High grade gold and exceptionally high-grade silver assays have been returned from the southern mineralised zone at Impact Minerals Limited's emerging gold-silver discovery at the Silica Hill Prospect, 100 km north of Orange in New South Wales.
|Veins of visible silver minerals (red-purple colour) from Hole CMIPT077 from 174.4 m which assayed 1.8 g/t gold and 4,200 g/t silver over 0.3 metres|
Assays from CMIPT077 have returned an intercept of 22.5 m at 1.7 g/t gold and 276 g/t silver from 166.7 metres down hole; including 0.3 m at 1.8 g/t gold and 4200 g/t (135 ounces or 0.42%) silver from 174.4 metres; also including 0.8 m at 13.6 g/t gold and 40 g/t silver from 187.7 metres.
These results confirm the southern mineralised zone to be a steeply dipping mineralised vein system that trends east-west and is open down dip and down plunge to the south east.
The good continuity of gold and very high-grade silver mineralisation from surface is confirmed from the assays in the other two diamond drill holes which were drilled up dip of CMIPT077.
These results, together with previously reported results from Holes CMIPT011 and CMIPT043 confirm the continuity of gold and silver mineralisation in the southern zone from surface to about 200 metres true depth and over a strike length of 150 metres.
The mineralisation is open down dip to the south and down plunge to the east and further drilling is required.
In addition, final assays are still awaited from CMIPT072 where visible silver minerals were observed in narrow veins at 257 metres down hole as part of an extensive zone of pyrite and lesser arsenopyrite. Assays are expected by the end of February.
Assays have also been received from one RC drill hole CMIPT078 completed at the eastern end of the northern zone of mineralisation at Silica Hill (Figure 3 and see announcement 22 September 2017).
This hole has returned a very thick intercept of 117 metres at 0.3 g/t gold and 11 g/t silver from 74 metres down hole.
This is the thickest zone of mineralisation found in the northern zone to date and also suggests that, similar to the southern zone, that lower grade mineralisation is increasing in thickness and grade at depth and to the east. This is very encouraging and further drilling is warranted.
Impact Minerals Managing Director, Dr Mike Jones said "These results are an exciting further breakthrough for us at Silica Hill as they indicate the mineralised system is getting better at depth and to the east.
"The silver grades and minerals within the vein system discovered, are exceptional and confirm the unique nature of this deposit in Australia. These are the highest assays returned so far at the project and they occur within robust zones of mineable width and grade. We are excited for the 2018 exploration programme."
Negotiations are also in progress to extend the Land Access Agreement with the land holder at the Commonwealth-Silica Hill.