- 01Kuniko extends Phase 2 to 1,324m.
- 02100m vertical extension around Phase 1.
- 03Assays in 4-6 weeks; Dec 2026 update.
- 04Impact 49%, Kuniko 51%; could lift to 70%.
Impact Minerals (ASX: IPT) has reported that partner-funded drilling continues to extend mineralisation beyond the current resource model at the Commonwealth–Silica Hill project in New South Wales, in which Impact holds a 49% interest.
Kuniko Limited (ASX: KNI) has advanced the Phase 2 program to 1,324 metres across five holes, with drilling outlining about 100m of vertical geological continuity around a high-grade Phase 1 intersection and testing deeper extensions of the interpreted system.
Laboratory assays from the current drilling are expected within four to six weeks, and will feed into an updated mineral resource estimate targeted for December 2026.
Impact retains its project interest after Kuniko earned 51% by funding exploration, leaving Impact exposed to further exploration success while preserving its own capital for its high-purity alumina strategy.
Expanded Silica Hill Footprint
The latest work has continued to expand the interpreted Silica Hill system outside the existing mineralised block model, with drilling now supporting distinct Northern and Southern Lodes that remain open for further testing.
A recent hole intersected an approximately 70m downhole zone of disseminated sulphides and sulphide-bearing veining within altered rhyolite, while another encountered multiple visually prominent sulphide veins as drilling moved to test the Northern Lode at depth.
The program builds on Phase 1 drilling that returned a narrow 0.5m massive sulphide vein grading 27 grams per tonne gold and 20,603g/t silver at Silica Hill, within a broader zone of variably mineralised rock.
“The emerging two-lode model provides a clear framework for the next round of drilling and the planned resource update, and it is good to see Kuniko testing both the known extensions and the broader potential,” managing director Dr Mike Jones said.
“This partnership allows Commonwealth to advance at Kuniko's cost while Impact retains a substantial interest in any success and keeps its own resources focused on our high-purity alumina strategy."
Project Partner Funding
Kuniko earned its initial 51% project interest after completing $1.5 million of exploration expenditure about 12 months ahead of the contractual deadline, with Impact retaining the balance.
The partner can lift its interest to 70% by spending a further $1.5m on exploration within another two years, after which Impact’s remaining 30% interest would be free-carried through to a decision to mine.
That structure gives Impact ongoing exposure to drilling, resource growth and potential development at Commonwealth–Silica Hill without requiring it to fund the current exploration program, while its own resources remain directed towards high-purity alumina.
Drilling is continuing to test the depth and lateral extent of both interpreted lodes at Silica Hill, alongside regional target assessment across the broader project area.
The near-term focus for Impact is the pending Phase 2 assays and the planned December MRE, which will incorporate results from both phases and determine whether the newly defined sulphide zones translate into additional resource growth.
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