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Impact options 95% stake in gold project, applies for license in Queensland

Impact Minerals Ltd. has secured an option to purchase 95% of an advanced conglomerate-hosted gold project from Rock Solid Holdings Pty. Ltd., located close to its Clermont epithermal gold project in central Queensland, Australia.

Additionally, the company has applied for an adjacent exploration license. The project and exploration license will together be called the Blackridge gold project.

Impact can acquire the 95% stake for a total of A$230,000, according to the May 29 release. The company plans to conduct detailed mapping and bulk sampling at the Blackridge gold field following review of previous exploration data.

Impact recently agreed to sell its gold project in the Pilbara to Pacton Gold Inc. for C$350,000 cash and 2,125,000 shares, currently valued at A$1.7 million.