New Project for Battery and Strategic Metals in WA and Hopetoun Drill Programme Update

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has acquired a new project prospective for a range of battery and strategic metals located 60 km east of the world-class Greenbushes lithium- tantalum mine (owned by Talison-Lithium Pty Ltd) in the emerging mineral province of south west Western Australia (Figure 1).

• The Dinninup project covers 485 sq km, is located 60 km east of the world-class Greenbushes lithium-tantalum mine and has had no previous exploration except for bauxite.
• Project acquired for $20,000 cash and 3 million options exercisable at 2.4 cents.
• High-priority targets for nickel-copper-Platinum Group Elements (PGM) (3), lithium- caesium-tantalum (LCT) pegmatites (2) and Rare Earth Elements (REE) (4) have been identified in a first-pass soil geochemistry survey that tested geophysical targets.
• Soil anomalies for all metal groups occur over significant areas of at least several hundred metres along the limited soil geochemistry traverse. Further anomalies are expected with more comprehensive coverage of the project area.
• Very high success rate of anomaly identification validates Impact’s targeting methodology.
• Dinninup, together with the flagship Arkun and Jumbo projects, forms the core of Impact’s battery and strategic metals portfolio in WA and the combined projects cover 2,720 sq km of the emerging mineral province of SW Western Australia.
• Follow-up work including field checking and rock chip sampling will commence this Quarter in concert with on-ground work at Arkun, where Land Access Negotiations are ongoing.
• First drill hole at the Silverstar copper-gold-silver prospect at the Hopetoun project intersects a 25 metre thick shear zone with high temperature alteration minerals and minor disseminate sulphides in places together with a 30 cm wide spodumene-bearing pegmatite.
• An extra hole to test the structure up dip will be commenced late next week.

Impact Minerals’ Managing Director Dr Mike Jones said “The Dinninup Project adds further significant value to our early project portfolio in south west Western Australia. Once again, our initial soil geochemistry results indicate untapped potential for a range of battery and strategic metals in this part of the state in an area where there has only been previous exploration for bauxite. The strong lithium anomalies are particularly exciting given our proximity to the world-class Greenbushes mine just 60 kilometres to the east and with similar geology. Together with our flagship Arkun-Jumbo project Impact has identified a significant number of areas for follow up work in the region and we are continuing to negotiate land access agreements to gain access to the priority targets.

“We are also encouraged by our initial drill hole at the Silverstar prospect at the Hopetoun joint venture project. The 25 metre thick shear zone contains significant high-temperature alteration minerals with minor sulphide and, although we were not looking for it, a narrow zone of quartz-tourmaline pegmatite with spodumene crystals. Following our recent announcement of spodumene-bearing veins at the Kalahari prospect the discovery of spodumene at Silverstar several kilometrs away attests to the prevalence of lithium in this area. A second hole will commence in about a week to test the structure closer to surface. In the meantime the core will be logged, cut and sent for assay with results expected in early June. It is a very busy time for Impact” Dr Jones said.

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