Junior explorer Impact Minerals (ASX: IPT) has secured four new joint venture agreements to increase its ground holding for nickel-copper-platinum group elements (PGE) and other metals in prospective parts of Western Australia.
The company has the right to earn an 80% interest in the Jumbo, Narryer, Dalgaranga and Hopetoun projects covering almost 1,000 square kilometres and comprising drill-ready prospects.
All of the projects contain untested geophysical and geochemical targets which could add significant value to Impact’s existing portfolio of projects in the state’s emerging prospective terranes.
Managing director Dr Mike Jones said the company was fortunate to secure the new land.
“We are extremely pleased to have secured this ground in straightforward joint ventures with minimal cash outlay,” he said.
“This significant expansion of our portfolio is a continuation of our strategy to focus [our exploration] on WA and we are looking forward to strong news flow from now through to the new year.”
The Jumbo project is made up of one 360sq km tenement adjacent to Impact’s Arkun project where the company recently identified a significant number of targets for nickel-copper-PGE, lithium and rare earth elements in first pass soil geochemistry surveys.
Jumbo is believed to contain the same geological features and extensions of the same structures as those considered prospective at Arkun.
Dr Jones said the project would be a “natural addition” to the company’s large strategic ground holding in a “very underexplored” part of the state.
Narryer comprises two tenements over 405sq km of the Narryer Terrane on the north-western margin of the Yilgarn Craton, which has become the focus of a surge in exploration for nickel-copper-PGE following Chalice Mining’s (ASX: CHN) Julimar discovery.
Narryer contains several untested magnetic and other geophysical anomalies which require follow up work.
Dalgaranga greenstone belt
Dalgaranga comprises one tenement over 150sq km along the western margin of the Dalgaranga greenstone belt containing the dormant Western Queen open pits which yielded approximately 700,000 ounces of gold in their heyday.
The region also houses the dormant Dalgaranga tantalum mine now being explored by Krakatoa for nickel-copper-PGE and pegmatite dykes.
Rio Tinto Exploration (ASX: RIO) recently pegged the eastern side of the same greenstone belt.
The Hopetoun project comprises two tenements over 75sq km, parts of which cross the prolific Albany-Fraser mobile belt.
Hopetoun contains at least five drill-ready targets for base and precious metals.
Two of the targets are fully permitted for drilling.