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. ”

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THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has the tools out for commencement of an aircore drilling program at the Hyperion rare earth element (REE) prospect, part of the company’s 100 per cent-owned Arkun project in the southwest of Western Australia.

Impact Minerals will be drilling approximately 40 holes for 2000 metres to test a previously identified REE soil geochemistry anomaly at Hyperion.

The company has earlier reported results of up to 5,880 parts per million (ppm) total rare earth element oxides and yttrium (TREO +Y), which it claimed as some of the highest TREO-in-soil results reported recently in Western Australia.

Other REE soil geochemistry anomalies have been identified at the Swordfish and Horseshoe targets.

Impact has defined an area over three square kilometres at greater than 1,000ppm TREO+Y at Hyperion.

Gathered data indicates Hyperion to hold potential to be a very large target for clay-hosted REE mineralisation immediately below the laterite cap, which is only a few metres thick in most places making it a priority area for drilling.

“The discovery of the Hyperion REE prospect was a significant breakthrough in exploring the Arkun project, and we are eager to drill test the anomaly to assess the depth extent of the weathered clay that may host the REE mineralisation,” Impact Minerals managing director Dr Mike Jones said in the company’s ASX announcement.

“The key to an economic discovery is to evaluate how easily the REEs can be extracted through simple acid leaching of clays and, so we will be sending samples for preliminary test work as quickly as possible.

“Given this is the first-ever drill program at Arkun, and that several other significant REE anomalies remain to be tested at Arkun, for example Swordfish and Horseshoe, the extraction characteristics will have an important bearing on any future resource definition drilling.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE