June 2018 Quarterly Report
Perth, Aug 1, 2018 AEST (ABN Newswire) - Impact Minerals Limited (
ASX:IPT) (IPPTF:OTCMKTS) provides the Company's June 2018 Quarterly Report.
JUNE 2018 QUARTERLY REPORT
- COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT, N.S.W. (IPT 100%)
- Follow up drilling commenced at Silica Hill and Main Shaft.
- New prospects identified at Welcome Jack.
- CLERMONT GOLD PROJECT, QUEENSLAND (IPT 100%)
- IP survey completed and drill targets identified.
- Drilling commenced and announced on July 18th 2018.
- BROKEN HILL PROJECT (IPT 100%)
- Joint venture announced on July 11th 2018.
- PILBARA GOLD (IPT 100%)
- Sale of 100% of project to Pacton Gold Inc. for $350,000 cash and 2.125 million shares in Pacton.
- BLACKRIDGE GOLD PROJECT (IPT 100% and option for 95%)
- Option to acquire 95% of 4 Mining Lease Applications and 1 Exploration Licence from Rock Solid Holdings Pty Ltd, an unrelated private company: o $ 30,000 option fee for 18 month exclusive evaluation.
o $200,000 to purchase a 95% interest in the licences.
- Impact also stakes one new adjacent 100% owned licence for a combined area of 91 sq km and together called the Blackridge Gold Project.
- Previous production >185,000 ounces of gold from basal conglomerates from surface to depths of up to 70 metres in old shafts.
- Gold nuggets panned from the basal conglomerate by Impact at surface.
- Extensive areas of poorly explored basal conglomerate at surface.
- Gold-bearing conglomerates at about 100 metres below surface and at least 2 kilometres down dip from surface.
- 23 kilometres of strike and 37 square kilometres of prospective basal conglomerate on Impact's licences.
- Previous work has potentially underestimated the nugget effect. Bulk sampling programmes required.
- Bulk sampling programmes required.
6. CORPORATE
- Cash at June 30th $3.5 million.
To view the full report, please visit:
http://abnnewswire.net/lnk/AW6080F7
About Impact Minerals Limited
Impact Minerals Limited (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
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