Impact Minerals Identifies Major Drill Targets at the Caligula Prospect

THE DRILL SERGEANT: Impact Minerals (AX: IPT) has identified a new nickel-copper-palladium-platinum-gold-in-soil anomaly within the eastern part of the Caligula prospect at the company’s 100 per cent-owned Arkun project located just outside Perth in Western Australia.

Impact Minerals had previously identified Caligula as a large copper-dominated soil geochemistry anomaly over approx. 5,000m north-south and at least 2,000m east-west based on broad-spaced sampling.

Associated metals include silver, tellurium, bismuth, and molybdenum, indicating potential porphyry-style copper mineralisation.

The company explained the new, better-defined anomaly it has identified is situated along the eastern margin of the original Caligula anomaly.

The new target was identified via ongoing analysis of soil geochemistry results, regional magnetic and gravity data, as well as Mobile Magnetotelluric (MMT) and Electromagnetic (EM) data from airborne surveys.

“Our focus over the past 12 months has been on the Pre-Feasibility Study for the Lake Hope High Purity Alumina project, which is nearing completion,” Impact Minerals managing director Dr. Mike Jones said in the company’s ASX announcement.

“In the background, we have been developing the Caligula target for a maiden drill program, which will be partially funded by the $180,000 EIS grant we received last year.

“We hope to deliver another discovery in the emerging mineral field of the South West Yilgarn.

“The strong correlation between elevated palladium, platinum, and gold-in-soil anomalies and key geophysical conductors identified in our previous ground-breaking MMT and EM surveys highlights the compelling targets we plan to drill soon after the closure of the current renounceable rights issue on March 21st.

“I encourage all shareholders to participate in the issue to fund the completion of the Lake Hope PFS and this exciting drill program at Arkun. ”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE