Impact’s joint venture partner, Golden Cross Resources Limited will now decide if it wishes to contribute to the on – going exploration programme or dilute.

At Red Hill Impact has discovered several near surface zones of high – grade copper and platinum group el ements (PGE) together with nickel, silver and gold within a 32 metre thick zone of mineralisation. Assays from the first drill hole have defined three main zones of mineralisation within the broader zone,

1. 9.9 m at 1.4% copper, 0.3% nickel, 6.7 g/t Pt – Pd – Au and 19 g/t silver from 67 metres including 4.2 m at 2.6% copper , 0.5% nickel 10.6 g/t Pt – Pd – Au from 71.6 metres .

2. 9.5 m at 1.5% copper, 0.8% nickel, 4.7 g/t Pt – Pd – Au and 14 g/t silver from 53.7 metres including 1.9 m at 2.0% copper, 1.2% nickel, 4.7 g/t Pt – Pd – Au and 16 g/t silver from 53.7 m and also including 5.1 m at 1.9% copper, 0.9% nickel, 6.2 g/t Pt – Pd – Au and 18 g/t silver from 57. 3 metres.

3. 3.7 m at 0.4% copper, 0.7% nickel, 2.1 g/t Pt – Pd – Au and 3 g/t silver from 46 m . These three zones can be combined into one broader intercept of bulk mineable width within hole RDH001 of: 32 metres at 1% copper, 0.5% nickel , 3.9 g/t Pt+Pd+Au a nd 10.6 g/t silver from 46 m down hole .

A follow up drill hole to further test this area has commenced.

The mineralisation comprises zones of veins and breccias which contain a mixture of nickel and copper sulphide, oxide and carbonate minerals together with pyrite and pyrrhotite. In a few places the veins comprise massive sulphide up to 20 cm thick and these may have been remobilised from a larger body of massiv e sulphide at depth or along strike. Importantly, two of the zones do not appear to have any surface expression.

The veins and breccias are interpreted to dip steeply to the south and occur within metasedimentary rocks beneath a thin unit of shallow dipping ultramafic rock that forms part of the Red Hill intrusion. The true width of the mineralised zones is not yet known.

This is the first significant drill intercept of nickel and copper within Impact’s project area away f rom the high grade drill intercept of 2 m at 6.1% nickel, 4.5% copper, 10.9 g/t platinum and 23.6 g/t palladium in fresh sulphide discovered some years ago at the Platinum Springs prospect some 15 km to the north east. There are many strike kilometres of t he same ultramafic host rock that contain high grade nickel – copper – PGE rock chip assays similar to those at Platinum Springs and Red Hill that have never been drilled. These results at Red Hill confirm Impact’s belief that there is potential for a signific ant discovery near Broken Hill.