- Impact Minerals has identified a large target for copper and possibly gold mineralisation at its Arkun project in WA
- The Caligula targets add to IPT’s previously reported large REE soil geochemistry anomalies identified at Hyperion and Horseshoe
- Drilling planned at Caligula for Q2 and Q3 this year
Special Report: A large target for porphyry copper mineralisation has been identified in soil geochemistry data and mobile magneto telluric (MMT) data at the Caligula prospect, part of Impact’s Arkun project in Western Australia.
Impact Minerals (ASX:IPT) believes Arkun – just 150km east of Perth – is a standout in terms of the nearly 2,000km2 project’s demonstrated potential for not only rare earth element (REE) mineralisation but also its copper-nickel-lithium and gold.
The explorer turned up REE anomalism of up to 5,880ppm (0.59%) total rare earth oxide (TREO) and NdPr of up to 21% from soil sampling Arkun in early January, covering a 3km2 area.
The exploration potential for a range of battery and strategic metals has now been further confirmed with the identification of a 5km by 1km soil geochemistry anomaly for copper.
IPT says the anomaly also contains the key metal assemblage of copper-silver-cobalt-tellurium-bismuth and molybdenum – all indicators of porphyry copper mineralisation – like those found at the giant Boddington gold mine and the Calingiri development project nearby.
Initially identified in roadside and follow-up soil geochemistry surveys, the Caligula prospect has now been enhanced by the presence of several significant conductors generated from the MMT data – from one of the first surveys of its type to be flown in Australia – within the anomaly, potentially representing disseminated or massive sulphides.
Caligula is open to the east and the southwest and further sampling is in progress to define the full extent of the anomaly.
The first of many targets
IPT managing director Dr Mike Jones says the Caligula prospect is “one of first of many” geochemical and geophysical targets still to come at the project.
“[Caligula is one of the few areas] where we have actually been able to define the size and scale of the anomalies and, given we have at least a dozen more similar areas to follow up, I am confident of more significant anomalies to come at Arkun,” he says.
“We are working towards a maiden drill program as quickly as possible, and we will aim to cover as many targets as possible, including Hyperion and Swordfish [for rare earth elements]. We are very encouraged by our results so far.”
Drilling other significant targets
IPT intends to drill Caligula and other significant targets such as Hyperion, Swordfish and other target areas as soon as practicable in 2024.
The timing of this drilling will depend on statutory approvals and, in particular, landholder consent, but the company is aiming to be on the ground in the next quarter and into Q3 this year.
This article was developed in collaboration with Impact Minerals, 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.
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