Impact Minerals Limited (ASX:IPT) has provided an update on the Commonwealth Gold–Silver Project in New South Wales, located in the Lachlan copper-gold belt. Impact Minerals is focused on discovering Tier 1 mineral deposits. The update comes under the Earn-In and Joint Venture Agreement with Kuniko Limited (ASX:KNI), where Kuniko can earn up to 70% in the Project.
Since announcing the farm-in, Kuniko has completed a substantial work program. This culminates in a proposed Phase-1 diamond drilling program scheduled to start in late January 2026, subject to mobilisation timing. Kuniko has completed an airborne Mobile MT survey and soil and rock chip geochemistry programs. The drill program aims to explore high-priority extensions of previously identified gold and silver resources, as well as new geophysical and geochemical anomalies.
Impact Minerals’ Managing Director, Dr Mike Jones, expressed enthusiasm for the upcoming drill program by joint venture partners, Kuniko Ltd. The company’s previous work identified significant resources containing 88,000 ounces of gold and 3 million ounces of silver with very high grades in many areas, open at depth. Kuniko has made rapid progress on the project and Impact retains a 30% free-carried interest in the project up to a Decision to Mine.
An initial approximately 1,200-metre diamond drilling program has been scheduled across the priority areas of Commonwealth Main, Silica Hill, and Commonwealth South, with drilling expected to begin in late January 2026 to early February.
