Impact Minerals Ltd Annual Report 2023 17 Review of Operations continued HORSESHOE REE PROSPECT A significant and large soil geochemistry anomaly for Rare Earth Elements (REE) and called the Horseshoe Prospect, was also identified at Arkun. The anomaly is about 10 kilometres long, up to 2,000 meters wide and comprises both the more valuable Heavy Rare Earth Elements (HREE) and the Light Rare Earth Elements (LREE) (Figure 13 and 14). The anomaly is arcuate and centred around a prominent magnetic low adjacent to a major regional fault visible in regional magnetic data. In addition, it coincides with an elevated potassium response in regional radiometric data (Figure 15). This is interpreted to indicate that the REE may be associated with a zone of potassic alteration related to the immediate contact zone (“Goldilocks zone”) of a weakly magnetic felsic or possibly alkaline/carbonatite intrusion that may have migrated from depth along a major fault. Field checking and rock chip sampling are now required to test this further and help identify specific drill targets. Figure 13. Additive response ratios for Total Rare Earth Elements (TREE) across the greater Arkun-Jumbo-Beau project area, highlighting the Horseshoe anomaly. The linear zones of samples mark the location of previously reported soil geochemistry samples taken on roadside traverses with numerous areas of anomalous REE identified, all requiring detailed follow-up surveys (ASX Releases 27th October 2021 and 8th March 2022).
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