Impact Minerals (IPT) has unveiled promising nickel-copper-PGE drill targets at the Caligula prospect within the Arkun Project, situated 150km east of Perth. The discovery stems from infill soil geochemistry assays that exposed a noteworthy nickel-palladium-gold-chrome-cobalt anomaly, indicating magmatic nickel-copper-PGM sulphides akin to Chalice Mining’s Gonneville deposit. This anomaly coincides with a robust conductor pinpointed in a Mobile Magnetotelluric survey (MMT) and an electromagnetic (EM) conductor from an airborne EM survey, signifying direct drill targets for sulphide mineralization.

Preparations for drilling in the second quarter are in progress, bolstered by a $180,000 co-funding grant from the WA Government EIS program. The newfound anomaly, stretching 400 meters long and 200 meters wide along the eastern edge of the original Caligula anomaly, exhibits a metal association resembling magmatic nickel-copper sulphide deposits like Gonneville and Nova-Bollinger. The target was identified through an amalgamation of soil geochemistry analysis, regional magnetic and gravity data, as well as MMT and EM data. MMT readings, gauging resistivity and conductivity, showcased the area as a conductive anomaly coinciding with reduced magnetic intensity.

Soil geochemistry outcomes highlight an anomalous zone containing gold, palladium, platinum, nickel, chromium, and cobalt, positioned on the western side of the maximum MMT conductivity zone. Palladium values soared up to 111 ppb, with gold values reaching 42 ppb. Impact Minerals intends to drill test the target in the upcoming quarter utilizing the EIS grant. The plan includes two deep drill holes to investigate the MMT and EM anomalies beneath the robust soil geochemistry. Managing Director, Dr. Mike Jones, is urging shareholders to engage in the ongoing renounceable rights issue to support the upcoming drill program.

The identification of these drill targets opens up new possibilities for Impact Minerals in the exploration of nickel, copper, and PGE resources within the Arkun Project. With the backing of government funding and a strategic exploration plan, Impact Minerals is poised to delve deeper into the potential mineral wealth of the region. The parallels drawn to established deposits like Gonneville and Nova-Bollinger further underscore the significance of this discovery and the potential economic implications it could have for the company and the broader mining sector. As Impact Minerals progresses towards drilling these targets, the industry eagerly awaits the outcome and the insights it may provide into the resource potential of the Caligula prospect.