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Impact Minerals Limited (ASX: IPT) is pleased to announce that it has significantly increased its ground holdings for Ni-Cu-PGM and other metals in Western Australia through four joint venture agreements on projects in very prospective parts of the state.
- Impact to earn an 80% interest in four joint venture projects covering almost 1,000 square kilometres and prospective for nickel-copper-PGM, lithium and other metals.
- One project contains five drill ready targets, two of which are fully permitted for drilling and Impact proposes to drill those shortly.
- Continues the corporate strategy of an increasing focus in Western Australia following the recent $18 million joint venture with IGO at the Broken Hill Project New South Wales.
Impact Minerals’ Managing Director Dr Mike Jones said:
“We are extremely pleased to have secured this new ground in straight forward joint ventures with minimal cash outlay. The projects, which we identified with private groups, all contain untested geophysical and geochemical targets that add significant value to our existing high quality portfolio of projects in emerging prospective terranes across Western Australia”.
“The Hopetoun project contains two fully permitted drill targets and given the drill rig that is due to mobilise to our Doonia gold project near Kambalda is nearby, we are considering a quick test of these shortly. Together with Doonia this would mean we will be drilling throughout the summer months and so we are looking forward to strong news flow from now right through the first Quarter of 2022”.
“This significant expansion of our portfolio is a continuation of our strategy to focus in Western Australia following our recent joint venture with IGO who are earning into the Broken Hill project in New South Wales”.
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