Impact Minerals Returns Bonanza Silver and 27g/t Gold from Drilling at Silica Hill

Impact Minerals (ASX: IPT) has returned bonanza grades of up to 20,603 grams per tonne silver and 27g/t gold from two discovery holes the company drilled at its Silica Hill prospect as part of a broader exploration campaign at the Commonwealth gold-silver project in New South Wales.

A best intercept from one of the holes lies 100 metres outside of Silica Hill’s existing mineralised envelope and below a fault, confirming a significant expansion of the precious and base metals system which is open in all directions.

A 0.5m massive sulphide vein returned 2.1% silver (20,603 g/t) and 27g/t gold with 1.5% lead and 3.3% zinc from 230m, representing a very high-grade polymetallic intercept interpreted to be part of a feeder-style structure within the system.

This hit occurred within a broader intercept of 84m at 0.6g/t gold, and 123g/t silver with lesser lead and zinc from 226m including 3.4m at 4.1g/t gold, 2,947g/t silver, 0.3% lead, and 0.6% zinc from 227.5m, as well as 21m at 1.5g/t gold, 2.5g/t silver, 0.07% lead, and 0.14% zinc from 244m.

Infill and Step-Out Assays

The second hole was drilled as an infill and step-out hole, returning a best assay of 50m at 1g/t gold, 59g/t silver, 0.10% lead and 0.14% zinc from 74m including 17m at 113g/t silver, 0.4g/t gold, 0.11% lead and 0.14% zinc from 47m.

The results demonstrate the co-existence of very high-grade, vein-hosted mineralisation with broad zones of disseminated sulphides and support the interpretation of a large, fertile, and vertically-extensive hydrothermal system at Silica Hill.

Funded by Kuniko (ASX: KNI) under an earn-in and joint venture agreement with Impact, whereby Kuniko can earn up to 70% interest in the project, the drilling followed completion of a MobileMT airborne geophysical survey and soil and rock chip geochemistry program.

These significantly expanded Commonwealth’s exploration footprint and identified a new conductive corridor extending beyond the currently defined resource.

‘Breakthrough’ for Silica Hill

Impact managing director Dr Mike Jones said the bonanza results represented a “breakthrough” for Silica Hill and the greater Commonwealth project.

“The extremely high-grade massive sulphide gold-silver vein is similar to a lower-grade vein we previously intersected above the fault and we believe these could be feeders for the narrower high-grade veins in the system,” he said.

Kuniko has planned a larger Phase 2 drilling program at Silica Hill for mid-year, targeting extensions and potential higher-grade zones at depth.

“The more extensive parts of the Silica Hill system could well be hidden at depth and we are looking forward to [the results of] Kuniko’s follow-up drilling program.”