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Impact Minerals grows resource at Commonwealth gold-silver-base metals project

Impact Minerals Ltd. estimated a maiden resource for the Silica Hill prospect, part of its Commonwealth gold-silver-zinc-lead-copper project in New South Wales, Australia.

The deposit hosts 710,000 tonnes at 0.8 g/t gold and 88 g/t silver at a cutoff of 50 g/t silver based on drilling results from 32 holes that encountered mineralization, according to an Aug. 22 release.

The total inferred resource for the Commonwealth project now stands at 912,000 tonnes at 2.4 g/t gold containing 70,800 gold ounces and 44 g/t silver containing 1.3 million silver ounces at a cutoff of 0.5 g/t gold.

The resource also contains 1.2% zinc, 0.5% lead and 0.08% copper.

The high-grade massive sulfide lens at the Main Shaft hosts 142,000 tonnes at 4.5 g/t gold, 161 g/t silver, 4.6% zinc and 1.7% lead.

The company said drilling is required at Commonwealth, and it is assessing options for further funding.

Impact is focused on its Blackridge gold project in Queensland, Australia, which has potential for near-term gold production.