Impact Minerals

September 2023 Quarterly Report

Impact Minerals Limited (ASX:IPT) is pleased to provide its Quarterly Activities Report for the period ending 30 September 2023.


HIGHLIGHTS

1. Lake Hope, WA (IPT 80%)

  • Heritage survey completed with the Ngadju Native Title group with clearance received for ground-disturbing activities over the entire Lake Hope deposit and nearby access tracks.
  • The heritage clearance significantly de-risks the Lake Hope project and is a critical component of the work required to lodge a Mining Lease Application planned for the December Quarter.
  • A Scoping Study for the project is being finalised, with metallurgical test work and other studies for the Pre-Feasibility Study underway.

2. Broken Hill, WA (IPT 100%)

  • Broken Hill update: Xplor programme completed. Data synthesis and interpretation in progress of all data collected during Xplor.

3. Arkun-Beau, WA (IPT 100%)

  • Five large nickel-copper-platinum group-metal (Ni-Cu-PGM) soil geochemistry anomalies, each covering several square kilometres, were identified in the northern portion of the Arkun project.
  • The soil anomalies coincide with magnetic and gravity geophysical anomalies that may represent mafic and ultramafic intrusions.
  • Field checking confirms that mafic and ultramafic rocks occur within some anomalies and are priority targets for magmatic Ni-Cu-PGM mineralisation.
  • A further 1,000 soil samples have been recently collected and submitted to the laboratory, with results due in the December Quarter.
  • Twenty moderate to strong electromagnetic (EM) conductors were identified in 400 m line-spaced airborne electromagnetic (“AEM”) survey data collected by the XCalibur HELITEM time-domain system.
  • Priority EM anomalies coincide with the magnetic and gravity anomalies and Ni Cu PGM-in-soil anomalies.
  • Many other anomalies have yet to be soil sampled, and this work is a priority for the next few Quarters with a view to a maiden drill programme in 2024.

4. Commonwealth Project (IPT 100%)

  • Revised Terms agreed for the Sale of a 75% Interest in the Commonwealth Project, NSW

5. Corporate

  • Cash at September 30th 2023, was $3.1million
  • An Extraordinary General Meeting was held on 1 August 2023 to ratify the previous issue of shares and options and to obtain approval for consideration regarding the Lake Hope Project.


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.

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