18 Impact Minerals Ltd Annual Report 2022 The Hopetoun project comprises two tenements (E74/563 and E74/679) covering 75 km2 and is located just north of the town of Hopetoun, close to the Ravensthorpe mining centre (Figure 4.1). The project covers part of the Albany Fraser Mobile Belt which is considered prospective for a variety of mineral deposits. The project contains six drill ready targets for base and precious metals of which two were fully permitted for drilling. The targets were identified by Impact’s joint venture partner using the proprietary EPR technology owned by Southern Sky Energy Pty Ltd and associated soil geochemistry anomalies in limited sampling. During the year drilling programmes were completed at the Top Knotch (RC and diamond drilling) and Silverstar (diamond drilling) prospects. The Hopetoun area has received very little exploration because of a perception that much of the area is underlain by barren Proterozoic gneisses. In addition, there is extensive younger cover which has hindered previous explorers. However, a review of the regional airborne magnetic data over the area suggests that much of the gneiss terrane may be an extension of the Ravensthorpe greenstone belt to the north which contains numerous mines and deposits of lithium (Mt Cattlin mine, Allkem Limited, ASX:AKE), nickel sulphide (the dormant RAV 8 mine and associated deposits), copper-gold (including the Kundip historic mining centre, Medallion Metals Ltd ASX:MM8), zinc-lead-copper (Trilogy deposit, ASX:MM8) as well as nickel laterite (First Quantum Minerals Limited, TSX:FM). Accordingly, Impact on behalf of the joint venture has applied for a new Figure 4.1: Image of airborne magnetic data over the Ravensthorpe-Hopetoun area showing the interpreted extension of the Ravensthorpe greenstone belt south of the Jerdacuttup Fault together with the licences in the Hopetoun Joint Venture. The new licence is EL74/730. 4. HOPETOUN (Impact earning 80%) exploration licence that is underlain by the Munglinup Greiss, as well as an extension of the Ravensthorpe greenstone belt and associated Jerdacuttup Fault. This will also form part of the Hopetoun Joint Venture (Figure 4.1) At the Top Knotch copper-gold Prospect the drilling intersected a sequence of felsic gneisses and granodiorites interlayered with gabbroic to doleritic units interpreted as sills. These mafic rocks are anomalous in copper (Figure 4.2) No significant intercepts were recorded and the source of the geophysical and geochemical anomalies is unknown. A follow up detailed soil geochemistry survey was completed over the area to better refine the target and results are awaited. Review of Operations continued
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