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Impact Minerals Limited
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Bonanza Silver Grades at Silica Hill

Publié le 02 septembre 2016

ASX ANNOUNCEMENT Date: 2 September 2016 Number: 483/020916

BONANZA SILVER GRADES AT SILICA HILL

Diamond drill core from Hole CMIPT011 showing semi-massive sulphide from a 0.9 metre thick zone that has returned 3,146 g/t or 101 ounces of silver and 2.4 g/t gold.

SUMMARY

In addition it is evident that there is a large silver "halo" of up to 10 to15 g/t silver in the Silica Hill rhyolite which extends further outwards over many hundreds of square metres (Figure 1). It is possible that this may be a "leakage halo" from depth and accordingly the down-dip extension of the mineralisation in Holes 043 and 011 is a compelling drill target.

0.9 m at 3,146 g/t Ag, 2.4 g/t Au g/t

48 m at 0.5 g/t Au,137 g/t Ag

Figure 2. Surface geology map showing significant drill intercepts at Silica Hill and Main Shaft.

Next Steps

The drill rig has been moved to Welcome Jack to test an Induced Polarisation geophysical anomaly. This has allowed down hole EM surveys to be completed at Silica Hill and the Commonwealth deposit.

All data from Silica Hill and the other prospects tested in this drill programme is now being compiled to prioritise follow up drilling.

Investment by Squadron Resources Pty Limited

The Commonwealth gold-silver-zinc-lead project and also Impact's Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact Minerals and Squadron Resources Pty Ltd, part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest (see announcement 17 July 2015).

As part of the investment agreement Squadron can at its sole discretion, invest a further A$1 million into either or both of the projects to earn a 19.9% interest after Impact has spent a combined total of $2.5 million on them from a total of $3 million of exploration funds provided.

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