THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) has acquired a new project it considers prospective for a range of battery and strategic metals sitting close to the Greenbushes lithium-tantalum mine in the southwest Western Australia.
As consideration for a 100 per cent interest in the project, Impact has paid $20,000 cash to the vendor, and will issue three million unlisted options exercisable at 2.4 cents with a three year term.
The Dinninup project comprises four exploration licences covering about 485 square kilometres (E70/5842, E70/6111, E70/6112 and E70/6113).
As part of its due diligence process, Impact utilised in-house geophysical data to identify several areas of interest for follow up.
New targets identified at Dinninup, include: three new priority nickel-copper-platinum group elements (PGE)-gold targets; two lithium-caesium-tantalum targets; and four rare earth elements (REE) targets.
“The Dinninup project adds further significant value to our early project portfolio in southwest Western Australia,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.
“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.”