Impact Minerals Ltd (ASX:IPT) will begin follow-up drill by early December at the high-grade Silica Hill gold-silver prospect at Silica Hill, 100 kilometres north of Orange, New South Wales.
Mineralisation has been intercepted over an area of 200 x 100 metres down to a depth of 100 metres and with an average true thickness of circa 50 metres.
Impact has been notified by Squadron Resources Ltd that it will not exercise an option to earn a 19.9% interest in the Commonwealth and Broken Hill project.
Dr Mike Jones, managing director, commented: “With continued 100% ownership we can move forward with clarity and more options to maximise returns for our shareholders.”Risk Warning:
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.