Follow up review and synthesis of exploration data is in progress at five recently identified priority prospects for large porphyry copper-gold deposits at Impact Minerals Limited's (ASX: IPT) 100% owned Commonwealth project in the prolific copper-gold rich Lachlan Fold Belt in New South Wales.

The prospects were identified from reconnaissance field checking, new rock chip assays and interpretation of regional magnetic data (ASX Release January 14th 2020). This work was prompted by the recent discovery of significant porphyry copper-gold mineralisation at Boda by Alkane Resources Limited (Alkane) and where follow up drilling is in progress.

At Boda, which lies immediately along trend from Impact's Boda South target, a significant intercept of 502 m at 0.48 g/t gold and 0.20% copper was returned which included a higher grade 'core' of 108 metres at 1.06 g/t gold and 0.41% copper.

Alkane's announcement reveals the gold-copper mineralisation and related alteration minerals are strongly zoned adjacent to, and within, the parent porphyry intrusion, called the Boda Intrusive Complex (BIC), and in addition, the high grade gold copper zone contains magnetite (in skarn-related alteration) that can be identified in regional magnetic data. The entire porphyry-mineralisation complex is about 500 metres wide.

Contact:

Tel: (61 8) 6454 6666

Email: info@impactminerals.com.au

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