(MENAFN- ABN Newswire)
Half Yearly Report Perth, Mar 12, 2018 AEST (ABN Newswire) - Your directors of Impact Minerals Limited ( 500,000 oz gold). The tenements are likely to be granted in Q2 2018.
More than 90 kilometers of prospective Fortescue Group conglomerates have been identified on Impact's licence applications. The conglomerates are similar to those that occur in the Witwatersrand Basin of South Africa where the majority of the gold-bearing reefs are only 1 to 2 metres wide and easily missed.
Rock chip results of up to 11.2 g/t gold occur at the Glen Herring Prospect 10 km west of Marble Bar in a gold-pyrite conglomerate that extends for 25 kilometres. A single diamond hole at Shady Camp Well returned 0.9 metres at 0.6 g/t gold that has not been followed up. Other gold-bearing conglomerates have been identified on or adjacent to Impact's licences.
Impact is conducting on-ground reconnaissance exploration to ascertain access conditions and to determine the best sampling approach for gold both in nugget form as well as finely disseminated gold, both of which occur in the East Pilbara.
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About Impact Minerals Limited
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. 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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