Last Updated :
08 December 2009 at 13:00 IST
Impact Minerals follow-up Gold exploration underway
SYDNEY (Commodity Online): Follow-up ground exploration work has commenced on Impact Minerals’ 100%-owned Drummond Basin gold project in Queensland.
Impact Minerals (ASX:IPT) owns exploration license in this Basin, one of Australia’s most prospective areas for significant epithermal vein and stockwork-style gold deposits and for bulk- tonnage disseminated gold and gold-copper deposits.
In a release, the company said previous work by Impact has identified more than 60 target areas in the Drummond Basin for follow-up with this work now underway on 10 of the higher priority areas.
In addition, compilation of previous exploration work has commenced on recently granted tenements at Impact’s two other gold and gold-copper projects in Queensland: the Killarney Project near Mackay and the Moly King Project near Stanthorpe.
Together, Impact’s gold and gold-copper portfolio in Queensland comprises a large ground holding of about 6,000 square kilometres.
Impact is currently assessing options to maximise shareholder value from its highly prospective gold copper assets, including a possible separate ASX-listed company spin-out in 2010.
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