Impact Minerals

Caligula – A Significant Copper Target at the Arkun Project, WA

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.


Click here for the full ASX Release

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
Impact Minerals Limited

Impact Minerals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Impact Minerals (ASX:IPT)

Impact Minerals Limited


Keep reading...Show less

Developing the lowest-cost HPA project in Australia

Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold all time high often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security. And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Keep reading...Show less
Gold coin stacks with up arrow.

Gold Price Hits New Record, Breaking US$2,975 for First Time

The gold price reached yet another record high on Thursday (March 13), breaking US$2,975 per ounce.

The precious metal has seen significant momentum since the start of the year.

Recent US consumer and producer price index data released on Wednesday (March 12) and Thursday shows that inflation has become stuck, adding more fuel to recession speculation and buoying gold.

Keep reading...Show less
John Feneck, stock charts.

John Feneck: Gold Landscape Never Better, Plus 9 Stocks on My Radar Now

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his updated outlook for gold, saying that the yellow metal still has space to run.

He also discusses nine gold and "special situations" companies that are on his radar.

Watch the interview for more, or click here for the Investing News Network's Prospectors & Developers Association of Canada convention playlist on YouTube.

Keep reading...Show less
Brian Leni, mine site.

Brian Leni: Latest Mining Stock Wins and How I'm Deploying Cash Now

Brian Leni, founder of Junior Stock Review, runs through his investment strategy, saying he's looking for stocks with an "X factor" that's being overlooked.

Watch the interview above for more of this thoughts.

You can also click here to view the Investing News Network's Prospectors & Developers Association of Canada convention playlist on YouTube.

Keep reading...Show less
Willem Middelkoop, gold bars.

Willem Middelkoop: Gold to Benefit as Chaos Rises, Silver's Path to US$100

Willem Middelkoop, founder of Commodity Discovery Fund, shared his thoughts on the commodities space, saying that an "era of shortages" is arriving.

He believes that will propel prices up from today's rock-bottom levels, creating investment opportunities.

Middelkoop also discussed geopolitics, looking at recent moves from the Trump administration.

Keep reading...Show less
Impact Minerals Limited

Impact Minerals Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×