flags New Drill Targets After Geophysical Survey at Commonwealth Project

The latest update is out from Impact Minerals Limited ( (AU:IPT) ).

Impact Minerals’ joint venture partner Kuniko has reported results from a MobileMT airborne electromagnetic survey over the Commonwealth–Silica Hill gold–silver project in New South Wales, defining a coherent 4 km structural corridor linking the Commonwealth Mine, Silica Hill and nearby prospects. Three-dimensional resistivity modelling has mapped lithological and structural controls to depths beyond 1 km, highlighting multiple conductive and resistive features that are considered prospective for extensions of known mineralisation and new sulphide accumulations.

These geophysical results align with and significantly refine Impact’s existing geological model and previously reported inferred mineral resources at Commonwealth and Silica Hill. A maiden 1,200-metre diamond drilling program is set to begin shortly to test both extensions of known mineralisation and newly defined targets, with Impact retaining a 30% free-carried interest to a Decision to Mine, underscoring the potential scale and upside of the Commonwealth mineral system for the company and its stakeholders.

The most recent analyst rating on (AU:IPT) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Impact Minerals Limited stock, see the AU:IPT Stock Forecast page.

More about Impact Minerals Limited

Impact Minerals Limited is an Australian exploration company focused on gold and silver, with key activities at the Commonwealth–Silica Hill Project in New South Wales. The company advances mineral resource delineation through drilling, geophysics and geochemistry, often in joint ventures where it can retain a free-carried interest through to key development decisions.

YTD Price Performance: 13.21%

Average Trading Volume: 585,595

Technical Sentiment Signal: Sell

Current Market Cap: A$28.46M

Learn more about IPT stock on TipRanks’ Stock Analysis page.