Impact Minerals (ASX:IPT) is seeking approval for drilling at its Arkun Project in Western Australia, after securing a $180,000 grant from the Western Australian Government.
Impact, which has a $54.42 million market capitalisation, says statutory approvals include land access negotiations with landowners.
However, due to the ongoing wheat farming season, Impact says the timing of the program may be affected.
The $180,000 grant was secured under the WA Government’s Exploration Incentive Scheme. The funds will be used to drill a copper target identified in soil geochemistry data and mobile magneto-telluric data at Caligula.
Caligula represents a multi-commodity anomaly containing — in various concentrations — copper, silver, cobalt, and tellurium-bismuth-molybdenum mineralisation.
Infill and extensional soil geochemistry surveys have been completed to help define specific targets ahead of drilling, with assays due this quarter.
Managing Director Mike Jones says the grant validates the company’s exploration programs at Arkun over the past few years.
“Caligula is one of the many geochemical and geophysical targets we have at the project and so the information we will gain from the proposed drill program will add immensely to our knowledge of this poorly exposed and poorly explored area,” Jones says.
Meanwhile, the company has completed an aircore drilling program at the Hyperion prospect, which also forms part of Impact’s broader Arkun Project.
Hand-held XRF data is being interpreted to help select samples for assaying, with results expected later this quarter.
Arkun is located about 200km southeast of Perth and comprises eight tenements covering 2,600km2 between the towns of Quairaiding and Brookton.
Caligula is 15km west of the Hyperion prospect and was first identified as one of 17 areas of interest at Arkun.
Impact is scheduled to attend this year’s RIU Sydney Resources Round-up at Darling Harbour’s Hyatt Regency Hotel on 8 May 2024. The three-day event will begin on 7 May and will conclude on 9 May.
Mining.com.au is this year a media partner of the event.
Last year’s RIU Sydney Resources Round-up attracted more than 1,500 delegates, making it the busiest since its inception in 2004.
With over 800 of last year’s delegates coming from the investor or broker/fund categories, the conference offers investors engagement opportunities.
Write to Adam Drought at Mining.com.au
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