- Impact Minerals (IPT) finds lithium at its Hopetoun project near Ravensthorpe in WA, saying it is the first-ever lithium to be identified in the project area
- The company says its sampling work has uncovered lithium-bearing spodumene in pegmatite veins at the project’s Kalahari prospect
- Impact suggests the Hopetoun area may be an extension of the Ravensthorpe greenstone belt to the north, which hosts several lithium deposits
- Impact has lodged an application for a new exploration licence to cover part of the Jerdacuttup Fault and the southern extension of the Ravensthorpe belt
- IPT shares up 7.14 per cent to 1.4 cents
Junior explorer Impact Minerals (IPT) has found lithium at its Hopetoun project near Ravensthorpe in WA.
The company said it was the first time lithium had been identified in the project area.
Impact said its sampling work uncovered lithium-bearing spodumene in pegmatite veins at the project’s Kalahari prospect.
Managing Director Mike Jones said the find was an “exciting development” for the company and its joint venture (JV) partners at Hopetoun. Impact is earning an 80 per cent interest in the Hopetoun project alongside Octo Resources.c
“Most of the previous work in the area has been focused on the precious and base metal potential of the Albany Fraser belt given it is the host to the Nova-Bollinger deposit,” Dr Jones said.
“It is possible, however, that the belt also may host significant lithium and rare earth deposits and we look forward to the assay results from our initial samples.
“In the meantime, we will extend our soil geochemistry surveys over more of the project area to define areas for follow-up work.”
According to Impact, the Hopetoun area may be an extension of the Ravensthorpe greenstone belt to the north, which is home to several lithium deposits.
The company has lodged an application for a new exploration licence to cover part of the Jerdacuttup Fault and the southern extension of the Ravensthorpe greenstone belt, which would expand its Hopetoun JV ground-holdings to 185 square kilometres.
IPT shares were up 7.14 per cent to 1.4 cents at 1:03 pm AEST.