Impact Minerals Awarded EIS Funding of $180,000 for Drilling at Caligula

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has scored $180,000 under the WA Government’s Exploration Incentive Scheme to co-fund drilling at the company’s 100 per cent-owned Arkun project in Western Australia.

Impact Minerals will use the funds for drilling of the Caligula copper prospect at the Arkun project.

The Caligula prospect comprises a large soil geochemistry anomaly coincident with several conductors identified via helicopter-borne Mobile Magneto-Telluric (MMT) data that the company believes may represent disseminated or massive sulphides.

“This award validates our exploration programs at Arkun over the past few years,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“Caligula is one of 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.

“We will now start the statutory approvals process for the drilling.

“We have just completed our maiden drill programme at Hyperion to test for Rare Earth Elements and are interpreting the handheld XRF data to select samples for assaying, and we are looking forward to those results.”

Impact recently carried out a follow-up infill and extensional soil geochemistry survey to help define the full extent of the Caligula anomaly and help identify specific drill targets.

Caligula is the first of the four areas to be more fully defined by detailed soil geochemistry surveys, producing encouraging results for further work on the other partly tested and untested anomalies within the Arkun project.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE