impact Minerals Limited (ASX:IPT) is pleased to announce the company's September 2021 Quarterly Report.

1. COMMONWEALTH Cu-Au PROJECT, NSW (IPT100%)

  • A large halo of copper and associated altered rocks covering a 1,000 metre by 1,000 metre by 350 metre deep area identified at Apsley.
  • Up to nearly 250 metre thick drill intercepts averaging from 100 ppm to 200 ppm copper with associated molybdenum and alteration minerals typical of the outer zones of a porphyry copper-gold system.
  • Similar copper values and alteration at the Ridgeway Mine occur within only 200 metres to 300 metres of the high grade core.
  • Metal zonation patterns have identified three areas for follow up work
  • COVID lockdown in NSW has curtailed activity in NSW until 2022.

2. ARKUN Ni-Cu-PGM PROJECT, WA (IPT100%)

  • 11 targets for Ni-Cu-PGM and 11 targets for lithium-cesium-tantalum (LCT) pegmatites identified with soil anomalies for both styles of mineralization extending over significant areas of many hundreds of metres on reconnaissance traverses.
  • The Arkun project is very poorly explored with no drilling and no previous lithium exploration.
  • Follow up work including field checking and rock chip sampling is in progress. Land access negotiations to commence as soon as practicable.
  • Very high success rate of anomaly identification validates Impact's targeting methodology.

3. DOONIA GOLD PROJECT, WA (IPT80%)

  • A statutory Heritage Survey with the Ngadju Group was completed.
  • All approvals are now in place for drilling planned for late November.
  • Drilling will test a large gold+bismuth soil geochemistry anomaly up to 2.5 km by 1.5 km in size centred over a cluster of smaller near-surface magnetic anomalies.
  • Strong geophysical and geochemical similarities to the recent Burns discovery (ASX:LEX) located 20km west of Doonia

4. CORPORATE

  • $2.2 million cash as at 30th September 2021.

Read the full report here.

IPT:AU

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