Impact Minerals Limited: Massive Sulphide Mineralisation Intersected at Commonwealth

Perth - Varying widths of sulphide mineralisation have been intersected in all six diamond drill holes completed thus far in a follow up drill programme at the Main Shaft and Silica Hill Prospects within Impact Minerals Ltd.'s (ASX:IPT) (OTCMKTS:IPPTF) 100% owned Commonwealth Project 100 km north of Orange in New South Wales. First assays are due by the end of August and offer the potential for a material increase in the Inferred Resource for the project (see Compliance Statement at end of this report for details).

At Main Shaft four diamond drill holes have been completed to test for extensions at depth and along trend from the previously identified gold and silver-rich massive sulphide lens(see link below).

All four holes intersected varying widths of massive and/or semi-massive sulphide mineralisation comprising between 50% and 70% sulphides dominated by thicker layers of pyrite interlayered with up to 15% fine grained zinc sulphide (sphalerite) and up to 5% lead sulphide (galena). In a few places there are also zones with thick layers of sphalerite with lesser galena and pyrite. These are described in detail below with drill hole locations shown in Figure 4 (see link below) and other details given in the table at the end of this report(see link below).

Hole CMIPT084 was drilled 15 metres north of the massive sulphide lens1 and intersected six metres true width of massive sulphide from 52.1 metres down hole (see Figure 1 and 4 in link below). Figure 2 (see link below) shows the pyriterich and sphalerite-rich styles of mineralisation for comparison.

Hole CMIPT082 was drilled 20 metres down dip from previous high grade drill intercepts(see link below) and intersected two metres true width of semi-massive sulphide with a 50 cm thick band of sphaleritedominant massive sulphide from 96.8 metres down hole.

Hole CMIPT083 was drilled 20 metres along trend from Hole 082 and intersected four metres true width of semi-massive sulphide from 96.8 metres down hole. The sulphide unit also contains up to 3% copper sulphide (chalcopyrite) in places.

Importantly, this intercept indicates the massive sulphide mineralisation at Main Shaft is open at depth down plunge to the south (see Figure 4 in link below).

In addition a 20 metre thick zone of alteration and patchy sulphide mineralisation was intersected from 140 metres down hole including a narrow zone of brecciated massive sphalerite mineralisation with up to 3% chalcopyrite from 140 m down hole (see Figure 3 in link below). This suggests the potential for a further massive sulphide lens deeper in the volcanic sequence which is untested in many places.

Hole CMIPT085 was drilled to about 40 metres below surface in an area of little drilling about 70 metres along trend to the south of the massive sulphide lens at Main Shaft (see Figure 4 in link below). This hole intersected 1.5 metres true width of brecciated massive pyrite with sphalerite, galena and minor chalcopyrite in places. This is the first indication of massive sulphide in this area and is encouraging.

At Silica Hill two diamond drill holes have been completed to test down dip and along-trend extensions to the previously discovered high grade gold and silver mineralisation(see link below).

Hole CMIPT081 was drilled 65 metres along trend from previous high grade drill intercepts. (see link below) and intersected an eight metre thick true width zone of disseminated and wispy bands of up to 20% pyrite in places from 202 metres down hole. A stronger mineralised zone about five metres thick was intersected from 212 metres down hole that contained up to 2% visible silver minerals.

Hole CMIPT080 was drilled 125 metres along trend from Hole 081 and intersected a 24 metre thick true width zone of patchy to pervasive silica-sericite-sulphide alteration with disseminated and narrow veins of pyrite with trace pathfinder metals arsenic, zinc and lead from 317 metres down hole. This includes a 0.5 metre thick quartz sulphide vein with extensive visible silver minerals at 317.5 metres down hole.

Both of these holes demonstrate a continuation of the Silica Hill mineralised system for at least 200 metres along trend, although it is much narrower in Hole 080 than previous drill holes along the southern trend of mineralisation (see Figure 4 in link below). The mineralisation at Silica Hill is still open in all directions and further deeper drilling is required.

More detailed interpretation of these drill holes from both Main Shaft and Silica Hill is in progress and will be fully assessed upon receipt of the assays.

Two further drill holes will be now completed at the Commonwealth South prospect, located 400 metres south of Main Shaft where previous drilling returned an intercept of 7 metres at 25.5 g/t gold, 62 g/t silver, 3.8% zinc and 1.6% lead inHole CMIPT017(see link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/60HW3756

About Impact Minerals Limited:

Impact Minerals Ltd. (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.

Source: Impact Minerals Ltd.



Contact:

Dr Michael G Jones Managing Director
Impact Minerals Ltd.
T: +61-8-6454-6666
E: info@impactminerals.com.au