Gradient surveys conducted by Impact Minerals Ltd’s 100 per cent-owned Clermont gold project in the southern part of the Drummond Basin in central Queensland indicate significant exploration potential for the discovery of a major deposit.
Managing director, Michael Jones, announced on Tuesday that further exploration was warranted as a priority along the Retro Fault System after assessing the continuity of the mineralised structure over a strike length of about five kilometres.
The region is described as “a prolific epithermal gold-silver belt”, which hosts several world class gold deposits such as Pajingo, Mt Leyshon and Mt Wright.
Dr Jones said exploration at Clermont had been reinvigorated following a strategic review of the project, and targets would be drill tested shortly after the company’s drilling program at its gold-silver Commonwealth project in New South Wales.
“Negotiations with drill contractors are underway and final statutory permits awaited,” he said. “It is anticipated the program at Commonwealth will start by the end of June.”
The Impact survey established for the first time that the narrower zones of high grade mineralisation in the two key Clermont prospect areas, Retro and Retro-Extended, occurred within much thicker zones of disseminated sulphide and alteration containing anomalous silver, lead and zinc.
This suggested that the host structure was a coherent zone of considerable fluid flow and not isolated discontinuous veins.
“Further drilling should lead to the definition of a JORC compliant Inferred Resource in this area,” Dr Jones said.