WELCOME TO IMPACT MINERALS LIMITED
Impact Minerals Limited is an exploration company listed on the ASX in November 2006.
The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM’s.
The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management.
Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
Four exploration projects with numerous, high-grade targets progressed to active drill testing.
All projects located within Australia (NSW, QLD, WA), one of the world’s most stable jurisdictions.
Gold, silver and base metal resources identified near existing mining infrastructure in NSW.
Strong cash position with solid backing to advance prospects to resource definition.
COMMONWEALTH GOLD SILVER-BASE METAL PROJECT (100% IPT)
The Commonwealth Project comprises 1,000 km2 of exploration licences located 100 km north of Orange, NSW. The exploration project is focused on the Lachlan Fold Belt, host to the Cadia-Ridgeway mining centre (25 million ounces of gold and 5 million tonnes of copper) and the historic (circa 1845) Copper Hill deposit (1.5 million ounces of gold and 0.5 million tonnes of copper).
Work by Impact at the Commonwealth prospect in 2014 outlined a maiden Inferred Resource (JORC 2012 Code) of 720,000 tonnes at 2.8 g/t gold and 48 g/t silver centred on historic underground workings at the Commonwealth “Main Shaft”. Mineralisation extends over 400 m strike length, up to 25 m width and contains a high-grade core of massive sulphides.
Current exploration is focused on immediate additions to existing resources including:
- The depth projection of the massive sulphide lens at Main Shaft beyond a bonanza drill intersection of 7 metres at 6.3 g/t gold, 496 g/t silver, 7.2% zinc, 2.9% lead and 0.2% copper from 91 metres in CMIPT031, along with strike and depth extensions of the Inferred Resource envelope.
- A new discovery at the Silica Hill prospect (located 200m northeast of Main Shaft) where drill hole CMIPT046 intersected 41.3 metres at 2.0 g/t gold and 176 g/t silver from 61 metres.
- A new discovery at the Walls prospect (located 1,200m east of Commonwealth Main Shaft) where CMIPT027 intersected 20 metres at 0.5 g/t gold, 27 g/t silver and 1.1% zinc.
- Several geophysical anomalies associated with a circular copper zinc-lead-gold-in-soil anomaly measuring up to 1 km in diameter.
- Gold-in-soil anomalism identified to the north of a historic drill intercept of 20 m at 44 g/t silver.
- Recent mapping and sampling indicates 1 km long alteration zone associated with high grade mineralisation up to 15 g/t gold and 600 g/t silver in surface sampling.
The company recently increased its landholdings in NSW and continues to build its exploration model outwards from its existing prospects to target two types of deposits:
- Volcanogenic Massive Sulphide e.g. Woodlawn – 7 million ounces gold equivalent
Intrusive-Related Copper-Gold e.g. Cadia-Ridgeway – 25 million ounces gold and 4.9 million tonnes copper
BROKEN HILL Ni-Cu-PGE PROJECT (100% IPT)
* In 2016, Impact re-negotiated an associated JV with Silver City Minerals for Broken Hill-style mineralisation which entitles Impact to 100% of the PGE-copper-nickel mineralisation and 80% of Broken Hill-style zinc-lead-silver mineralisation within EL7390.
The Broken Hill Project comprises two granted exploration licences (EL7390 and EL8234) and two exploration licence applications (ELA5793 and ELA5265) that cover 517 square kilometres near Broken Hill, NSW. The project is prospective for both nickel-copper-PGE mineralisation associated with ultramafic rocks and zinc-lead-silver in “Broken Hill-style” deposits hosted mostly by metasedimentary rocks and amphibolite.
Impact has recently reported several significant high grade drill results from at least three prospects:
- The Red Hill prospect features Impact drill hole RHD012, which recorded a bonanza drill intersection of 3.5 metres at 5 g/t platinum, 6 g/t gold, 144 g/t palladium, 2.9% nickel, 2.3% copper and 14.5 g/t silver in heavy matrix sulphide.
- The Platinum Springs prospect revealed high grade massive nickel-copper-PGE sulphides with drill hole PSD02 intersecting 2.75 metres at 3.5 g/t platinum, 7 g/t palladium, 0.4 g/t gold, 2% copper, 1.9% nickel and 11.6 g/t silver from 55 metres down hole.
- The Dora East prospect represents a new discovery of high grade zinc-lead-silver mineralisation with RHD018 intersecting 5.1 metres at 10% zinc, 0.8% lead, 40.4 g/t silver from 148.4 metres in massive and disseminated sulphides. Recent detailed mapping and interpretation of geophysical data by Impact indicates that Dora East may form within a large fold structure in a similar fashion to lodes at Broken Hill.
Impact’s exploration results to date indicate the potential for a platinum mineralisation stretching over a 40 km belt of mafic-ultramafic rocks within the richly-endowed Curnamona Craton. The mafic intrusions are dated circa 820 Ma and appear coeval with a major global nickel-mineralising event which includes the world-class Jinchuan nickel-copper deposit in China.
Numerous surface gossans have produced some of the highest platinum and palladium grades in Australia which the Company intends to test with more drilling in 2017. Surface rock samples at the Morrkai prospect assayed up to 27.8 g/t platinum, 6.0 g/t palladium, 0.5% copper, and 0.9% nickel and samples at Round Hill assayed up to 1.0 g/t platinum, 9.4 g/t palladium, and 7.7% copper.
MULGA TANK Ni-Cu-PGE PROJECT (100% IPT)
Impact owns thirteen granted exploration licences, located 200 km east of Kalgoorlie, WA, that cover 425 km2 of the Minigwal greenstone belt in the southeast Yilgarn Craton.
Impact has identified three styles of nickel sulphide mineralisation within the Mulga Tank Dunite and surrounding rocks:
- High grade veins in the basal adcumulate layer of the Mulga Tank Dunite with drill results of: 0.25 m at 3.8% nickel, 0.7% copper and 0.7 g/t PGE and 0.3 m at 0.7% nickel;
- High grade nickel sulphide in multiple komatiites within a flow channel featuring drill results of: 0.75 m at 0.85% nickel, 0.35% copper and 0.28 g/t PGE (Pt+Pd+Au); and
- Disseminated nickel in the Mulga Tank Dunite with drill results of 115 m at 0.3% nickel, 21 m at 0.4% nickel and 59 m at 0.3% nickel.
The style of mineralisation and the nature of the ultramafic rocks are similar to those that host the significant nickel deposits elsewhere in the Yilgarn Craton, for example, Perseverance (45 Mt at 2% nickel), Rocky’s Reward (9.6 Mt at 2.4% Ni) and Mt Keith (>2 Mt contained nickel)).
Exploration for nickel and gold is continuing with the completion of three major geophysical and geochemical surveys (airborne magnetic and radiometric survey covering most of the project area, an innovative combined ground and airborne electrical survey (HeliSAM) over the Panhandle and Mulga Tank Dunite prospects, and collection of 2,500 soil samples for geochemistry).
New data has greatly improved the geological understanding of the entire project area and in particular over the Mulga Tank Dunite where individual geological layers can now for the first time be mapped out beneath 50m of sand cover.
In the June Quarter 2016 Impact was awarded a grant of $150,000 as part of the Western Australian Government’s Exploration Incentive Scheme (EIS) for drilling at the Mulga Tank Project. The EIS is a cofunding initiative for exploration in under-explored areas of WA and awarded on a dollar-for-dollar basis for direct drilling costs. The program is designed to encourage innovative exploration and prioritised high quality, technically sound proposals that demonstrate new exploration concepts.
CLERMONT Au-Ag-Cu PROJECT (100% IPT)
Impact holds one Exploration Licence in Queensland (EPM 14116) located about 20 km southeast of Clermont. One third of the area is interpreted to be underlain by prospective “Cycle 1 Volcanics” beneath an extensive cover of younger rocks and regolith. Black soil cover has hindered previous conventional soil geochemistry surveys and several erratically-distributed anomalous gold values are yet to be drilled.
Retro, Retro Extended and Nanya are Impact’s three prospects at Clermont featuring rubbly outcrops of breccia and vein quartz sub-cropping within black soil plains. Silica-pyrite-sericite alteration appears widespread and rock chip results along strike from quartz veins have returned values up to 4.5 g/t gold.
Some drilling has been undertaken by previous explorers at the Retro and Retro Extended prospects along the 10 km long north east trending Retro Fault. Historic intercepts of interest include:
- 2 m at 13.7 g/t gold from 34 m in hole RRC11; and
- 4 m at 1.1 g/t gold from 18 m, and 2 m at 2.5 g/t gold from 42 m in drill hole RRC09.
Drilling by Impact at Retro Extended confirmed gold mineralisation within the Retro Fault containing significant high-grade silver and base metals. 19 RC holes for 616 m have been drilled on wide spaced sections of between 160 m and 500 m, along 1,100 m of strike and mineralisation remains open at depth and along strike. Results include:
- 4 m at 1.7 g/t gold, 113 g/t silver, 0.6% copper, 0.6% lead and 0.4% zinc from 73 m in RERC031,
- 4 m at 1 g/t gold, 18.4 g/t silver, 0.1% copper, 0.3% lead and 0.1% zinc from 116 m in RERC032, and,
- 2 m at 6.3 g/t gold, 9.7 g/t silver, 0.3% lead and 0.1% zinc from 141 m in RERC030.
Nanya is located 5 km southwest of Retro Extended at the southern end of the Retro Fault System, a large east-trending sericite-pyrite alteration zone at least 1.5 km by 300 m in dimension has been mapped on the northern margin of the Retreat Granite. It is possible that there is a transition from precious and base metal rich epithermal-style vein mineralisation at Retro-Extended and Retro in the north east towards bulk tonnage lower grade porphyry-style mineralisation at the Nanya prospect in the south west. Grab samples by Impact and previous explorers have returned assays of up to:
- 370 ppm molybdenum, 26 g/t silver, 175 ppm copper, 2.7% lead and 730 ppm zinc in separate granite samples; and,
- 7 g/t silver, 0.13% molybdenum, 0.16% copper, 4.8% lead and 0.16% zinc in laminated and bladed-textured gossanous quartz veins in sericite altered granite.
- Gold values were generally less than 100 ppb.
The geological characteristics of the Nanya Prospect are similar to those at the large Anthony porphyry molybdenum deposit located 100 km to the northwest (Inferred and Indicated Resource of 318 Mt at 390 ppm molybdenum at a 200 ppm lower cut off).
Results to date, combined with field checking and highly prospective grab samples from along the Retro Fault System demonstrate the potential for the discovery of a significant resource at Clermont.