The Conversation (0)
A large and significant target for porphyry copper-gold mineralisation has been identified at Impact Minerals Limited’s (ASX:IPT) 100% owned Arkun Project located 150 km east of Perth in the emerging mineral province of southwest Western Australia (Figure 1).
- A large and significant target for porphyry copper mineralisation has been identified in soil geochemistry data and Mobile Magneto-Telluric (MMT) data at the Caligula Prospect.
- A 5 km by 1 km soil geochemistry anomaly contains the key metal assemblage of copper- silver-cobalt+/-tellurium-bismuth-molybdenum, all indicators of porphyry copper mineralisation such as is found at Boddington and Calingiri in the same region of Western Australia. Gold assays are expected in February.
- The geochemistry anomaly coincides with numerous conductors identified in the MMT data that may represent disseminated or massive sulphides.
- Infill and extensional soil geochemistry surveys, together with a detailed interpretation of the MMT data, are underway to define the extent of Caligula and identify specific drill targets more fully.
- A follow-up aircore drill programme is to be undertaken as soon as practicable, which will also include the recently discovered Hyperion and Swordfish REE prospects.
The newly named Caligula prospect, initially identified in roadside and subsequent follow-up soil geochemistry surveys (Anomaly D: ASX Release 9th August 2023), has been significantly enhanced by the presence of several significant conductors within the geochemistry anomaly that may represent disseminated or massive sulphides.
The conductors were identified in recently acquired helicopter-borne Mobile Magneto-Telluric (MMT) data from one of the first surveys of this cutting-edge technology to be flown in Australia.
Caligula adds to Impact’s previously reported large Rare Earth Element soil geochemistry anomalies identified at Hyperion, located 15 km to the west, and Horseshoe, located 20 km to the east, and emphasises the significant exploration potential for a range of battery and strategic metals at the Arkun project (Figure 4 and ASX Releases 4th January 2024 and 1st June 2023).
Impact Minerals’ Managing Director, Dr Mike Jones, said, “The discovery of the Caligula Prospect is yet another significant and exciting breakthrough in our exploration at Arkun following the recent discovery of the Hyperion and Swordfish Rare Earth Element Prospects. It is one of the first of the many geochemical and geophysical targets we have at the project where we have actually been able to define the size and scale of the anomalies more fully and, given we have at least a dozen more similar areas to follow up, I am confident of more significant anomalies to come at Arkun. We are working towards a maiden drill programme as quickly as possible, and we will aim to cover as many targets as possible, including Hyperion and Swordfish. We are very encouraged by our results so far.”
Figure 1. Location and regional geological setting of Impact’s Arkun and other projects shown in blue in the emerging mineral province of southwest Western Australia. Significant nickel deposits are shown in orange, lithium deposits in green and gold deposits in yellow.
Soil Geochemistry Results
The soil geochemistry results have defined an area of anomalous copper-in-soils that extends over about 5,000 metres north-south and up to at least 2,000 metres east-west. It is open to the east and the southwest (Figure 2 and Figure 4). The copper is associated with anomalous silver and cobalt and, in the southern part of the anomaly, also has a strong association with bismuth, tellurium and lesser molybdenum (Figure 2). Maximum and minimum values for the metals are given in Table 1.
This metal assemblage is characteristic of metals associated with porphyry copper deposits and this is encouraging for future exploration.
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This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
IPT:AU
Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
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High-Grade Gold Discovery in First 8 Mile Drill Hole
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
Click here for the full ASX Release
This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
