
June 18, 2023
Impact Minerals Limited (ASX:IPT) is pleased to announce a significant, substantial and high-grade maiden Mineral Resource Estimate (MRE) for its flagship Lake Hope High Purity Alumina (HPA) Project located about 500 km east of Perth in Western Australia. Impact has the right to earn an 80% interest in Playa One Pty Ltd, owner of the Lake Hope Project, via an incorporated joint venture (Figure 1 and ASX Release 21st March 2023).
- A maiden mineral resource of 3.5 million tonnes at 25.1% alumina (Al2O3) for a contained 880,000 tonnes of alumina has been defined at the Lake Hope HPA Project in WA.
- 88% of the resource, or about 775,000 tonnes of alumina, is in the higher confidence Indicated Resource category.
- Impact aims to bring Lake Hope into production to deliver high-margin end-products into a rapidly expanding global market with current prices for benchmark 4N HPA (99.99% Al2O3) and related products of about US$20,000 per tonne.
- The unique geological properties of the Lake Hope deposit will allow for a shallow, very low-cost, free-digging operation only one to two metres deep and with offsite metallurgical processing at an established industrial site.
- Previous bench-scale metallurgical test work has produced HPA from representative lake clays via a disruptive sulphuric acid hydrometallurgical process likely to be cost- competitive with other producers and developers in Australia and globally.
- The proposed operation will have a small environmental footprint and low carbon emissions.
- Impact will continue to focus its immediate activities on completing the Scoping Study, lodgement of a Mining Lease Application in Q3 2023 and the continuation of a Pre-Feasibility Study, which includes more comprehensive metallurgical test work and baseline environmental studies.
- An initial heritage survey with the Ngadju First Nations group will commence in late June-early July.
Impact Minerals’ Managing Director, Dr Mike Jones, said, “This large and high-grade alumina resource will underpin our quest to become one of the world’s lowest-cost producers of High Purity Alumina over the next few years. This unique resource could provide multi-decade delivery of a mineral product recently added to Australia’s Critical Mineral list.
The resource allows us to now finish our Scoping Study which will demonstrate the economics of the project and be a catalyst for Impact to lodge a Mining Lease Application in the next Quarter. The Pre- Feasibility Study also continues apace with metallurgical test work, environmental baseline studies in progress, and a heritage survey with the Ngadju First Nations group to be completed in July. We continue our rapid journey to low-cost production in the quickly expanding, high-margin HPA business where current benchmark prices for 99.99% purity alumina or so-called 4N HPA, are currently in the region of US$20,000 per tonne”.
The Mineral Resource, 88% of which is in the higher confidence category of Indicated Resources, lies within a unique deposit of high-grade alumina (aluminium oxide, Al2O3) hosted by extremely fine-grained evaporite and clay minerals in the top two metres of two small dry salt lakes in the Lake Hope playa system (West Lake and East Lake, Figure 2 and ASX Release 21st March 2023).
The Mineral Resource Estimate is shown in Table 1 and is reported in accordance with the requirements of the JORC Code 2012 by resource consultants H and S Consultants Pty Ltd (H&SC) of Brisbane, Queensland. All drill hole information and assay data are provided in Appendices 1 and 2.
Table 1. Lake Hope Alumina Mineral Resources
The alumina block grade distribution for the two Mineral Resources is shown in Figure 2. The grade increases towards the centre of the lakes, and this offers an opportunity for preferential mining of the higher-grade material in the early stages of any future mine development.
Planned Production of High Purity Alumina
Playa One has developed a novel, relatively low-cost hydro-metallurgical process to convert alumina mineralisation of a type as found on Lake Hope into High Purity Alumina (HPA) with the potential to produce a purity exceeding 99.99%, (so-called 4N HPA), generally taken as the industry standard purity for product comparison. (ASX Release 21st March 2023).
Impact’s review of this novel process indicates that, together with the unique physical and chemical characteristics of the Lake Hope clays, the entire project may offer a breakthrough in the cost of HPA production and be potentially cheaper than other HPA ores such as kaolin or feldspar.
Initial and unoptimised recoveries from the bench scale test work of the process suggest that a significant proportion of the alumina resource at Lake Hope may be converted to HPA. Optimisation of the process is a key focus of the Pre-Feasibility Study currently in progress (ASX Release 6th April 2023).
Impact will also own a proportional share of the processing technology by earning an interest directly in Playa One Pty Limited via an incorporated joint venture. Further details on the joint venture are provided at the end of the report.
Other advantages of the Lake Hope Project which indicate the potential for low-cost production of HPA include (ASX Release 21st March 2023):
- The naturally occurring and homogeneous micron-sized particles in the clay, which can be mined by free-digging and will require no comminution, grinding, classification, or wet-dry screening.
- The clay can be dug up and trucked to an off-site processing facility, likely to be in either Kalgoorlie or Perth where permitting will more straightforward (Figure 1)
- A simple wash and filtration circuit is all that is required for upfront processing.
- A low-temperature sulphuric acid leach can be used which is a generally readily available and is a cheaper acid than others.
- The sulphuric acid leach also eliminates the front-end energy-intensive calcination required in the kaolin hydrochloric acid leach process, thus significantly reducing energy costs, flow sheet complexity and CO2 emissions.
Next Steps
In order to accelerate the development timeline for Lake Hope, a Scoping Study and Pre-Feasibility Study (PFS) on Lake Hope are being run in tandem. The Scoping Study, to be completed in the third Quarter of 2023, will comprise high-level assumptions about the economic potential of the project based on the new resource, mining studies, preliminary metallurgical recoveries and likely offtake prices.
The PFS, which will be completed in mid-2024 will be based on more detailed studies which are in progress (ASX Release 6th April 2023). This work includes metallurgical optimisation test work, baseline flora, fauna and groundwater surveys, and geotechnical, logistics and freight studies.
As part of the PFS, an initial cultural and heritage survey with the Ngadju First Nations group will be completed in early July. This is a key part of the process to allow Impact to lodge its first ever Mining Lease Application over Lake Hope in the next 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.
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Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
Click here to connect with Pacgold (ASX:PGO) to receive an Investor Presentation
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15h
High-Grade Gold Discovery in First 8 Mile Drill Hole
Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to announce that the first RC drill hole at the 8 Mile target has intersected high-grade gold and ended in mineralisation.
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
Click here for the full ASX Release
This article includes content from Miramar Resources 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.
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21h
Pacgold
Investor Insight
Pacgold is one of Australia’s most compelling gold exploration opportunities, backed by a strong technical team, offering investors exposure to a large-scale, underexplored gold system with significant resource growth potential.
Overview
Pacgold (ASX:PGO) is an Australian gold exploration company focused on the systematic advancement of the Alice River gold project in Northern Queensland. The company is led by a technically driven and highly experienced team of geologists and mining professionals, with demonstrated success in exploration, resource development and capital markets.
Pacgold team on site at Alice River gold project
With a dominant land position in the region, Pacgold holds 377 sq km of exploration permits and eight mining leases across the prospective Alice River Fault Zone (ARFZ). This structure is interpreted as part of a large-scale intrusion-related gold system, with characteristics analogous to major global deposits such as Fort Knox (USA) and Hemi (Western Australia).
The company has validated its model through drilling success at the Central Zone, culminating in a maiden mineral resource of 474,000 oz of gold. This comprises both open pit and underground components, with resource grades averaging 1.2 grams per ton (g/t) gold, and zones open in all directions. Less than five percent of the strike length has been tested, and much of the prospective corridor is obscured by thin sand cover, highlighting strong potential for blind discoveries.
With extensive infrastructure already in place, including an airstrip, accommodation camp and road access within 100 km, Pacgold is positioned to rapidly scale exploration and accelerate resource growth. The 2025 campaign, which includes more than 10,000 metres of RC drilling and new IP surveys, aims to unlock the full regional potential of the ARFZ.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
Key Project
Alice River Gold Project
The Alice River gold project is a large-scale, greenstone-hosted gold system centred on the regional ARFZ, located in Northern Queensland. The project area comprises 377 sq km of contiguous tenure, including eight granted mining leases. Pacgold controls over 30 km of strike length along the ARFZ, a major crustal-scale structure that has only recently been systematically explored with modern techniques.
The deposit style is interpreted as an intrusion-related gold system, a highly attractive deposit type known for hosting long-life, large-tonnage gold mines. Examples include the Fort Knox gold mine in Alaska and the Hemi gold project in Western Australia. The Alice River system features sheeted quartz-sulfide veining, extensive sericite-altered zones, and strong IP chargeability responses coincident with surface gold anomalism.
Pacgold’s 2024 and 2025 drilling campaigns have focused on the Central Zone, which yielded the maiden MRE totaling 474,000 oz gold across both open pit and underground resources. The pit-constrained resource includes 10.6 Mt at 1.2 g/t gold (404,000 oz), with a further 1.5 Mt at 1.4 g/t gold (71,000 oz) defined for underground potential. High-grade zones remain open at depth and laterally, with drill spacing still relatively broad (~80 x 80 metres), leaving significant scope for resource expansion.
Beyond the Central Zone, the company has delineated multiple high-priority regional targets along the ARFZ. These include:
- White Lion: A compelling target with surface gold anomalism and a coincident IP chargeability anomaly. A gradient and dipole-dipole IP survey is being extended in Q2 2025, with drilling expected in Q4.
- Victoria and The Shadows: Emerging prospects to the south with limited historical drilling but strong geophysical responses.
- Posie and Southern Target Area: Additional areas along the southern ARFZ strike that exhibit strong structural preparation, geochemical responses and potential for concealed mineralization.
Drilling recommenced in April 2025, with RC drilling underway and air-core and diamond drilling scheduled through Q3 2025. The program aims to increase drill density in resource zones and test underexplored regional anomalies. Pacgold expects up to 15,000 metres of total drilling during the 2025 campaign, coupled with ongoing geophysical targeting, including IP and drone magnetics.
The project is fully permitted, with strong access and logistics, and is located in a low-risk jurisdiction with significant precedent for gold development. With limited historical exploration and clear mineralizing controls now defined, Alice River represents a transformative opportunity to uncover a Tier 1 discovery in an overlooked Australian belt.
Management Team
Matthew Boyes – Managing Director and CEO
Matthew Boyes is a geologist with over 28 years of international experience across mine geology, exploration, corporate leadership and capital markets. He has managed exploration teams and development projects across Western Australia, the Americas and Europe. His technical oversight and commercial strategy guide Pacgold’s resource growth and investor engagement.
Caoilin Chestnutt – Non-executive Chair
A former head of business development at BHP and currently head of technical services at Thiess, Caoilin Chestnutt brings nearly 30 years of experience in global exploration strategy, M&A and deal structuring across multiple commodities. She is also deputy chair of Critical Minerals at the Queensland Exploration Council.
Michael Pitt – Non-executive Director
Michael Pitt is the co-founder of New Century Resources (ASX:NCZ), and former VP of business development at Sibanye-Stillwater (JSE:SSW). He currently leads development at Broken Hill Mines. His expertise in mine redevelopment and business strategy supports Pacgold’s long-term operational execution.
Richard Hacker – Non-executive Director
Former CFO and GM commercial at Chalice Mining (ASX:CHN), Richard Hacker played a key role in the Julimar discovery. He has held leadership roles at Liontown Resources and DevEx. Hacker contributes deep experience in financial oversight and strategic planning for discovery-stage companies.
Bruce Kendall – Non-executive Director
Bruce Kendall is an award-winning exploration geologist with over 30 years in exploration management at AngloGold Ashanti, Chalice Mining, Jabiru Metals and IGO. He was a key contributor to the Tropicana, Julimar and Coyote discoveries, and brings essential geological insight to Pacgold’s targeting and evaluation.
Geoff Lowe – Exploration Manager
As a Competent Person and seasoned exploration geologist, Geoff Lowe is responsible for executing Pacgold’s field campaigns. He has played a central role in resource modeling, target generation and drill program design for the Alice River project.
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