Impact Minerals Limited has intersected wide sulphide zones and vein structures extending approximately 100 vertical metres outside the current resource model during Phase 2 diamond drilling at the Commonwealth-Silica Hill Project in New South Wales.

The partner-funded drilling program has completed 1,324 metres across five holes, testing deeper ground at the South and North Lodes that has seen little previous exploration. The current program follows an initial six-hole, 1,239-metre Phase 1 campaign that delivered high-grade intercepts, including a 0.5-metre interval at 27 g/t gold and 20,603 g/t silver in hole CMKNI004.

The latest holes have returned visual intervals of disseminated and stringer sulphides, including an approximate 70-metre downhole zone in hole CMKNI010 and individual veins up to 50 centimetres thick in hole CMKNI011. While the mineralised system remains open up-dip, down-dip and laterally, the company noted that these intervals represent visual observations only, with laboratory assays still required to confirm metal grades and continuity.

"Kuniko's drilling continues to extend the Silica Hill gold and silver system, with the latest holes intersecting sulphide zones well beyond our previous model.

This indicates there is much more of the system still to define. 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."

— Dr Mike Jones, Managing Director

The exploration work is fully funded by joint venture partner Kuniko Limited under an earn-in agreement. Kuniko has already earned a 51% interest in the project and can increase its stake to 70% by spending an additional A$1.5 million. Once that threshold is reached, Impact's remaining 30% interest will be free-carried through to a decision to mine. This funding structure allows Impact to preserve its project exposure while directing its own cash resources toward its high-purity alumina strategy.

Laboratory assay results from the Phase 2 drilling are anticipated within the next four to six weeks. These results will feed directly into an updated Mineral Resource estimate for the Commonwealth-Silica Hill Project, which is targeted for delivery in December 2026.

Read the full announcement: Phase 2 Drilling Expands Mineralised System at Silica Hill