Impact Minerals Ltd Annual Report 2022 29 Figure 7.4: Maps showing the down hole traces of drill holes showing metal assemblages for copper-gold (Cu-Au core) and molybdenum-tungsten-tin (Mo-W-Sn upper phyllic zone) at Apsley. Three target areas for follow up work have been identified (T1, T2 and T3). At Apsley, metal assemblages typical of the core (Cu-Au) and the so-called upper phyllic zone (W, Sn, Bi) which lies directly above the core of many porphyry copper-gold deposits, can be readily identified in the drilling data and help define the areas for follow up work. Follow up area T1, is a zone of overlap between the core assemblage and the upper phyllic zone assemblage in the north west of the halo. Area T2 is a large zone defined mainly by the upper phyllic zone and strong alteration present in Hole APIPT001 in the centre of the halo. Area T3 may represent a target at depth in the south east corner of the halo (Figure 7.4). However, the widespread nature of the drilling and also the low levels of copper and in particular gold reported are insufficient at this stage to provide more definitive vectors to ore. This interpretation of the zonation at Apsley is based on a widely used model for the levels of metals present around porphyry copper-gold deposits NEXT STEPS The Apsley target was drilled because of the strong combined geophysical and geochemical anomalies. The results, whilst very encouraging are not as definitive as required for immediate follow up drilling. Further drilling is required, possibly to some depth, in several areas. However, further studies on the nature and composition of the alteration minerals are required first in order to determine further vectors to ore. During the year Impact received several unsolicited approaches to evaluate the Commonwealth project. In August 2022 Impact reached an agreement to sell a 75% interest in the project to unrelated company Burrendong Resources Pty Ltd. Burrendong is aiming to conduct an IPO in 2023. Review of Operations continued
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