Impact Minerals (ASX: IPT) has identified new potential at its Arkun nickel-copper and platinum group metal project in Western Australia, with soil sampling also revealing lithium-caesium-tantalum mineralisation is present.
Soil geochemistry results have uncovered lithium-caesium-tantalum pegmatites at Arkun, as well as generating a “significant number” of high priority nickel-copper-PGM targets.
All up, the soil sampling program has produced 11 nickel-copper-PGM targets and a further 11 lithium-caesium-tantalum prospects.
Impact managing director Dr Mike Jones said the results had “exceeded” the company’s expectations “by a long way”.
He said the results were also a credit to the company’s target generation technology.
“To have identified 11 targets for nickel-copper-PGM is exciting enough in its own right, but recognising the potential for lithium pegmatites over a very large area is also a significant breakthrough for Impact.”
Dr Jones pointed out the region hosts Chalice Mining’s (ASX: CHN) Julimar nickel-copper-PGM discovery and the world-renowned Greenbushes lithium mine.
Western Australian focus
With the ongoing COVID-19 outbreak in New South Wales, Dr Jones said the company was focusing on its WA assets.
Follow up work has already begun at Arkun with drilling anticipated to begin early next year.
This follow up work includes a rock chip sampling program, which is in progress, plus field checking and land access negotiations.
According to Impact, Arkun is “very poorly explored”. The project has had no previous drilling or exploration for lithium.
The project encompasses about 1,900 square kilometres and is between the towns of York and Corrigin about 130km east of Perth.
Impact is also planning a 3,000m reverse circulation drilling program at its 80%-owned Doonia gold project, which is only 20km from Lefroy Exploration’s (ASX: LEX) Burns copper-gold discovery east of Kambalda.
A heritage survey at Doonia kicked off earlier this month.
Impact says Burns has a new style of mineralisation within the eastern goldfields and could potentially herald a new model for similar discoveries in the region.