Impact Minerals Limited (ASX: IPT), an Australian mineral exploration company with a portfolio of projects, including high purity alumina and precious and base metal assets, has announced that Kuniko Limited (ASX: KNI) has successfully earned a 51% interest in its Commonwealth-Silica Hill Gold-Silver-Copper Project in New South Wales. This milestone was achieved 12 months ahead of schedule, following Kuniko’s initial expenditure of $1.5 million under their Earn-in and Joint Venture Agreement, underscoring Kuniko’s confidence in the project’s potential.
Since commencing work in September 2025, Kuniko has undertaken an aggressive exploration program. Key achievements include a Mobile MT survey, which delineated a 4-kilometre-long conductive corridor presenting multiple high-priority exploration targets. Furthermore, Phase 1 drilling delivered excellent high-grade results at Commonwealth South, notably at Silica Hill, where an intercept of 0.5 metres at 20,603 grams per tonne (g/t) silver and 27 g/t gold was recorded. Numerous other targets, such as Geenobbys and Gladstone, have also been identified with follow-up sampling. Kuniko is currently executing Phase 2 drilling, with the objective of extending the resource and upgrading the Project Mineral Resource Estimate by the end of 2026.
Impact’s Managing Director, Dr. Mike Jones, expressed gratitude for Kuniko’s collaborative efforts, highlighting the innovative exploration program and impressive drilling results. Under the joint venture, Impact retains a significant free-carried 30% interest in the project until a Decision to Mine, providing shareholders with exposure to future upside. This arrangement also allows Impact to re-focus resources on its High Purity Alumina projects, where pilot-scale studies are now commencing. Kuniko maintains the option to further increase its interest to 70% by expending an additional $1.5 million over the next two years, indicating continued investment in the project’s development and exploration.
