Impact Minerals December 2021 Quarterly Report

Impact Minerals (ASX:IPT) has released its December 2021 quarterly report.

1. ARKUN Ni-Cu-PGM PROJECT, WA (IPT100%)

• Numerous high priority targets for Rare Earth Elements (REE) and rubidium identified in soil geochemistry data at the 1,900 sq km Arkun Project about 150 km east of Perth.
• The soil anomalies occur over significant areas of many hundreds of metres along individual reconnaissance soil geochemistry traverses.
• The REE comprise both heavy and light rare earth elements including the valuable elements neodymium, praseodymium, dysprosium, terbium, ytterbium, cerium and lanthanum.
• No previous REE or rubidium exploration in the region.
• Arkun increasingly recognised as a highly prospective part of the emerging mineral province of SW Western Australia with the additional recent identification of significant targets for nickel-copper-PGM mineralisation and lithium-caesium-tantalum (LCT) pegmatites,
• Land access negotiations to commence as soon as practicable.

2. EXPANSION OF WA PROJECT PORTFOLIO

• Impact to earn an 80% interest in four joint venture projects: Jumbo, Narryer, Dalgaranga and Hopetoun, covering almost 1,000 square kilometres and prospective for nickel-copper-PGM, lithium and other metals.

3. HOPETOUN PROJECT

• Thick alteration zone with abundant pyrite sulphide over four metres at end-of-hole intersected in RC Drilling of a copper-gold target.
• Extremely difficult drilling conditions precluded the continuation of RC drilling. A diamond drill rig is being sourced for follow up work in 2022.

4. BROKEN HILL PROJECT

• Joint venture with IGO who can spend $18 million over 8 years to earn a 75% interest in EL7390 and EL8234 in two stages: $6 million to earn a 51% interest and a further $12 million to earn a further 24% interest.
• Minimum expenditure of $500,000 before withdrawal.

5. CORPORATE

• Dr Frank Bierlein appointed as non-executive Director.
• $1.5 million cash as at 31st December 2021

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