Impact Minerals pursues lookalike PGE-nickel-copper and gold discoveries at greenfield WA projects

Impact Minerals ASX IPT Western Australia Arkun Beau Doonia gold project
Impact Minerals to carry out soil sampling at Arkun and Beau next month in the hope of uncovering a Julimar lookalike.

After a big week reporting on its New South Wales projects Broken Hill and Commonwealth, Impact Minerals (ASX: IPT) has revealed an update on its assets across the country in Western Australia.

Impact pegged its wholly-owned Arkun project 130km east of Perth following Chalice Mining’s (ASX: CHN) Julimar platinum group element-nickel-copper discovery last year.

The project was identified after reviewing publicly available geochemistry data.

Impact noted its interpretation of regional magnetic data led it to believe Arkun contains mafic and ultramafic rocks known for hosting PGE, nickel and copper deposits.

After Impact announced it had pegged Arkun, one of the world’s leading mining companies Anglo American lodged applications covering 10,130 square kilometres of ground surrounding three sides of Arkun.

Early-stage work at Arkun has including reconnaissance field checking and rock chip sampling.

Impact has also completed an interpretation of surface geology to confirm previous soil sampling. This information will be used to determine the best technique for follow up surveys.

Work at the project has shown host rocks are more widespread than originally shown on Geological Survey maps.

Additionally, mafic and ultramafic rocks have been noted to contained low levels of PGE up to 30 parts per billion in rock chip samples taken from several places.

“The assay values are note considered material, but do attest to the significant prospectivity of the area,” Impact explained.

“Most of the project area is covered by residual soils and ferricrete with limited transport cover. Accordingly, it is likely that the previous regional soil geochemistry surveys were moderately effective and that conventional soil geochemistry techniques can be used for follow up soil sampling,” the company added.

Impact expects this will allow quick assessments of target areas.

Meanwhile, a detailed interpretation of bedrock geology from regional magnetic data is close to completion.

This information will be used to identify priority areas for follow up work including field checking and ground geophysical surveys.

Soil geochemistry surveys are also planned and will begin next month.

Beau PGE-nickel-copper project granted

Just 15km north of Arkun is Impact’s Beau PGE-nickel-copper project, which hosts a 3km by 1.5km magnetic anomaly under shallow cover.

Impact says the anomaly is similar to the Gonneville Intrusion which hosts Julimar. It is also similar to the Newleyine intrusion which is proven to host the same style mineralisation.

The company was recently granted the tenement and will carry out a soil geochemical survey next month.

Doonia gold project

In addition to Arkun and Beau, Impact owns 80% of the Doonia gold project which is 75km east of the St Ives gold mining centre in WA.

Impact has just secured the Native Title Agreement for the asset with final grant of the tenement anticipated imminently.

The company plans to drill Doonia in the September and December quarters.

In readiness, Impact has completed a review of surface geology and magnetic data.

Impact noted Lefroy Exploration (ASX: LEX) had made a significant copper-gold discovery 20km west of Doonia at its Burns project last month.

“Doonia has a similar geological setting and similar sized modest positive magnetic anomaly to the Burns discovery where magnetic response is at least in part directly associated with magnetite alteration related to the gold-copper mineralisation,” Impact explained.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.