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Impact Minerals chasing gold silver and base metals in central Queensland

Impact Minerals chasing gold silver and base metals in central Queensland

Tue May 15 2018

 

Impact Minerals Ltd (ASX:IPT) is nearing completion of an induced polarisation (IP) survey at its 100% owned Clermont Gold Project in central Queensland.

 

The project is in the southern part of the Drummond Basin, a prolific epithermal gold-silver belt hosting several world class multi-million-ounce gold deposits.

 

The aim of the IP survey is to identify targets to be drill tested as soon as practicable.

 

Drilling will follow the completion of the planned drilling at Impact’s 100% owned Commonwealth Gold-Silver Project in New South Wales scheduled to start by late June.

 

The IP survey at Clermont is centred over two key prospects, Retro and Retro-Extended.

 

The two prospects are at the northern end of the Retro Fault System, a 10 kilometre trend of gold-silver and base metal mineralisation.

 

Impact believes the fault system could host bulk tonnage porphyry-style mineralisation to high grade precious and base metal-rich epithermal mineralisation.

 

Historical exploration data confirms mineralisation is present

 

Previous explorers completed 27 reverse circulation (RC) holes for 1,342 metres at Retro-Extended.

 

A mineralised vein system was defined over 200 metres of strike and 75 metres depth with assay highlights featuring 8 metres at 16.1 g/t gold, 143 g/t silver, 5.6% copper and 7.8% lead from 8 metres.

 

Follow up soil and rock chip geochemistry surveys and 7 RC holes for 974 metres extended the total strike of mineralisation at Retro Extended up to 1,200 metres and to 125 metres below surface.

 

Other prospects with known mineralisation include Retro, Retro South, Retro East and Nanya.

 

Last month, Impact identified new drill targets 1.5 kilometres from the Commonwealth – Silica Hill area in the Commonwealth Project in New South Wales.

 

The targets are along the Welcome Jack Trend and will be tested as part of the upcoming drill program.

 

The upcoming program will also follow up high-grade gold and silver results recently returned from the Silica Hill Prospect.

 

Exploration in 2017 uncovered the Silica Hill gold-silver system, which continues to be an emerging discovery.

 

Notably, Impact believes the entire Commonwealth - Silica Hill – Welcome Jack Trend is part of one very large system covering at least 5 square kilometres in area.

 

Source: http://www.proactiveinvestors.com.au/