Impact Minerals (ASX:IPT) advances phase 2 drilling at Commonwealth–Silica Hill Project

Impact Minerals (ASX:IPT) is set to advance its Commonwealth–Silica Hill Gold–Silver Project in central New South Wales, with Phase 2 diamond drilling scheduled to commence in early July 2026.

The program builds directly on the successful Phase 1 campaign by joint venture partner Kuniko Limited (ASX:KNI), which confirmed multiple high-grade mineralised zones and identified a significant new discovery at Silica Hill, providing a clear basis for follow-up exploration and resource expansion.

Highlights

• Phase 2 drilling to start early July 2026, targeting Silica Hill, Commonwealth Main Shaft, and Commonwealth South
• Phase 1 drilling achieved a 100% success rate, intersecting multiple high-grade zones and a new discovery at Silica Hill
• Initial Phase 2 program comprises six diamond drill holes for approximately 1,340m, with scope to scale materially
• Resource Potentials engaged to integrate historical geophysical and geochemical datasets and define additional high-priority drill targets
• Project Mineral Resource Estimate upgrade targeted for H2 2026

Phase 1 drilling intersected mineralisation in all six drill holes, confirming extensions at Commonwealth Main Shaft, Commonwealth South, and Silica Hill.

A notable new mineralised zone at Silica Hill was discovered approximately 100 metres beyond the existing footprint and remains open up-dip, down-dip, and along strike.

Highlights include CMKNI004 at Silica Hill: 84m at 2.6 g/t goldEq from 226m, including 3.4m at 50 g/t goldEq and a 0.5m bonanza-grade massive sulphide vein returning 347 g/t goldEq, 27 g/t gold, and 20,603 g/t silver, while at Commonwealth South, CMKNI006 intersected 7.1m at 9.7 g/t goldEq, including 3.1m at 21.6 g/t goldEq.

Impact Minerals Managing Director Maja McGuire said:

“The Phase 1 drilling program exceeded expectations, with mineralisation intersected in all six drill holes and delivering new priority high-grade targets, including a significant new discovery at Silica Hill. Phase 2 drilling is designed to capitalise on this success, with priority drilling targeting significant step-out extensions to mineralisation at Commonwealth Main Shaft, Commonwealth South and the newly discovered zone at Silica Hill. With Titeline Drilling secured and drilling scheduled to commence in early July, we are excited to continue unlocking the value of our highly prospective gold-silver project,”

Phase 2 drilling will focus on step-out extensions and deeper high-grade zones across all three priority areas, with Silica Hill drilling testing lateral and vertical continuity beyond the current footprint and evaluating deeper extensions of the high-grade gold zone.

Commonwealth Main Shaft drilling will target down-plunge and down-dip extensions to polymetallic massive sulphides beneath existing holes, while Commonwealth South will test down-plunge extensions to a recently confirmed high-grade gold shoot.

Resource Potentials is concurrently undertaking a regional review to refine existing targets and define additional high-priority drill sites across the broader Project area using historical geophysical and geochemical datasets.

The Commonwealth–Silica Hill Project lies approximately 100 km north of Orange, NSW, within the Lachlan Fold Belt, a Tier-1 mining province hosting major operations such as Cadia–Ridgeway, Northparkes, and Cowal.

The Project includes two genetically related deposits located within 200 metres of each other: Commonwealth Main/South, a polymetallic VMS-style system, and Silica Hill, an epithermal stockwork vein system.

Both deposits contain high-grade gold, silver, and base metal mineralisation, with multiple untested targets including Silica Hill East, Geenobbys, and Gladstone.

Phase 2 drilling, in combination with ongoing targeting and assay results, will support an updated Mineral Resource Estimate scheduled for H2 2026.

The program is expected to further define the scale and continuity of the mineral system, providing a structured pathway for additional discovery and growth across the Commonwealth–Silica Hill Project.

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