Impact Minerals applies for three exploration licences that could host extensions to REE and copper anomalies at Arkun
Licences also host two significant EM conductors considered priority areas for follow-up work
Approvals and land access sought for maiden drill program targeting Hyperion and other targets in the next quarter
Special Report: Impact Minerals has submitted three exploration licence applications to capture potential strike extensions of newly discovered rare earth and copper anomalies at its Arkun project in Western Australia.
The nearly 2,000km2 Arkun project is 150km east of Perth and has demonstrated potential for rare earth element mineralisation, copper-nickel-lithium and gold.
In early January, soil sampling by Impact Minerals (ASX:IPT) uncovered REE anomalism of up to 5,880ppm (0.59%) total rare earth oxide (TREO) and NdPr of up to 21% within a 3km2 area.
This new Hyperion anomaly is a potential clay-hosted deposit and adds to the strong results from the nearby Swordfish and Horseshoe prospects, the latter a 10km-long REE anomaly about 25km east of this new find.
Later in January, the company identified the large 5km by 1km Caligula target for copper and possibly gold mineralisation.
It could be the first of multiple deposits, as there are at least a dozen similar areas to follow-up.
Regional airborne magnetic data over Arkun and the three new licence applications. Pic: Supplied (IPT)
A bigger search space
IPT has now submitted three exploration licence applications immediately north of the Arkun project along trend from the Hyperion, Swordfish and Horseshoe REE anomalies, as well as the Caligula copper anomaly.
The new licences share similar geology and cover 720km2, taking Arkun up to 2,900km2 in the emerging mineral province in southwest WA.
Additionally, these licences are considered to be highly prospective for a range of strategic and battery metals, including REE and copper-nickel sulphides.
Two significant electromagnetic conductors identified in government airborne EM lines never previously drill-tested have also been ranked as priority areas for follow-up work.
“After the recent significant breakthroughs in the soil geochemistry programs that discovered our Hyperion and Caligula prospects, we have been able to expand our strategic ground holding in the emerging mineral province of the southwest Yilgarn province in Western Australia,” IPT managing director Dr Mike Jones said.
“The new applications contain strike extensions and similar geology to our newly discovered prospects and are easily accessible, allowing us to start groundwork quickly following the usual land access negotiations.
“We are also looking forward to our maiden drill program at Arkun early in the next quarter and are well advanced in the approvals process and securing the appropriate drill rig.”
Other activities on the horizon
IPT is progressing statutory approvals and land access agreements for a maiden drill program at Hyperion and other targets.
Soil geochemistry surveys are also ongoing in the north and west parts of Arkun.
Reconnaissance work including field checking and rock chip sampling along gazetted roads and tracks will be carried out on the three new licence applications.
This article was developed in collaboration with Impact Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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