Impact Minerals (ASX:IPT) is progressing the Commonwealth Gold-Silver Project in the Lachlan copper-gold belt in New South Wales, with a 1,200m phase one drilling program scheduled to commence in late January 2026, subject to mobilisation timing.
The Commonwealth project is progressing under the earn-in and joint venture (JV) agreement with Kuniko Limited (ASX:KNI) as previously reported, where Kuniko has the potential to early up to 70% in the project.
Phase one drilling aims to explore high priority extensions of previously identified gold and silver, as well as to explore new geophysical and geochemical anomalies.
Speaking on the targets, Managing Director Dr Mike Jones says that “our previous work identified significant resources containing 88,000 ounces of gold and 3 million ounces of silver with very high grades in many areas and which are open at depth”.
“Commonwealth is the only project in Australia similar to the world-class Eskay Creek VMS mine in the famed Golden Triangle of British Columbia, and we are hopeful that the drill program will identify new lenses of high-grade massive sulphide,” Jones says.
“Kuniko has made rapid progress on the project, having completed a Mobile MT survey along with several soil geochemistry and rock chip sampling programs. Preliminary results, in conjunction with much of the work previously carried out by Impact, indicate a strong pipeline of areas for further exploration over the coming year.”
Following the completion of the MobileMT airborne electromagnetic program by Kuniko, further processing and modelling will be undertaken to refine drill targets.
Impact Minerals is a minerals explorer, focused on driving Australia’s growth in the high purity alumina industry.
Write to Amy Rotman at Mining.com.au
Images: Impact Minerals
