Impact Minerals Steps Up Exploration Excitement
Impact Minerals has raised its exploration excitement level reporting a 48 metre thick interval of sulphide mineralisation including 23 metres at 224 g/t Ag (3.6oz/t) and 1 g/t Au at its Commonwealth (NSW) prospect. The latest result, combined with two earlier thick drill intersections (68 metres and 48 metres) on the same soil anomaly, points to an extensive epithermal system endowed with precious metals. Silver-rich zones of extensive silica alteration are typically associated with the upper parts of an epithermal system and associated with larger mid-high sulphidation systems often with “bonanza grade” gold credits. The prospect sits within the prospective Molong Volcanic Belt, which hosts the extensive Cadia Ridgeway deposit to the south. The low gold content is consistent with the type of mineralisation. Higher gold levels are recorded to the west at the historic Commonwealth workings. Drilling should become progressively more interesting as a key geological contact at the base of a rhyolite unit is tested to gain an insight into whether this area and the silica alteration zone is related to a deeper mineralising body.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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