Impact Minerals (ASX:IPT) has completed all six drill holes intersecting mineralisation in its phase one diamond drill program at the Commonwealth Gold-Silver Project in New South Wales.
The program was funded by Kuniko (ASX:KNI) as part of the earn-in and joint venture agreement, giving Kuniko up to 70% interest in the project.
Phase one drilling followed the completion of a MobileMTTM airborne geophysical survey and soil and rock chip geochemistry programs which led to an expansion of the exploration footprint across the project with a 4km long conductive corridor, as reported.
This latest drilling is testing down-plunge and along-strike extensions to known mineralisation as well as the priority targets identified in the survey.
Impact notes that drilling intersected ‘significant’ sulphide mineralisation in hole CMKNI004, comprising a broad 70m visual zone of disseminated and stringer sulphides and a 0.5m massive sulphide vein.
This intersection is around 100m outside the previously identified mineralisation and defines a new mineralised zone that is open up-dip, down-dip, and along strike.
Additional mineralisation was intersected in two more holes with variable widths of disseminated and stringer sulphide mineralisation, both of which are outside the existing identified mineralisation.
Managing Director Mike Jones says that the completion of phase one drilling is a “significant milestone” for the project.
“The identification of a substantial new offset sulphide zone at Silica Hill, located outside the previously modelled mineralisation, together with further sulphide intersections at Commonwealth South, highlights the potential for the system to significantly extend beyond current interpretations,” Jones says.
Assays are still pending for phase one, with results expected in early April 2026.
Impact notes that Kuniko is now positioned to advance into phase two drilling, targeting resource expansion and follow up of the newly identified mineralised zones.
Impact Minerals is a minerals explorer, with a primary focus on the high purity alumina industry and additional exploration targets in Australia.
Write to Amy Rotman at Mining.com.au
Images: Impact Minerals
