Join our daily newsletter At The Bell to receive exclusive market insights
- Impact Minerals (IPT) identifies new targets at the Jumbo joint venture project, which is adjacent to its wholly-owned Arkun project in southwest WA
- The company undertook its first ever soil geochemistry survey at Jumbo, which it’s earning an 80 per cent interest in, which generated multiple battery and strategic metal targets
- Impacts says it’s particularly excited about the elevated rare earth element and rubidium anomalies due to the recent prices in these markets
- Follow-up activities such as field work and sampling is planned for the June quarter
- Company shares are trading flat at 1.5 cents
Impact Minerals (IPT) has identified high-priority targets at the Jumbo joint venture project, which is adjacent to its Arkun project in southwest Western Australia.
The targets were generated through new soil geochemistry results from Impact’s first-ever soil geochemistry survey at the Jumbo project.
Impact is earning up to an 80 per cent interest in the Jumbo project, which has reportedly never been drilled. Combined with its wholly-owned Arkun asset, the two projects cover 2260 square kilometres in an emerging mineral province.
The new targets include three nickel-copper-platinum group element (PGE)-gold targets, two lithium-caesium-tantalum priority targets, and three rare earth element (REE) targets. In addition to these, extensive areas of anomalous rubidium were identified.
According to the company, soil anomalies for all metal groups occur over areas of at least several hundred metres along the limited reconnaissance soil geochemistry traverses.
“These soil results further confirm that Impact has secured a large and very prospective part of the emerging mineral province of southwest WA which already contains the recent Julimar nickel-copper-PGM discovery and the Greenbushes lithium-tantalum mine, both world-class deposits,” IPT Managing Director Mike Jones said.
“We are particularly excited about the elevated REE and rubidium anomalies, given the recent positive price action in these markets,” Dr Jones added.
In the upcoming quarter, Impact Minerals will conduct follow-up work such as field checking and rock chip sampling at Jumbo alongside ground work at the Arkun project.
Company shares were trading flat at 1.5 cents at 1:00 pm AEDT.
-1200x645-380x200.jpg)
