Impact has good reason to feel excited after soil geochemistry work identified a large 10km by 2km rare earth elements anomaly in the northeast of its Arkun project in southwest Western Australia.

The new Horseshoe prospect occurs in the contact zone of an intrusion adjacent to a major regional fault, which is a prime location for REEs, and is host to both high value heavy REEs and light REEs.

And this might be the first step in the establishment of Arkun as a significant REE project within an emerging REE province with Impact Minerals (ASX:IPT) carrying out further surveys to follow-up on numerous other anomalies identified in reconnaissance roadside soil geochemistry surveys.

The company also has not forgotten the project’s nickel-copper-PGM and lithium potential with interpretation of soil geochemistry, electromagnetic and detailed ground penetrating radar data still underway.

“The new and exciting Horseshoe Prospect is in a prime location for REE being associated with the contact zone of an intrusion adjacent to a major fault zone,” managing director Dr Mike Jones.

“In addition, the area is also very weathered, so there is also the potential for REE ionic clay deposits. We are looking forward to getting our follow-up fieldwork underway to check this.

“Horseshoe is just one of numerous REE anomalies we have identified in roadside sampling, and so we look forward to further results from infill soil surveys that are underway.”

Further activity

Impact will follow-up on the discovery of the Horseshoe REE prospect with field checking and rock chip sampling, which is expected to start in the next quarter.

Follow-up soil geochemistry surveys are already underway with about 1,000 samples planned to test some of the other REE anomalies as well as areas identified as prospective for nickel-copper-PGM and lithium mineralisation.

Results for these surveys are also expected in the next quarter.

The company has engaged SensOre to reprocess the 2022 HeliTEM survey data and prospectivity mapping for nickel and lithium by leveraging integrated AI/machine learning algorithms to large datasets to fingerprint and “predict” locations for mineral deposits.

This data will be synthesised to identify drill targets with the aim of completing a maiden drill program in late 2023 or early 2024.

 

 

 

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.

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