The company acquired the Dinninup project for $20,000 cash and 3 million options exercisable at 2.4 cents. Pic: Westend61 (Westend61) via Getty Images.
High Impact additions to IPT portfolio includes new battery metals project in WA
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Impact Minerals has acquired the Dinninup battery and strategic metals project in the south west of WA.
The company says the project has had no previous exploration except for bauxite, and that high-priority targets for nickel-copper-Platinum Group Elements (PGM), lithium- caesium-tantalum (LCT) pegmatites and Rare Earth Elements (REE) have been identified in a first-pass soil geochemistry survey that tested geophysical targets.
First pass follow-up field checking and sampling will commence in May, with the aim of prioritising areas for more detailed soil geochemistry and ground geophysics.
Together with the flagship Arkun and Jumbo projects, Dinninup now forms the core of Impact Minerals’ (ASX:IPT) battery and strategic metals portfolio, with the combined projects covering 2,720 sq km of the emerging mineral province of SW Western Australia.
Untapped potential for battery and strategic metals
“Our initial soil geochemistry results indicate untapped potential for a range of battery and strategic metals in this part of the state in an area where there has only been previous exploration for bauxite,” MD Dr Mike Jones said.
“The strong lithium anomalies are particularly exciting given our proximity to the world-class Greenbushes mine just 60 kilometres to the east and with similar geology.
“Together with our flagship Arkun-Jumbo project Impact has identified a significant number of areas for follow up work in the region and we are continuing to negotiate land access agreements to gain access to the priority targets.”
Strong results from Silverstar at Hopetoun
Dr Jones says the company is also encouraged by its initial drill hole at the Silverstar prospect at the Hopetoun joint venture project.
“The 25 metre thick shear zone contains significant high-temperature alteration minerals with minor sulphide and, although we were not looking for it, a narrow zone of quartz-tourmaline pegmatite with spodumene crystals,” he said.
“Following our recent announcement of spodumene-bearing veins at the Kalahari prospect the discovery of spodumene at Silverstar several kilometres away attests to the prevalence of lithium in this area.
“A second hole will commence in about a week to test the structure closer to surface.
“In the meantime the core will be logged, cut and sent for assay with results expected in early June.”
This article was developed in collaboration with Impact Minerals Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
