Impact Minerals (ASX:IPT) is identifying parts of the Caligula prospect as a possible host for high-grade nickel-copper-platinum group mineralisation akin to Nova-Bollinger or Julimar.
Impact will drill test the target in the next quarter and will utilise funds from the $180,000 exploration incentive scheme grant grant to partially finance the work (the grant is dollar-for-dollar).
Two deep drillholes are planned to test the mobile magnetotelluric (MMT) conductor and electromagnetic (EM) anomalies that underlie the strong soil geochemistry.
Further target generation is ongoing, which may also be incorporated into the drill program.
The company has identified a nickel-copper-palladium-platinum-gold in soil anomaly within the Caligula prospect at the Arkun Project in Western Australia.
The anomaly, which was uncovered via infill soil geochemistry assays, is coincident with a prominent MMT conductor and EM conductor identified from airborne geophysical surveys.
Managing Director Mike Jones says the company hopes to deliver another discovery in the emerging mineral field of the South West Yilgarn.
“The strong correlation between elevated palladium, platinum, and gold-in-soil anomalies and key geophysical conductors identified in our previous ground-breaking MMT and EM surveys highlights the compelling targets we plan to drill soon after the closure of the current renounceable rights issue on 21 March,” Jones says.
In late February, Mining.com.au reported Impact was conducting a two-for-seven renounceable rights issue to raise up to $5.2 million for development work at the Lake Hope High-Purity Alumina Project in Western Australia.
The Arkun Project, covering 850km2, is centred between York and Corrigin, 100km east of Perth, Western Australia. The project was first identified as an area of anomalous nickel-copper-gold anomalies in publicly available regional geochemistry datasets.
Impact Minerals is an Australian explorer focused on establishing itself as a key player in the high-purity alumina industry via its Lake Hope Project.
Over the past 12 months, the company has been focusing on delivering the Prefeasibility Study for the project, which is nearing completion.
Write to Aaliyah Rogan at Mining.com.au
Images: Impact Minerals
