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Kuniko Earns 51% Stake in Impact's NSW Gold-Silver Project
Kuniko spent $1.5m to take a 51% stake in Impact Minerals' NSW gold-silver-copper project 12 months ahead of schedule. Phase 2 drilling is under way.
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Impact Minerals (ASX: IPT) has kept a sizeable position in its Commonwealth–Silica Hill gold-silver-copper project in New South Wales after joint venture partner Kuniko (ASX: KNI) spent its way to a 51% interest.
Kuniko reached the first earn-in milestone a full year ahead of schedule. It spent $1.5 million across the project since starting work in September 2025, funding geophysical surveys, surface geochemistry and drilling across the Commonwealth Main, Commonwealth South and Silica Hill deposits.
The next stage lets Kuniko push its stake to 70% by spending another $1.5m over two years. After that, Impact keeps its remaining 30% free-carried through to a Decision to Mine. At that point, Impact can either pay its pro-rata share of project costs or let its interest dilute to 10% in exchange for a 2% net smelter return royalty.
For Impact, the structure keeps exposure to exploration upside at Commonwealth while the company directs its own capital toward its High Purity Alumina projects, where pilot-scale studies are starting.
“We would like to thank Kuniko for being an excellent collaborative partner in the Commonwealth project,” managing director Dr Mike Jones said in a statement. “They have undertaken an aggressive exploration program that delivered excellent results, including an outstanding intercept of 0.5 metres at 27 g/t gold and 2% silver at Silica Hill, [and are] now undertaking Phase 2 drilling–we are looking forward to the results over the coming weeks.”
Jones added: “The Commonwealth joint venture allows Impact to retain a significant interest in the project, thereby providing Impact’s shareholders with significant exposure to any future upside from Kuniko’s work.”