Impact is set for on-ground exploration at Burns lookalike
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Impact can now start on-ground exploration at its Doonia gold project in Western Australia after it was awarded the exploration licence that covers the area.
Doonia is exciting given its location just 20km east from the third-party Burns copper-gold discovery – a new style of mineralisation within this part of the Eastern Goldfields – where recent drilling intersected a 38m interval grading 7.63 grams per tonne (g/t) gold.
Reprocessed regional airborne magnetic data has also identified a new large deep-seated magnetic anomaly centred directly under the Doonia project that has been interpreted as a major buried intrusion.
Impact Minerals (ASX:IPT) adds that a cluster of smaller near-surface magnetic anomalies lie above the eastern edge of the large anomaly and are interpreted as possible magnetic porphyry stocks derived from the deeper body.
Additionally, a significant untested gold-bismuth soil geochemistry anomaly up to 2.5km by 1.5km in size is centred over the near surface magnetic units.
Both Doonia and Burns were first identified in the same regional exploration program by WMC Resources in the 1990s with modest gold anomalism found in both areas in broad-spaced aircore drilling though neither was followed up at that time.
Impact identified Doonia during a review of the Eastern Goldfields for intrusion-hosted gold deposits in light of the massive Hemi discovery in the Pilbara.
It was further enhanced by the recent discovery of significant gold-copper-magnetite mineralisation hosted by a magnetic porphyry intrusion at the Burns project.
Statutory environmental approvals process for drilling has commenced and to include heritage surveys in conjunction with the Ngadju Group.
The company expects drilling to begin in the third or fourth quarters following completion of drill programs at the Apsley copper-gold (ongoing) and Broken Hill PGE-copper-nickel projects.
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.