Impact Minerals nabs heritage clearance for Lake Hope high purity alumina deposit

Impact Minerals has hit a significant milestone in its journey to producing High Purity Alumina (HPA), securing heritage clearances across its entire Lake Hope deposit in WA.

The company completed a heritage survey with the Ngadju Native Title group in compliance with the new Aboriginal Cultural Heritage Act, which came into force on 01 July this year.

The work area was assessed as having no Aboriginal artefacts or cultural heritage concerns, which ground- disturbing activities would impact.

Under the new Aboriginal Cultural Heritage Act the survey provides evidence that pending lodgement of a mining lease and negotiating a mining agreement with the Ngadju Native Title holders, ground-disturbing activities carried out within the survey area, including the proposed shallow open pit, are exempt from additional Tier 2 or Tier 3 management plans.

The survey has now provided clearance for ground-disturbing activities over the entire Lake Hope deposit and nearby access tracks.

The clearance also significantly de-risks the project and is a critical component of the work required to lodge a mining lease application, planned for later this quarter.

On the path to HPA production

Impact Minerals (ASX:IPT) will conduct further consultation and surveys for any additional work areas required to develop the project and aims to develop the Lake Hope alumina project collaboratively and respectfully with all traditional owners and native title parties.

“Impact Minerals acknowledges and would like to thank the Ngadju Native Title Holders and elder’s past, present and emerging, for organising and participating in the survey, and we look forward to continuing to work effectively with them in the future,” MD Dr Mike Jones said.

“This positive outcome represents another step forward on the pathway to the production of high purity alumina, which presents a compelling opportunity for Impact Minerals’ shareholders and the broader community of the Ngadju native title holders.

“The heritage clearance, together with our recently announced maiden indicated and inferred resource of 880,000 tonnes of contained alumina, has significantly de-risked the mining aspect of the project and will allow us to progress with our mining lease application later this quarter confidently”.

Notably, Lake Hope is one of five exploration licences in WA owned by Playa One Pty, in which Impact has the right to earn an 80% interest.

Scoping study and PFS underway

With the receipt of heritage clearance, the company will now lodge its program of work applications for bulk sample test pitting, geotechnical drilling, water monitoring bore drilling and other works associated with the Pre-Feasibility Study (PFS) currently in progress.

Metallurgical test work, a critical part of the PFS work, is also well underway, with initial results due towards the end of 2023.

In addition, a scoping study is nearing completion, based on the maiden mineral resource estimate of 3.5 million tonnes at 25.1% alumina (Al2O3) for a contained 880,000 tonnes of alumina.

Notably, about 88% of the resource, or about 775,000 tonnes of alumina, is in the higher confidence indicated Resource category – and current benchmark prices for 4N (99.99%) High Purity Alumina, a processed form of alumina, are about US$20,000 per tonne.

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.