Impact Minerals is gearing up to explore a promising new drill site in Western Australia, targeting nickel, copper, and platinum group elements (PGE). Recent assessments at Impact Minerals’ Caligula prospect in the Arkun project have unveiled a significant anomaly rich in nickel, palladium, gold, chrome, and cobalt, signaling a potential hotspot for drilling.

The Caligula prospect, initially recognized for its extensive copper-dominant soil anomaly spanning vast dimensions, has now revealed a refined anomaly along its eastern periphery. This newly identified anomaly coincides with robust conductors identified through mobile magnetotelluric (MMT) and electromagnetic (EM) surveys. The metal composition of this anomaly aligns more closely with magmatic nickel-copper-PGM sulphide deposits akin to renowned deposits like Chalice Mining’s Gonneville and the high-grade Nova-Bollinger deposit.

Dr. Mike Jones, Impact Minerals’ managing director, highlighted the company’s strategic shift towards exploring the Caligula target following intensive groundwork. The forthcoming maiden drilling program, partly funded by a substantial EIS grant, aims to uncover new discoveries in the burgeoning mineral field of the South West Yilgarn region.

The correlation between heightened palladium, platinum, and gold anomalies in soil samples and key geophysical conductors identified in prior surveys underscores the high-value targets set for imminent drilling activities post the upcoming renounceable rights issue deadline.

The identification of the new target stemmed from a meticulous analysis combining soil geochemistry, regional magnetic and gravity data, MMT, and EM data. Notably, a conductive anomaly within the MMT dataset, coinciding with a magnetic intensity decline, hints at potential sulphide mineralization. An airborne EM anomaly further corroborates these findings, accentuating the prospect’s mineralization potential.

A subsequent soil geochemistry survey validated a significant zone rich in gold, palladium, platinum, nickel, chromium, and cobalt, fortifying the case for substantial sulphide presence. Noteworthy palladium and gold values within the MMT conductive zone further enhance the prospects for discovering disseminated or massive sulphides, marking these areas as top priorities for upcoming drilling endeavors.

Looking ahead, Impact Minerals plans to commence drilling activities in the second quarter of 2025, leveraging the support of the WA state government’s EIS grant. The exploration strategy entails drilling two deep holes to probe the MMT and EM anomalies underlying the robust soil geochemistry. Ongoing target generation efforts may also be integrated into the comprehensive drilling program, reflecting the company’s commitment to unlocking the full potential of the Caligula prospect.