Silica Hill Project - Gold and SilverSydney, May 19, 2017 AEST (ABN Newswire) - Impact Minerals Ltd (ASX:IPT) Managing Director Dr. Mike Jones is interviewed by Tim Mckinnon at ABN Newswire Sydney regarding the recent gold and silver results from drilling at Silica Hill near Orange in New South Wales, Australia.
Silica Hill is the focus property of the three primary assets the company controls, and a Share Purchase Plan is currently underway to raise AU$4M to further develop the resource base at Silica Hill.
Grades of over 3,000 g/t Silver have been shown in the vein system at Silica Hill on the edge of the mineralized system. Further drilling is expected to locate higher grades of both gold and silver and the capital raising will be used to extend the resources accordingly.
Eligible Shareholders will be able to purchase parcels of new fully paid ordinary shares valued at $1,000, $3,000, $5,000, $10,000 or $15,000 at an issue price of 1.8 cents per share, without incurring brokerage or transaction costs. The SPP Offer is intended to raise up to approximately $4.0 Million. Eligible shareholders will also be offered three free attaching options exercisable at $0.04 with an expiry date of 15 June 2020 for every two New Shares subscribed for.
Impact has a large landholding of over 2,000 square kilometres, with a plan to develop the numerous mineralized zones within the area.
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About Impact Minerals Limited
Impact Minerals Limited (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
Impact Minerals Limited