Impact Minerals Enters New Eastern Goldfields Gold JV

THE BOURSE WHISPERER: Impact Minerals (ASX: IPT) advanced its project portfolio with the inclusion of an 80 per cent-interest in a Joint Venture over the Doonia project located 75 kilometres east of Kambalda, in Western Australia.

Doonia was brought to Impact’s attention by its consultants Milford Resources Pty Ltd and new JV partner Odette Resources Pty Ltd.

These companies had recognised Doonia as a large but poorly tested gold-in-soil anomaly that was unpegged.

Impact has submitted a tenement application to cover the target area and will enter into an 80-20 unincorporated JV with Odette Resources Pty Limited upon grant.

“Doonia is a highly prospective addition to our exploration portfolio and we acted very quickly when alerted to the opportunity,” Impact Minerals managing director, Dr Mike Jones said in the company’s ASX announcement.

“We now have an exploration project with excellent indications for the discovery of a significant gold deposit with a target that is already well defined, easily manageable and cheap to test.

“The large surface geochemistry gold anomaly has been very poorly drilled and we will endeavour to do that as quickly as practicable after our tenement is granted early in 2021.”

Doonia had been identified following a review of the Eastern Goldfields for intrusion-hosted gold deposits in light of the Hemi discovery in the Pilbara, a major gold deposit hosted by felsic intrusions recently outlined by De Grey Mining (ASX: DEG).

“The recent discovery at Hemi is a classic example of ‘you don’t find what you don’t look for’, where for decades it was considered that a deposit of that size and scale was unlikely to be found in the Pilbara Craton,” Jones said.

“There is a good chance that Doonia may also be an ‘out-of-the-box’ discovery.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@impactminerals.com.au

 

Web: www.impactminerals.com.au