Large REE Soil Geochemistry Anomaly Identified at the Arkun Project WA

A significant and large soil geochemistry anomaly for Rare Earth Elements (REE) and called the Horseshoe Prospect, has been identified at Impact Minerals Limited’s (ASX: IPT) 100% owned Arkun project in the emerging mineral province of southwest Western Australia (Figure 1).

• A large Rare Earth Element (REE) soil geochemistry anomaly about 10 kilometers long, up to 2,000 meters wide, and comprising Light and Heavy REE has been identified in the NE of the Arkun Project.
• The anomaly, called the Horseshoe Prospect, occurs in the contact zone of an intrusion adjacent to a major regional fault, a prime location for REE.
• Further surveys are in progress to follow up on numerous other REE (and other metal) anomalies identified in reconnaissance roadside soil geochemistry surveys.
• Southwest WA is starting to emerge as an REE Province similar to the Gascoyne and Esperance areas.
• Interpretation of nickel-copper-PGM and lithium soil geochemistry data, HeliTEM and DGPR data are in progress.

The anomaly is about 10 kilometers long, up to 2,000 meters wide and comprises both the more valuable Heavy Rare Earth Elements (HREE) and the Light Rare Earth Elements (LREE) (Figures 2 and 3).

The anomaly is arcuate and centered around a prominent magnetic low adjacent to a major regional fault visible in regional magnetic data. In addition, it coincides with an elevated potassium response in regional radiometric data (Figure 4).

This is all interpreted to indicate that the REE may be associated with a zone of potassic alteration related to the immediate contact zone (goldilocks zone) of a weakly magnetic felsic or possibly alkaline/carbonatite intrusion that may have migrated from depth along a major fault. Field checking and rock chip sampling are now required to test this further and help identify specific drill targets.

Impact Minerals’ Managing Director, Dr Mike Jones, said, “The new and exciting Horseshoe Prospect is in a prime location for REE being associated with the contact zone of an intrusion adjacent to a major fault zone. In addition, the area is also very weathered, so there is also the potential for REE ionic clay deposits. We are looking forward to getting our follow-up fieldwork underway to check this.

Horseshoe is just one of numerous REE anomalies we have identified in roadside sampling, and so we look forward to further results from infill soil surveys that are underway. This and other recent discoveries in the region suggest that southwest Western Australia could also become an REE province like the Gascoyne Province and the Albany-Fraser Belt near Esperance. We are happy to have such a significant ground-holding in this region.

We are also interpreting the soil geochemistry results for nickel-copper-PGM and lithium and look forward to announcing those results when completed.’

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