Impact Minerals says 2022 is shaping up to be the busiest and most drill intensive year since its listing, with potential company-making discoveries to be drill tested for the first time.
Managing director Dr Mike Jones says Impact was founded to discover a world-class deposit – and that’s the target of exploration plans across four new WA joint ventures which are all prospective for nickel-copper-PGM and lithium.
“Our recent significant expansion of our WA ground holding is part of a pivot in focus from the eastern states to WA,” says Dr Jones.
“The company has just been drilling at Hopetoun, one of our new joint venture projects and prospective for gold-copper and base metals,” he said.
“Although we had difficulties with the ground conditions we have seen enough encouragement to want to return there as soon as we can with an appropriate rig in 2022. In the meantime the rig will move to our Doonia project only 25 km east of the recent Burns discovery to drill a large gold-bismuth soil geochemistry anomaly. This programme will commence in early January and so we will only be taking a short time off over the festive season.
“In addition, follow up work at our 100% owned Arkun Ni-Cu-PGM project will definitely generate a significant number of drill targets that will be tested later in 2022.”
Exposure to green energy
Dr Jones said Impact Minerals (ASX:IPT) is increasingly focused on nickel-copper-PGM-gold exploration and is confident this combination of metals gives it exposure to the green energy space.
Plus, it provides a hedge against increasing inflation which is now positively affecting the price of precious metals.
“Government mandated decarbonisation together with on-going global monetary problems will underpin continuing price rises of all these metals,” he said.
Broken Hill JV with IGO
As part of the pivot in focus, in November Impact secured an $18 million JV with IGO (ASX:IGO) to earn into the Broken Hill nickel-copper-PGM project in NSW.
“This is a significant JV with one of Australia’s leading and innovative mining and exploration companies and demonstrates that Impact’s project generation strategy is paying off by being able to attract major companies to its projects,” Dr Jones said.
The company also divested part of its eastern states portfolio with the sale of the Clermont gold project in Queensland for 1M shares in Australasian Gold (ASX:A8G).
Impact also sold two tenements within the Commonwealth project in the Lachlan copper-gold province for $180,000 cash and $50,000 in shares in recently listed Orange Minerals (ASX:OMX). The remainder of the eastern state’s portfolio is also under review by a number of companies.
This article was developed in collaboration with Impact Minerals Limited, 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.