Impact Minerals expands drilling at Silica Hill Project

• Impact Minerals partner Kuniko funded a Phase 2 drilling programme targeting gold and silver at the Silica Hill Project in New South Wales.
• Following the announcement, the Impact Minerals share price was unchanged at $0.030.
• The programme aims to expand the mineralised zone and update the project resource estimate by December.

Impact Minerals (ASX:IPT), along with its partner Kuniko (ASX:KNI), has extended gold and silver mineralisation across roughly 100 vertical metres at its Silica Hill Project in New South Wales.

The Phase 2 programme builds on initial campaign results that returned 0.5m at 27 grammes per tonne of gold and 20,603 grammes per tonne silver.

The Phase 2 campaign has drilled 1,324m across five holes to test deeper targets along the South and North Lodes.

Impact Minerals’ Managing Director, Dr Mike Jones, said, "Earlier assays showed it can carry very high grades of gold and silver, so the priority now is to confirm the grades and continuity of these new zones, which remain visual observations until the laboratory results are in."

Kuniko can increase its project stake from 51% to 70% by spending an additional $1.5 million on exploration.

Following the announcement the Impact Minerals share price was unchanged at $0.030.

Impact Minerals retains a 49% project interest while directing internal capital towards its high-purity alumina development strategy.

Assay results from the current drilling are scheduled for release within the next four to six weeks.