The PFS highlights the project's exceptionally strong economics and outlines a pathway for Lake Hope to become a global supplier of low-cost, low-carbon HPA, benefiting both the local Ngadju Aboriginal Native title holders and the broader community. The robust economics stem from the unique characteristics of the Lake Hope deposit, which facilitate cost-effective mining and processing.
The PFS confirms that, to the best of Impact's knowledge based on published data, the Lake Hope project could be among the lowest-cost producers of HPA globally, potentially by a significant margin of at least 30%.
Given these strong fundamentals, Impact will issue 120 million shares, escrowed for 12 months, to exercise its option to acquire an 80% interest in Playa One Pty Ltd, which owns the Lake Hope assets and intellectual property, including two patents for metallurgical processes (ASX Release March 21st 2023).
Work will now commence on a Definitive Feasibility Study (DFS), which will include the construction of a pilot plant to produce HPA samples at scale for discussions on offtake agreements. The pilot plant project, currently underway, will be part-funded by the recent federal government grant awarded to Impact Minerals in collaboration with CPC Engineering and Edith Cowan University (ASX Release October 22nd 2024).
In addition, as part of these studies, Impact will focus on the potential integration of the Lake Hope ore and its associated metallurgical processes with the assets and intellectual property related to the HiPurA process, which were recently acquired through Impact’s 50% share in Alluminous Pty Ltd (ASX Release April 23rd 2025).
As the acquisition occurred near the end of the PFS, the study only pertains to Lake Hope as a stand-alone project and does not consider integration with HiPurA. Impact believes the HiPurA acquisition will accelerate the Company’s entry into the HPA market by several years, potentially enhancing the economics of the combined projects.
Lake Hope PFS Summary
Impact Minerals’ Managing Director, Dr Mike Jones, said, “The Lake Hope PFS clearly demonstrates that Impact Minerals is now on the cusp of delivering a significant, low-cost and highly scalable HPA project. In just over two short years since acquiring the rights to the project, we have proven that Lake Hope’s unique natural feedstock, combined with a straight-forward flowsheet, offers one of the most capital-efficient and environmentally responsible pathways to high-purity alumina production globally. The Project’s strong margins, minimal carbon footprint, and ability to deliver 4N product without critical reagents or complex processing provides us with a clear competitive advantage as the HPA market enters a phase of rapid growth.”
“Importantly, the PFS positions Lake Hope to potentially be the upstream foundation of our vertically integrated HPA business. Through our recent acquisition of a 50% interest in Alluminous Pty Ltd and the HiPurA® downstream processing technology we are now accelerating plans to seamlessly integrate Lake Hope feedstock with HiPurA’s potentially modular HPA production capacity. This unique model offers Impact the flexibility to scale production in line with market demand and customer qualification, while minimising capital intensity and de-risking the path to early revenues.”
“With the PFS now complete, our next steps are clear: we will advance the detailed engineering required to bring Lake Hope into production, which will revolve around our exciting federal government co-funded membrane research project now underway in conjunction with Edith Cowan University and CPC Engineering. We believe very significant improvements to our flow sheet will emerge from that work. We will also progress approvals and initiate off-take discussions. At the same time, we will help fund and rapidly develop the HiPurA® modular production pathway to establish near-term capacity and position Impact as a differentiated, vertically integrated supplier of high-purity alumina to the global market. The opportunities in front of us are significant and today marks a major milestone in what is shaping up to be an exciting future for Impact Minerals and our shareholders.”
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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.
(TheNewswire)
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Vancouver, Canada, June 12, 2025 TheNewswire - Electrum Discovery Corp. (" Electrum " andor the " Company ") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce results of recent ground magnetic survey at its 100% owned Timok East Copper-Gold Project (" Timok East " andor the " Project ") located in the prolific West Tethyan Belt in the Republic of Serbia.
Highlights:
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Dr Elena Clarici, CEO and President of Electrum commented: "The ground magnetic survey has significantly improved our understanding of the structural and geological architecture at Timok East. The results confirm the northward continuation of the Bambino trend, where magnetic highs are spatially associated with copper anomalies in both soil and rock samples, extending into previously untested ground. We are also encouraged by the definition of the Western Mag target, which aligns with key volcanic units and structural features known to host porphyry-style systems in the region. The identification of a new magnetic anomaly along a limestone–sandstone boundary, with no history of exploration, presents an exciting new target. These findings will guide our next phase of fieldwork and targeting as we continue to advance the Timok East project."
The ground magnetic survey covered 59 square kilometres across the Makovište and Luka licences, comprising a total of 280 line-kilometres. Line-spacing was 300 meters with more detailed 150 meter line-spacing over prioritized target areas (see Figure 1).
Click Image To View Full Size
Figure 1: RTP Total Magnetic Intensity – Analytical Signal map of Timok East with Copper-in-soil and rock chip anomalies, showing Bambino Trend, Western Mag, and Limestone Contact target (EPSG:32634) (rock and soil results from News Releases 30 th October 2024 , , and April 16 th 2025 ).
Initial interpretation of the data highlights several key trends and targets:
Bambino Trend
A prominent magnetic-high anomaly extends northward from the Bambino area, coinciding with zones of elevated copper in soil and copper, gold, and silver in rock samples along a NNW trending structurally controlled corridor. The anomaly intensifies toward the north, coinciding with the Northern Skarn target and continuing beyond the limits of current exploration into the Luka area (see Figure 1). Further north, the magnetic response strengthens across mapped lithological boundaries, indicating that the anomaly is not solely attributable to lithological contrast, but may reflect magnetite-bearing hydrothermal alteration (see Figure 2). This magnetic feature supports the potential for a wider zone of magnetite enrichment potentially related to widespread skarn-style or intrusion-related alteration along the entire Bambino trend.
Western Mag Target
The ground magnetic survey has provided additional resolution to regional datasets, refining the geometry and structure of the Western Mag target. The anomaly is defined by a segmented magnetic high extending along a major NNW-trending corridor coinciding with Phase 1 andesitic volcanic rocks along a regional extensional fault— a geological setting that hosts several major porphyry copper deposits within the Timok region. The magnetic response includes multiple linear highs that may correspond to magnetite-bearing alteration zones or magnetite bearing phase one andesites, consistent with the potential for skarn or porphyry-style mineralisation. Structural intersections along the corridor provide additional to prioritise follow-up exploration.
New Limestone BoundaryTarget
A newly defined linear magnetic-high anomaly has been delineated along the westerly dipping contact between Jurassic limestones and Palaeozoic conglomerates and sandstones. This feature coincides with a geologically favourable setting for skarn or carbonate replacement (CRD) style mineralisation. With no recorded historic exploration in this area, it represents a high-priority target for follow-up fieldwork (see Figures 1 & 2).
Data Integration and Target Refinement
3D inversion of the magnetic data is under way and will be integrated with previous geophysical, geological and geochemical datasets to improve subsurface understanding and assist in refining priority targets ahead of follow-up field programs.
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Figure 2: Geological map of the southern Timok East licences showing Copper anomalies, major lithologies, fault structures, and magnetic targets (EPSG:32634) (rock and soil results from News Releases , 4 th September 2024 , 3 rd July 2024 and April 16 th 2025 ).
Qualified Person
The scientific and technical contents of this news release have been reviewed and approved by Mr. Thomas Sant BSc, FGS, CGeol, EurGeol. Mr. Sant is a non- independent Qualified Person as defined by NI 43-101 and the VP, Operations, of the Company.
About Electrum Discovery Corp.
Electrum Discovery Corp. is an emerging mineral exploration and development company focused on the prolific Western Tethyan Belt with two main projects spanning 645 square kilometers of prospective exploration ground in the Republic of Serbia.
Timok East extends over 123 square kilometers across the Timok copper-gold region, includes multiple copper-gold targets and mineralized trends, and is located less than five kilometers from the Bor Mining Complex.
Novo Tlamino , located in the south-east of the Republic of Serbia, covers 522 square kilometers and includes an inferred mineral resource estimate of 670,000oz AuEq (7,100,000t at 2.9 g/t AuEq average grade), PEA (January 7, 2021) 1
Electrum Discovery is looking to maximize the value of our mineral projects for all stakeholders including our shareholders, the local community and government. We have an open-door policy and encourage all stakeholders to contact us through our website. We have a strong environmental and ethics policy to complete all our work in line with regulations in an open and transparent process. Our projects are at an early stage, and we plan to continue our consultation with all stakeholders in a climate of mutual respect, while fostering sustainability, governance, and knowledge transfer in the region.
Additional information on Electrum can be found by reviewing the Company's page on SEDAR+ at www.sedarplus.ca .
For more information contact:
Dr Elena Clarici, Chief Executive Officer and Director
T : +1 604 801 5432 | E : elena@electrumdiscovery.com | W : electrumdiscovery.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information. Such statements include Company's expected achievement of specified milestones, results of operations, and expected financial results of the Company. Often, but not always, this forward-looking information can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Electrum, to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, uncertainties inherent in the PEA and exploration results and the estimation of mineral resources; risks related to the failure to obtain adequate financing on a timely basis and on acceptable terms; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Electrum's quarterly and annual filings with securities regulators and available under Electrum's profile on SEDAR+ at www.sedarplus.ca . Rock chips and surface results are early stage and there is no assurance that future exploration will find mineralization of further interest. Although Electrum has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein is based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and Electrum disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
1 Preliminary Economic Assessment and NI43-101 Technical Report for the Medgold Tlamino Project, January 7, 2021, www.sedarplus.ca . The effective date of the resource estimate is January 7, 2021. Authors of the Reports are: Mr. Richard Siddle, MAIG, of Addison Mining Services Ltd for Mineral Resources; Dr. Matthew Randall, FIMMM, of Axe Valley Mining Consultants Ltd for Mining; Mr. Ian Jackson, FIMMM, of Bara Consulting for Mineral Processing, and Dr. Andrew Bamber, MCIM, of Bara Consulting Ltd for Economic Analysis.
The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realised.
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Transaction Terms
Pursuant to the Agreement, Teck Chile has been granted options, to earn up to a 75% interest in Loreto by making US$600,000 in staged cash payments and spending US$17m on exploration.
First Option
Asara has granted Teck Chile an option to acquire a 55% interest in Loreto (the First Option). Teck Chile may exercise the First Option by incurring an aggregate of US$5,000,000 in expenditures on Loreto and by making US$600,000 in cash payments to Asara as set out in the schedule below. The dates for remaining payments, are tied to the Permit Date.
Second Option
If Teck Chile exercises the First Option, Teck Chile shall have a further option to acquire an additional 20% interest in Loreto, by incurring an additional US$12,000,000 in expenditures over the ensuing four-year period (the Second Option).
Loreto Project Litigation
As announced on 8 May 2025, Asara successfully concluded legal proceedings brought against the Company as outlined in its ASX Announcement dated 15 November 2023. As part of the settlement, Asara was required to sell 25.26% of its interest in the Loreto Project to Costa Rica Dos SpA (Costa Rica Dos) for approximately A$87,122 with payment to be made through future profits generated in the context of the Agreement with Teck Chile. Accordingly, Asara is not required to remit the requisite portion of the recent payment to Costa Rica Dos.
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This article includes content from Asara 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.