Lithium

Impact Minerals records first-ever lithium and rare earth outcrops at Hopetoun

Tue 19 Apr 22, 1:14pm (AEST)
Exploring - Top view shot of two industrial workers wearing reflective jackets standing on mining worksite
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Key Points

  • Impact Minerals discovered visible spodumene crystals and rare earth samples
  • Sample assays have been submitted for geochemical assays, results expected mid-May
  • The Hopetoun Project could be sitting on the Ravensthorpe greenstone belt, host to several lithium, nickel and copper-gold deposits

Battery metal hopeful Impact Minerals (ASX: IPT) has recorded its first-ever lithium at the Hopetoun Project in WA.

Outcrop of pegmatite veins with large spodumene crystals and rare earth bearing grab samples were identified at the Kalahari Prospect, which is part of the Hopetoun Project. 

Impact Minerals believes the project could be sitting on an extension of the Ravensthorpe greenstone belt, host to multiple mines and deposits of lithium, nickel and copper-gold from companies including:

Airborne Magnetic data over Ravensthrope-Hopetoun area
Airborne magnetic data over the Ravensthorpe-Hopetoun area. Greenstone belt (green), Hopetoun project (red). Source: Impact Minerals

Next steps

Staying on course

Most of the previous work at the Hopetoun Project has been focused on previous and base metal potential. The company advised that the diamond drill program to test for copper-silver-gold targets at Hopetoun is nearing completion.

Samples will be dispatched to Perth, with results expected in June.

Pending lithium and rare earth assays

Managing Director Mike Jones said that it is possible for the area to “host significant lithium and rare earth deposits".

The lithium and rare earth bearing grab samples have been submitted for geochemical assays. Results are expected around mid-May.

"In the meantime we will extend our soil geochemistry surveys over more of the project area to define areas for follow up work," said Jones.

Other projects

Blackbridge Gold Project: Impact said it was in advanced discussions to sell the project

Broken Hill Nickel-Copper-PGEs Project: significant electromagnetic survey has been underway since late January.

Commonwealth Copper-Gold Project: preliminary discussions regarding a potential transaction have been held with several companies, terms are yet to be agreed

Impact Minerals Ltd (ASX IPT) Share Price - Market Index
Impact Minerals 12-month price chart

 

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University and was Vice President of the University Network for Investing and Trading (UNIT). He is an avid swing trader, and drawn to breakouts and technical set ups. Outside of writing and trading, Kerry is a huge UFC fan, loves poker and bouldering.

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