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Impact Minerals (ASX:IPT) has released its December 2021 quarterly report.
1. ARKUN Ni-Cu-PGM PROJECT, WA (IPT100%)
- Numerous high priority targets for Rare Earth Elements (REE) and rubidium identified in soil geochemistry data at the 1,900 sq km Arkun Project about 150 km east of Perth.
- The soil anomalies occur over significant areas of many hundreds of metres along individual reconnaissance soil geochemistry traverses.
- The REE comprise both heavy and light rare earth elements including the valuable elements neodymium, praseodymium, dysprosium, terbium, ytterbium, cerium and lanthanum.
- No previous REE or rubidium exploration in the region.
- Arkun increasingly recognised as a highly prospective part of the emerging mineral province of SW Western Australia with the additional recent identification of significant targets for nickel-copper-PGM mineralisation and lithium-caesium-tantalum (LCT) pegmatites,
- Land access negotiations to commence as soon as practicable.
2. EXPANSION OF WA PROJECT PORTFOLIO
- Impact to earn an 80% interest in four joint venture projects: Jumbo, Narryer, Dalgaranga and Hopetoun, covering almost 1,000 square kilometres and prospective for nickel-copper-PGM, lithium and other metals.
3. HOPETOUN PROJECT
- Thick alteration zone with abundant pyrite sulphide over four metres at end-of-hole intersected in RC Drilling of a copper-gold target.
- Extremely difficult drilling conditions precluded the continuation of RC drilling. A diamond drill rig is being sourced for follow up work in 2022.
4. BROKEN HILL PROJECT
- Joint venture with IGO who can spend $18 million over 8 years to earn a 75% interest in EL7390 and EL8234 in two stages: $6 million to earn a 51% interest and a further $12 million to earn a further 24% interest.
- Minimum expenditure of $500,000 before withdrawal.
- Dr Frank Bierlein appointed as non-executive Director.
- $1.5 million cash as at 31st December 2021
This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.