Impact highlights WA focus – four new JVs with nickel-copper-PGM and lithium potential
Link copied to
Impact is doubling down on its Western Australian focus by expanding its nickel-copper-PGM and lithium footprint through four joint ventures covering 1,000sqkm.
The company has the option to earn up to 80% interests in the JVs, one of which contains two fully permitted drill targets out of five drill-ready targets, with minimal cash outlay.
This continues Impact Minerals’ (ASX:IPT) corporate strategy of focusing on Australia’s largest state following IGO’s recent $18m farm-in to its Broken Hill nickel-copper-PGM project in New South Wales.
“We are extremely pleased to have secured this new ground in straightforward joint ventures with minimal cash outlay,” managing director Dr Mike Jones said.
“The projects, which we identified with private groups, all contain untested geophysical and geochemical targets that add significant value to our existing high quality portfolio of projects in emerging prospective terranes across Western Australia.
“The Hopetoun project contains two fully permitted drill targets and given the drill rig that is due to mobilise to our Doonia gold project near Kambalda is nearby, we are considering a quick test of these shortly.
“Together with Doonia this would mean we will be drilling throughout the summer months and so we are looking forward to strong news flow from now right through the first quarter of 2022.”
Hopetoun is arguably the most advanced of the four JVs given that it already hosts several targets that are just waiting for a rig to show up.
It comprises two tenements covering 75sqkm of the Albany Fraser mobile belt that is prospective for a variety of mineral deposits and just north of the town of Hopetoun and close to the Ravensthorpe mining centre.
Jumbo comprises one tenement covering 360sqkm and is adjacent to the company’s Arkun project.
It contains many of the same geological features and extensions of the same structures as those considered prospective at Arkun and is a natural addition to Impact’s large strategic ground holding in this very under-explored part of Western Australia.
Narryer comprises two tenements covering 405sqkm in the Narryer Terrane, which has become the focus of a surge in exploration for nickel-copper-PGM following the Julimar discovery as well as for rare earth elements.
Several untested magnetic and other geophysical anomalies are present at the project that require follow-up work.
Impact’s final JV project is Dalgaranga, which covers 150sqkm along the western margin of the Dalgaranga greenstone belt that hosts the dormant Western Queen gold open pits and the dormant Dalgaranga tantalum mine.
It is prospective for nickel-copper-PGMs and pegmatite dykes while Rio Tinto recently pegged the eastern side of the same greenstone belt.
This article was developed in collaboration with Impact Minerals, 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.