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.”
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