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Impact Minerals Limited (ASX:IPT) is pleased to announce the acquisition of a large, 675 sq km landholding adjacent to its current land position surrounding one of the world’s greatest mines containing over 350 million tonnes of massive sulphide mineralisation, the Broken Hill silver-lead-zinc deposit in New South Wales.
- Impact to acquire a large tenement package from New Frontier Minerals Limited (ASX:NFM) adjoining its existing ground holding that almost completely surrounds the giant Broken Hill lead-zinc-silver mine in New South Wales.
- Impact’s ground now extends over 1,770 sq km and covers an area considered extremely prospective for large copper deposits following a novel exploration model that formed the basis of the company’s participation in the inaugural BHP Xplor program in 2023.
- Detailed mapping and sampling of 99 gabbro sills and other work completed during the Xplor program confirmed the copper potential with numerous areas for further exploration identified within the Broken Hill sequence. At least one such target lies within the newly acquired ground.
- Next steps will include ground geophysics to help identify targets for drilling.
- Terms of the acquisition are as follows: Impact to purchase BHA No 1 Pty Ltd, a wholly owned subsidiary of NFM, for $275,000 in Impact shares and subject to staged voluntary escrow over six months commencing one month after Completion.
The acquisition builds on exploration and research completed as part of the BHP Xplor program, in which Impact participated in its inaugural year, and positions the company as one of the largest ground holders in the region, particularly to the south of Broken Hill. Impact now has 100% ownership of tenements covering 1,770 sq km and over 100 kilometres of strike (Figures 1 and 2; ASX Releases January 17, 2023, and February 16, 2023).
The Broken Hill region is currently experiencing a resurgence of interest in exploration. Broken Hill Mines (ASX: BHM, formerly Coolabah Metals Limited) recently purchased the privately owned Rasp Mine in Broken Hill and the nearby Pinnacles deposit. In addition, South32 Limited has entered a joint venture with a private company that owns a significant ground holding north of the Broken Hill mine. This interest is partly driven by a recent increase in silver prices and long-term demand trends for zinc and lead.
The Search for Copper at Broken Hill
Since the discovery of the giant Broken Hill deposit in 1883, most previous exploration has focused on silver-lead-zinc mineralisation. However, various styles of copper mineralisation are also known to occur throughout the region and have been the focus of some exploration and shallow drilling, though with limited success (Figures 1 and 2). Since copper mineralisation is commonly associated with, but peripheral to, numerous silver-lead-zinc deposits, many exploration geologists have asked, “Where is the large copper deposit at Broken Hill?”.
Figure 1. Image of regional total magnetic intensity showing the Broken Hill orebody (Line of Lode), Impact’s granted licences and licence applications and the new tenements acquired. Note the Thackeringa Fault and Farmcote shear zone, both interpreted as deep-seated long-lived crustal lineaments, and the interpreted sub-basin in the new tenements. Widespread copper occurrences attest to the prospectivity of the region for copper. Impact’s rock chip locations are also shown.
Figure 2. Image of the first vertical derivative of regional magnetic data as in Figure 1. A detailed interpretation of this data has resulted in the identification of numerous target areas for large copper deposits.
Impact became interested in the region's copper potential during exploration for silver-lead- zinc at the Dora East prospect, located about 30 km south of Broken Hill (Figures 1 and 2). Here, Impact discovered moderate widths of high-grade silver-lead-zinc mineralisation and narrow zones of high-grade copper-silver mineralisation (Figure 3 and ASX Releases December 8, 2015, and February 19 2016).
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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
Right to Earn Majority Interest in Highly Prospective Chilean Copper-Gold-Molybdenite Porphyry Project and Placement to raise $2.2m
Highlights
- Large Cu-Au-Mo porphyry target untested at depth
- Coincidental datasets suggest substantial copper porphyry system
- Shallow historic drilling confirms porphyry mineralisation above target
- Drilling of targets to commence early Q4 2025
- Oliver Kiddie joins FMR as Managing Director
- Firm commitments received for $2.2m capital raising at $0.16 through a placement to existing and new sophisticated investors
- Mark Creasy to join the FMR register as major shareholder
The Southern Porphyry JV gives FMR exposure to a potential Company-making discovery. Coincidental datasets captured across the Southern Porphyry target area suggest a large, untested copper porphyry system below historic exploration. With proven fertility along a ~6km corridor at Llahuin, including historic shallow copper porphyry mineralisation directly above the Southern Porphyry target, this JV delivers FMR drill-ready targets for Q4 2025. The Company looks forward to updating shareholders as we progress towards maiden drilling of these exciting targets.
In conjunction, FMR is pleased to announce the appointment of Oliver Kiddie as Managing Director. Mr Kiddie is a geologist with over 20 years’ experience across exploration, resource definition, project development, and production throughout Australia and internationally. He has extensive experience in base metal and gold exploration through senior management, executive, and directorship positions, including Dominion Mining, European Goldfields, the Creasy Group, and Legend Mining.
Oliver Kiddie said:“I am very excited to be joining the FMR team as the Company expands its exploration portfolio with the Llahuin Project in Chile. I look forward to leading the Company through the next stage of growth and working with the experienced SUH team as the compelling Southern Porphyry drill targets are tested in Q4 this year, with the clear aim of a Company-making discovery.”
Project Description
Porphyry-style Cu-Au-Mo mineralisation identified to date at the Llahuin Project is largely hosted in three main mineralised zones - the Central Porphyry Zone, Cerro do Oro and Ferrocarril, which occur along a +2.5 km N-S strike (open north and south, with a total strike length of up 6 km). These zones are coincident with a north-south trending valley, potentially reflecting weathering of more regressive units or a structure.
Figure 1. Oblique view of Southern Porphyry Target looking to WNW showing 3D inversion model resistivity shells from magnetotelluric data, Llahuin Project drilling to date and tenements forming the joint venture. Refer to Figures 6 and 7 for location and plan view, and Figure 5 for a sectional view.
Llahuin was initially acquired in July 2011 by SUH through an intermediary from Antofagasta plc. Drilling completed across the project to date comprises 296 holes for 64,503m with a total of 62 holes for 11,927m completed on the JV Tenements, of which 9,156m reports to the Ferrocarril zone and are therefore not relevant to the Southern Porphyry Target. Drilling has resulted in the delineation of Mineral Resources which do not form part of the JV and do not form part of the transaction (see Figures 1 and 7).
In addition to drilling SUH has completed extensive geochemical and geophysical surveys at Llahuin, including detailed magnetics (MAG), induced polarisation (IP), and magnetotellurics (MT). These datasets have indicated a “blind” porphyry-style target at the southern end of the Llahuin Project named the Southern Porphyry Target. This target is defined by a coincident magnetic anomaly, IP resistivity anomaly, and MT resistivity anomaly. The target is modelled as a circular feature 1.5km – 2km in diameter and centred approximately 1,000m below surface (see Figures 1, 2, 3, 4, and 5).
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This article includes content from FMR Resources, 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.
Multiple High-Grade Results including 51.96% Cu C 52g/t Ag
- Initial assay results from maiden surface sampling program confirm wide-spread mineralisation
- Large representative rock samples were collected across Laphroaig, Jura and Oban districts
- At Laphroaig: High-grade copper over 500m strike, within a broader 2.0km trend, including:
- CMC0047: 51.96% Cu and 52.2g/t Ag
- CMC0042: 50.84% Cu and 65.3g/t Ag
- At Jura: High-grade copper over 5.0km strike, hosted within a major N-S trending fault, including:
- CMC0021: 19.10% Cu and 21.1g/t Ag
- CMC0101: 13.55% Cu and 24.3g/t Ag
- Maiden drill campaign scheduled to commence around 5th July focusing on Coronation C Jura
- Assay results for samples containing native copper are expected to be received in the next week
- Fully funded C fully permitted for high-impact maiden exploration drill campaign
- lanning underway for larger Phase-2 exploration program, including expanded drill campaign
Managing Director, Chris Hansen, commented,
“These are truly exceptional early results that speak to the scale, quality, and untapped potential of our Coppermine Project. To return grades of over 50% copper from surface samples — and to also return high-grade results from across multiple prospects — is a rare and exciting outcome. What’s even more compelling is the continuity of mineralisation we're seeing: over 500 metres at Laphroaig and more than 5.0 kilometres at Jura. This confirms the presence of an extensive, high-grade copper system, and supports the historic information we’re building on.
We are now entering a very exciting phase for Somerset. Our fully funded, fully permitted maiden drill campaign is set to commence in just over two weeks time, with walk-up targets defined by strong geophysical signatures and outcropping copper mineralisation. At Coronation, we’re targeting several high-priority IP anomalies supported by historical drill intercepts of up to 40 metres, while Jura and Laphroaig are shaping up as large-scale, structurally controlled, high-grade copper systems with district-scale potential. These early successes are the direct result of our methodical and targeted approach to exploration.
With a dominant landholding in one of the world’s last underexplored copper frontiers, drilling set to begin imminently and assays still outstanding for native copper sampling, we believe Somerset is uniquely positioned to potentially unlock a major new copper district.”
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This article includes content from Somerset Minerals 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.
Empire Metals Limited Announces Warrant Exercise
Application for Admission
Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 18 June 2025.
Following Admission of the new shares as described above, the issued share capital of the Company will consist of 690,393,221 ordinary shares of no-par value. 690,393,221 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed exploration and resource development company (LON: EEE) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.