Impact of drilling evidenced by Arkun expansion

Impact Minerals (ASX:IPT) has ‘significantly’ expanded its Arkun Strategic and Battery Metals Project in Western Australia directly to the north after applying for 3 new exploration licences. 

The $40.1 million market capitalisation company says the new licences cover a total landholding of 720km-square and share a similar geology to, and are along strike from, the ‘large’ and ‘significant’ soil geochemistry anomalies recently identified for rare earth elements (REEs) at the Hyperion, Swordfish, and Horseshoe prospects. 

The licences are along trend from the copper-bismuth-cobalt at the Caligula prospect. There has been no ‘significant’ previous exploration of the new licences to date, but are considered highly prospective for a range of strategic and battery metals, including REEs and copper-nickel sulphides.

As Managing Director Dr Mike Jones tells Mining.com.au in a recent interview: “We set Impact up to find a world-class orebody.”

According to Impact, the new tenure hosts 2 ‘significant’ electromagnetic (EM) conductors which were flagged in government airborne EM lines that have never been drill tested. Therefore, these are priority areas for follow-up work. 

With the addition of the 3 licences, Impact now holds a strategic ground position that covers 120km of the trend of the Corrigin Tectonic Zone, which marks a ‘major’ crustal boundary between the South West and Youanmi Terranes of the Yilgarn Craton.   

Meanwhile, soil geochemistry surveys are ongoing in the north and west parts of Arkun. 

Jones says the company is also looking ahead to a maiden drilling program at Arkun in early Q2 this year, with the approvals process “well advanced”.  

“After the recent significant breakthrough in the soil geochemistry programs that discovered our Hyperion and Caligula prospects, we have been able to expand our strategic ground holding in the emerging mineral province of the southwest Yilgarn province in Western Australia. 

The new applications contain strike extensions and similar geology to our newly discovered prospects and are easily accessible, allowing us to start groundwork directly following the usual land access negotiations.”

The drilling program will test the Hyperion REE target, as well as an EM anomaly at the Three Eagles and possibly the Caligula and Beau targets if land access is granted. 

In early January, Impact announced the discovery of a “very significant” rare earth anomaly at Arkun’s Hyperion prospect, based on earlier soil sampling activities which identified anomalism covering at least 3km-square and measuring up to 5,880 parts per million (ppm) total rare earth oxides and yttrium (TREO+Y), as reported by Mining.com.au

In its announcement, Impact said the new anomalies add to a larger 10km-long anomaly previously found at the Horseshoe prospect some 25km to the east, while another TREO+Y anomaly was uncovered at the Swordfish prospect, 10km south-east of Hyperion.

A separate announcement later the same month heralded a major copper soil anomaly at Arkun’s Caligula prospect, which Impact said at the time is testament to “the significant exploration potential for a range of battery and strategic metals at the Arkun Project.”

“Rare earths and copper are the two dominant things there. We do have some gold anomalies, there are some lithium anomalies, but I think those are a bit of a furphy. Nobody’s really found any significant lithium yet out in the wheatbelt. We might be the first, but we’re not making a big deal of it,” Jones said.

“But Arkun is a very grassroots project with many geochemical anomalies. We’ve done two airborne geophysical surveys and lots of geochemistry. We’re still collecting samples now, so it’s a very active project.”

Given the ongoing focus on the Lake Hope High Purity Alumina Project and Arkun, a review of Impact’s other projects in the Wheatbelt is underway. 

Impact Minerals is an explorer which manages ‘extensive’ tenement holdings within Australia. 

Write to Adam Drought at Mining.com.au

Images: Impact
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.