June 2024 Quarterly Report

HIGHLIGHTS

1. Lake Hope, WA (IPT 80%)

• Work continued on the Pre-Feasibility Study (PFS) which is on schedule for completion in Q4 2024.
• Key appointments made:
  Indigenous Services Australia (ISA) appointed to establish a long-term relationship with the Ngadju group.
  David English, who led the feasibility and mine development work on Sandfire Resources’ De Grussa and Sirius Resources’ Nova-Bollinger projects appointed to lead the Pre-Feasibility Study at Lake Hope.
• Baseline environmental surveys indicate no Threatened or Priority species of flora and fauna occur on the Lake Hope salt pan.
• Scope 1 and Scope 2 CO₂ emissions per tonne of HPA produced are targeted to be competitive globally, with a strategy for achieving zero carbon HPA defined.
• Metallurgical test work continued for both the Sulphate and Low- Temperature Leach processes.
• Initial discussions commenced with the Ngadju Aboriginal group to support a Mining Lease application.
• Drill results from neighbouring lakes received and being interpreted.

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

• Co-funding of up to $180,000 has been awarded under the WA Government’s EIS scheme to drill the Caligula copper target, identified through soil geochemistry and Mobile Magneto-Telluric (MMT) data.
• Infill and extensional soil geochemistry surveys have been completed to define potential drill targets, with assay results expected this Quarter.
• Drilling completed at the Hyperion Rare Earth Element (REE) Prospect.
• Metallurgical leach test-work received post-Quarter end with poor recoveries as expected.

3. Commonwealth Project (IPT 100%)

• Burrendong Minerals continues to progress towards an IPO in Q4 2024. Various submissions to ASX for approval to list are in progress.

4. Other Projects

• Broken Hill: data synthesis and interpretation in progress on all data collected during the BHP Xplor Programme. Some early-stage discussions are in progress with other groups with a view to a possible joint venture arrangement.
• Doonia: assays received and being interpreted.
• Southwest Regional: The early stage Dinninup, Martup Hills and Mineral Hill projects were relinquished due to an increasing focus on Lake Hope.

5. Corporate/Finance

• Strategic A$3 million placement mostly supported by major shareholders.
• In addition, $725,000 in funds were received from the exercise of listed options (IPTOB).
• A FY23 Research and Development Rebate of $395,000 was received during the Quarter.

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.