IMPACT Minerals managing director has confirmed small indications of gold and copper have been found at the Old Commonwealth Mine near Wellington, leading to belief they could be part of a larger deposit under the ground.
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Dr Mike Jones said Impact Minerals would be arriving in Wellington in the next week to drill in the area, stressing there was potential for large finds at the old mine and drilling would help find out.
Impact Minerals have relayed the information to the Australian Stock Exchange.
Dr Jones will visit Wellington in the next fortnight to see the area for himself. He said exploration may show the Impact?Minerals Limited operation near Orange maybe part of a much larrger, poorly explored mineral system. Dr Jones believes further investigation of the area may reap results.
"This new interpretation has important implications for further exploration at Commonwealth and in particular the search for the presence of buried porphyry intrusions that may host bulk tonnage copper-gold mineralisation similar to Cadia-Ridgeway.''
''This area has not been previously explored. Further field work including further mapping, soil sampling and ground geophysics will be required to identify specific drill targets within the centre of the doughnut area. However the scale of the soil anomaly is significant and it is a priority area for follow up work.''
