Quarterly Report March 2018
1. COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT, N.S.W. (IPT 100%)
- Drill assays from Silica Hill confirm mineralisation extends over an area of 500 metres by 500 metres and to considerable depth.
- CMIPT077 returned:
22.5 m at 1.7 g/t gold and 276 g/t silver from 166.7 metres down hole;
including 0.3 m at 1.8 g/t gold and 4,200 g/t (135 ounces or 0.42%) silver also
including 0.8 m at 13.6 g/t gold and 40 g/t silver.
- CMIPT074 returned:
21.8 metres at 0.6 g/t gold and 273 g/t silver from 137.9 metres down hole
including 0.5 metres at 0.5 g/t gold and 1,485 g/t (48 ounces) silver and 0.4 m
at 1.6 g/t gold and 6,240 g/t (200 ounces or 0.62%) silver.
- CMIPT073 returned:
75.3 metres at 0.4 g/t gold and 62 g/t silver from 75 metres down hole;
including 10.8 metres at 1.4 g/t gold and 243 g/t silver and including
0.3 metres at 6.9 g/t gold and 1,485 g/t silver.
- Follow up drilling to commence on receipt of permits and completion of the Land Access Agreement, expected by end of June.
2. CLERMONT GOLD PROJECT, QUEENSLAND (IPT 100%)
- Field checking of the Retro-Retro Extended Prospects completed. Assays from rock chip grab samples collected from outcrops of quartz veins. Assays due in May.
- Large gradient array IP survey with follow up Dipole-Dipole IP survey designed to identify drill targets. IP Survey to commence by early May.
3. BROKEN HILL PROJECT (IPT 100%)
- Field checking at Copper King cobalt-copper-gold and Thorndale silverlead- zinc prospects completed. Rock chip assays due in May.
4. PILBARA GOLD (IPT 100%)
- Five Exploration Licences granted with no Native Title objections.
- Heritage Agreements in progress for two further licences prior to grant.
- Squadron Resources Pty Ltd increased its shareholding in the company to 14.8% by conversion of a $2,000,000 Convertible Note it held in Impact.
- Cash at March 31st $4.3 million
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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