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Impact Minerals Limited ( (AU:IPT) ) has issued an update.
Impact Minerals has reported exceptionally high-grade assay results from the Silica Hill prospect, part of its Commonwealth Gold–Silver Project in New South Wales, under a joint venture with Kuniko Limited. The latest diamond drilling, particularly discovery hole CMKNI004, intersected bonanza-grade silver and gold veins outside the existing mineralised envelope, significantly extending the known system.
Key intercepts from CMKNI004 include a 0.5-metre massive sulphide vein grading 2.1% silver, equivalent to 20,603 g/t, and 27 g/t gold, within a broader 84-metre zone of gold-silver mineralisation that also carries lead and zinc. A separate high-grade gold zone up-hole and strong results from CMKNI003, which delivered broad intervals of combined gold and silver, underline the presence of both vein-hosted high-grade mineralisation and wide disseminated sulphide zones.
These results support the interpretation of a large, fertile and vertically extensive hydrothermal system at Silica Hill that remains open at depth and along strike, indicating substantial potential for resource growth. For Impact and its JV partner Kuniko, the discovery of mineralisation beyond the current modelled envelope enhances the project’s exploration upside and could strengthen their position in the gold-silver and polymetallic exploration space as further assays from remaining holes are awaited.
More about Impact Minerals Limited
Impact Minerals Limited is an Australian exploration company focused on precious and base metals, with a key emphasis on gold and silver projects. Its Commonwealth Gold–Silver Project in New South Wales is being advanced through an earn-in and joint venture agreement with Kuniko Limited, which can acquire up to a 70% interest, positioning the asset within a broader polymetallic exploration strategy.
YTD Price Performance: -13.21%
Average Trading Volume: 588,103
Technical Sentiment Signal: Sell
Current Market Cap: A$23.66M
See more data about IPT stock on TipRanks’ Stock Analysis page.