4 Impact Minerals Ltd Annual Report 2022 Review of Operations The Arkun Project, which covers about 1,900 square kilometres, is centred between York and Corrigin 130 km east of Perth and was staked following the significant PGM discovery at Julimar just 75 km north east of Perth by Chalice Mining Ltd (ASX:CHN) (ASX Release 29th May 2020). Impact is one of the larger ground holders in the region (Figure 1.1). During the year, 17 first pass targets for nickel-copper-PEMgold and lithium were identified by a proprietary geophysical method owned by Southern Sky Energy Pty Ltd, with input from the interpretation of regional magnetic data, surface geology maps and reconnaissance field checking and rock chip samples. This work has shown that: 1. It is likely that mafic and ultramafic rocks are more widespread than shown on the regional Geological Survey maps. 2. The mafic and ultramafic rocks contain low levels of PGE up to 25 to 30 ppb platinum+palladium+gold in rock chip samples in many places. This is encouraging as it suggests elevated background levels of these metals are widespread across the project area. 3. Most of the project area is covered by residual soils and ferricrete with limited transported cover meaning that quick assessments of target areas can be made with conventional soil geochemistry techniques. Beau Figure 1.1: Location of priority targets for follow up on Impact’s tenements. 1. ARKUN PROJECT, WA (IPT 100%) Fifteen of these targets were covered by a single line soil geochemistry traverse, each up to several kilometres long along gazetted roads and tracks with soil samples taken at 100 metre spacings along the traverses. Each traverse was long enough to extend well away from the target area into areas of “background” in order to establish the relative anomalism of the various metals in the target above background. A significant number of high priority targets for nickel-copper-platinum group metals-gold (PGM) and, for the first time, lithium-caesiumtantalum pegmatites, rare earth elements (REE) and rubidium were defined by the soil geochemistry. The overall results of the soil geochemistry survey are described below and presented as additive Z scores in the following Figures. Further details on some of the priority targets identified and the sampling and analytical techniques used can be found in ASX Release 21st September 2021 and 27th October 2021.
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