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Impact Minerals’ (ASX:IPT) Managing Director Dr. Mike Jones discusses the project generation company’s philosophy of identifying world class high-grade mineral deposits while mitigating risk. The company owns five exploration projects, originally focused on Western Australia with three ventures in that area. In Q4 of 2021, the company engaged in an AU$18 million farm-in agreement with IGO (ASX:IGO) to expand into New South Wales through four joint venture projects.
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Speaking to drilling projects, Impact Minerals’ (ASX:IPT) Managing Director Dr. Mike Jones noted, “What we’ve done in the last 12 to 18 months is put together a fantastic portfolio of projects in the southwest of Western Australia. This is generally what’s called high-grade metamorphic terrain.”
Jones refers to the world-renowned resources in the Greenbushes zone, continuing to state “It’s been very poorly explored over the years, and yet it does host a number of world class deposits. In particular, the lithium tantalum mines where there’s numerous million-ounce gold deposits.”
The mining area is located approximately 18 kilometers north of Bridgetown, and Dr. Jones states, “We’ve got about 3,000 square kilometers in there and we do own 100 percent of most of it. We’ve got some joint ventures with a group that’s got some great target technology. What we’re generating at this very early stage is a significant number of soil geochemistry anomalies. It’s very basic work, it’s cheap to do, we can cover large areas and we have a very high hit rate in terms of the targets we’ve identified, and the solid numbers that we’re generating. That’s the first step towards drilling which will occur over the next couple of years”.
Speaking to plans for the company moving forward, Jones said, “I think the market is going to be pretty impressed over the next three to six months. We’ve got these early-stage projects and lots of chemistry on the way that show how many targets we’re actually going to be able to generate. We’re going to end up with 50-plus drill targets — and that’s going to be way too much for a little company like Impact, so we’ll probably end up looking to attract a partner for that.”
Dr. Jones also discussed focusing on principal commodities, including base and precious metals. He mentioned, “Impact has always been a nickel, copper and precious metals explorer. At least three of these commodities we can call battery metals — so we’re as trendy as every other company that’s looking for those now. We’re generating targets almost hand over fist at the moment, in this very unexplored area. I think we’ve got a very exciting future ahead.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.