Australia made headlines when it recently overtook China as the world’s top gold producer, catalyzing renewed interest in the country’s mining potential. In fact, according to the US Geological Survey, Australia is the world's sixth-largest copper producer, with a reported 850,000 million tonnes.
The Government of Western Australia reported that between 2021-2021, base metals sales were up to $1.7 billion, primarily attributed to a spike in copper prices, while nickel sales were up at $3.5 billion, the highest value seen in the last seven years. According to ASX Senior Manager for Listings, James Posnett, "2021 was really a year of records in the listing business." This creates a perfect storm for investors looking into ASX-listed companies with projects in Australia.
One such company is Impact Minerals (ASX:IPT), a project generator focused on discovering and developing new projects within Australia. The company already owns five distinct projects located in premier mining regions in New South Wales and Western Australia, totaling 4,000 square kilometers. Each project is targeting high-grade mineral deposits, such as precious and base metals, and platinum group metals (PGMs). Its diverse project portfolio is supported by a strong cash position with a solid management team that will allow continued exploration and development.
The company is a project generator, and it lives up to the description. The experienced management and technical team have honed methods of quickly generating extensive exploration data that highlight the potential of a given project. The data accumulation and analysis adds value to the tenement, which can bring additional partnerships and investors to propel further development or have the potential to be bought out.
“In terms of trying to reduce the risk, it’s the case nowadays where you need to take a scientific approach to what you’re doing. One of the big changes in the industry over the past 10 years is that it’s now a lot easier and a lot cheaper to generate a great amount of data. So, we’ve been recognized for our technical excellence,” said Dr. Mike Jones, Managing Director at Impact Minerals, in a recent interview where he discussed project generation “We have a philosophy here: you do the proper work properly. If you cut back on drilling and interpretation, you’ll end up falling over.”
Impact Minerals currently has 100 percent ownership over five projects, with 80 percent ownership of the Doonia project. Each project is actively being explored moving towards development and may include new partnerships. The company’s 2021 Annual Report discusses the specific advancements that have been recently achieved on each tenement, which are briefly summarized in the Chairman’s Letter.
As an example of how Impact Minerals project generator model works, the Company holds an $18 million joint venture agreement with major company IGO Limited (ASX: IGO) whereby IGO has agreed to farm into Impact’s Broken Hill nickel-copper-platinum group metals (PGM) project in New South Wales. Under the agreement, IGO can spend $6 million over four years to earn a 51 percent interest in the project, and can spend a further $12 million over a further four years to earn a 75 percent interest.
A strong management team with over 50 years of combined industry experience forms the backbone of the company. Peter Unsworth, non-executive chairman, has over 35 years of experience in multiple financial sectors such as securities industries and wealth management. Dr. Mike Jones, managing director, has his degree in mining and exploration geology that launched a long career consulting and leading mining organizations. Paul Ingram, non-executive director, has led several mining companies dating back to 2003. Impact Minerals has the experience and expertise to lead the company to success.
- Impact Minerals is a project generator focused on New South Wales and Western Australia, and currently owns five exploration projects with multiple, high-grade mineral discoveries.
- Each project is actively being explored and moving towards development.
- Impact Mineral’s flagship 2,000 sq km Arkun nickel-copper-PGE project in Western Australia is unexplored, and surrounded by Anglo American Corporation.
- The company holds an $18 million joint venture agreement with IGO Limited (ASX: IGO) to farm into Impact’s Broken Hill nickel-copper-platinum group metals (PGM) project in New South Wales.
- The company is led by a strong management team with experience in both geology, mining, and corporate financing
Arkun Project - WA
The flagship Arkun project is a 2,000 sq km nickel, copper, gold project located in the emerging
Ni-Cu-PGE province near Julimar, and surrounded by Anglo American Corporation who secured their ground holding shortly after Impact secured theirs. Anglo American is one of the world’s top ten mining companies and their presence in the region brings confidence to the project.
Impact Minerals’ early geochemical survey campaigns indicated the presence of nickel, copper, and gold anomalies throughout the project area.
Impact is currently planning following up work programmes, including drilling, at its priority targets and this work will commence in early 2022.
Broken Hill Project - NSW
The Broken Hill project has a major land position of 815 square kilometers and hosts multiple targets believed to contain high-grade nickel-copper-PGM deposits. Broken Hill is located in New South Wales, Australia, an area known for prolific slver-lead-zinc mining operations. ,
The project has significant exploration potential for nickel-copper-PGE and at the time the host rocks were formed Broken Hill was located close to the world class nickel-copper-PGE deposit of Jinchuan and the significant Lengquisheng deposit. The project area also has the potential to contain zinc-lead-silver deposits, providing even more value.
One of Impact Minerals’ major breakthroughs in 2021 was completing an explorative drilling program that led to the discovery of a geochemical ratio that allows for faster development of the tenement. Instead of needing to wait for six months for analysis, the new discovery will help assess the likely grade of the mine.
Doonia Project - WA
The 80 percent owned Doonia project is located 75 km east of Kambalda in the Mt Belches Basin in Western Australia. The project notably contains a clearly defined target that is ready for immediate drill testing, pending the grant application.
Impact Mineral’s current survey initiatives strongly suggest the presence of high-grade gold deposits. Currently, the company is planning to drill the project early in 2022.
This project is a joint venture with Odette Resources Pty Ltd who retains specific rights detailed on the project’s page.
Impact Minerals Managing Director, Dr. Mike Jones, shared, “Doonia is a highly prospective addition to our exploration portfolio and we acted very quickly when alerted to the opportunity. We now have an exploration project with excellent indications for the discovery of a significant gold deposit with a target that is already well defined, easily manageable and cheap to test.
Commonwealth Project - NSW
The Commonwealth project in NSW is a large strategic ground holding of 902 square kilometers that has the potential for giant copper-gold deposits in multiple locations. Impact Minerals was initially focused on the Commonwealth VMS deposit but has recently pivoted to porphyry copper-gold exploration.
This year saw the use of airborne magnetic and radiometric survey initiatives to gain more data about the five previously established priority areas. This initiative was a follow-up survey campaign due to promising results from the 2019 discovery of a large copper deposit nearby.
Blackridge Project - QLD
Covering over 150 square kilometers and 100 percent owned by Impact Minerals, the Blackridge project in Queensland occupies 90 percent of the southern part of a promising historic gold field. Already completed free digging confirmed the presence of gold nuggets, but further sampling will help establish a uniform grade for the proposed deposits.
Peter Unsworth - Non-Executive Chairman
Founding Chairman Peter Unsworth, formerly a Chartered Accountant, has more than 35 years of experience in the corporate finance, investment, and securities industries and a wealth of management experience with both public and private companies. A former Executive Director with a leading Western Australian stockbroking company, Unsworth has been a director of a number of public exploration and mining companies. He recently completed a long period serving as Chairman of the Western Australian Government-owned Gold Corporation (operator of The Perth Mint).
Dr. Mike Jones - Managing Director
Founding Director Dr. Mike Jones completed undergraduate and post-graduate studies in Mining and Exploration Geology at Imperial College, London. His Ph.D work on gold mineralisation saw him move to Western Australia in 1988 to work for Western Mining Corporation exploring for gold and nickel deposits in the Yilgarn. From 1994 he consulted to the exploration and mining industry specialising in the integration of geological field mapping and the interpretation of geochemical, geophysical and remotely sensed data for target generation. Dr Jones has worked on over 80 projects both in greenfields and near mine exploration in a wide variety of mineralised terrains and was the founding director of Lithofire Consulting Geologists in Perth, Australia. He was also the team leader during the discovery of a significant gold deposit at the Higginsville Mining Centre, near Kalgoorlie, and an iron ore deposit near Newman, both in Western Australia.
Paul Ingram - Non-Executive Director
Paul Ingram is a geologist with extensive experience in managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas and has managed projects in countries throughout Australia and east Asia.
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