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Impact Minerals Limited (IPPTF) Drilling Underway at Clermont Gold Project, Queensland
Perth, Australia (ABN Newswire) - Impact Minerals Limited (ASX:IPT) (OTCMKTS:IPPTF) announces...
About this update from Lux Metals Corp
[{"type":"text","content":"Impact Minerals Limited (IPPTF) Drilling Underway at Clermont Gold Project, Queensland\nPerth, Australia (ABN Newswire) - Impact Minerals Limited (ASX:IPT) (OTCMKTS:IPPTF) announces drill testing of five target areas identified in geophysical and geochemical data is underway at Impact Minerals Limited's 100% owned Clermont gold project located in the southern part of the Drummond Basin in Central Queensland; a prolific epithermal gold-silver belt which hosts several world class gold deposits such as Pajingo (Vera-Nancy) (>5 Moz), Mt Leyshon (>3 Moz) and Mt Wright (>1 Moz) (see Figure 1 in link below). - RC Drill programme testing 5 target areas. - Targets highlighted by exceptional IP survey results that identify a quartz vein system extending for at least 6,000 metres. - Clarification to the terms of the recently announced Broken Hill Joint Venture The project lies 30 km south of the town of Clermont and about 50 km south of the recently acquired Blackridge conglomerate-hosted gold project (see Figure 1 in link below and see announcement May 29 2018). A recently completed gradient array Induced Polarisation (IP) survey has identified multiple coherent northeast trending linear resistivity anomalies that coincide in part with numerous outcrops of gold-bearing quartz veins. The resistivity data suggests that the quartz veins extend over a strike length of at least 6,000 metres (see Figure 2 in link below). A total of 98 rock chip samples taken from variably gossanous quartz veins over the 6,000 metres of strike returned assays of up to 8.1 g/t gold (see Figure 2 in link below) with 35 samples returning assays of more than 0.1 g/t gold and 10 returning assays greater than 1 g/t gold. A review of an MMI soil geochemistry survey completed by Impact in 2012 showed that the linear resistivity anomalies are concident with elevated gold, silver and lead in soil values as well as elevated copper to the north and zinc to the east. The IP data together with the soil and rock chip geochemistry data have been used together with previous drilling data where appropriate to identify five priority areas for drilling. 1. Retro X: This target is a strong, linear 1.6 km long resistivity anomaly that trends north northeast and is coincident with highly elevated gold-silver-copper and lead-in-soil anomalies. Outcrops of gossanous quartz vein...