Impact Minerals have released some very promising preliminary exploration results for the Commonwealth project in NSW.
Rock chip surveys have turned in results of up to 18.2% copper and 58 grams per tonne for silver, out of 450 soil and rock chip samples taken.
Complete lab assay results are expected in four weeks, and drilling of the project will commence in the next quarter.
The project strike length, formerly 600 metres, has been extended to 2500 metres, with a copper-rich part of the mineralised trend identified that extends for 1500 metres of strike north-west of the Commonwealth mine.
The strike includes a line of workings associated with the dormant Coronation Mine.
A recently completed electromagnetic survey has identified near-surface weal to moderate conductors which will require drill testing.
There are numerous old workings and shafts along the strike that have not been drilled, but contain extensive copper oxide minerals, in particular malachite, azurite and copper sulphide minerals.
Samples of the weathered, mineralised sedimentary and porphyritic rocks from the workings returned assays up to 18.2 per cent, 58 grams per tonne of silver, 0.2 per cent lead, and 0.35 grams per tonne of gold.
The Commonwealth project is wholly owned by Impact Minerals Ltd.
The Commonwealth Mine, north of Orange in NSW, was discovered in 1900 and produced grades of six grams per tonne of gold and 150 grams of silver per tonne, with two per cent copper, 15 per cent zinc and 7 per cent lead.
Operations at the mine were suspended due to flooding in 1908, with no mining since, and very little exploration has taken place in the last 25 years.
Impact Minerals have recently undertaken detailed re-logging of diamond core available for the area, in order to apply a consistent geological framework to rock types and alteration in the area.