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EPIC: IPT
Market: ASX
52-week High/Low: A$0.03 / A$0.01
Sector: Mining
Market Cap: A$14.42M
Impact Minerals Ltd

Impact Minerals Ltd

Impact Minerals Ltd (ASX:IPT) is listed on the Australian Securities Exchange.

Impact Minerals Ltd

www.impactminerals.com.au

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Big picture - Why invest in Impact Minerals Ltd


Impact Minerals Ltd Snapshot

Impact Minerals Limited (ASX:IPT) was established to explore for deposits of uranium, nickel, Platinum Group Metals (PGM's) and gold and listed on the ASX in November 2006. The Company has extensive tenement holdings in Africa and more recently Australia: a portfolio of projects with the potential for significant deposits of uranium and copper-nickel PGM's.

The Directors of the Company have extensive experience in mining and mineral exploration and a strong history of exploration success, business development and corporate management.

Impact Minerals intends to build the business with a vigorous campaign of project evaluation and project generation for potential acquisitions and farm-ins, both in Australia and overseas. The Impact team is committed to achieving sustained and rapid growth through the vision of the Company to engage in World Class Exploration and Resource Development.

AFRICA

BOTSWANA URANIUM PROJECT (IMPACT 100%)


Impact's Botswana Uranium Project comprises approximately 30,000 sq km of Prospecting Licenses containing significant strike extensions to the host rocks found at the nearby Letlhakane Uranium Project owned by A-Cap Resources Limited (Figure 1). A-Cap have reported an Inferred Resource of 261 million lbs of U3O8 at an average grade of 150 ppm (100 ppm cut-off) hosted within near-surface calcretes of the Kalahari Group and sedimentary rocks of the Karoo Group. A-Cap has recently commenced a feasibility study into open pit mining and heap leach treatment of the resource.

Impact's licences are prospective for four types of uranium deposit, hosted by:
- calcretes within palaeochannels;
- Karoo sedimentary rocks;
- Proterozoic rocks and sedimentary in basement faults; and
- deposits hosted by Proterozoic leucogranites.


Figure 1

Impact's interpretation of Government-supplied airborne radiometric data covering 75% of Impact's tenements in northeastern Botswana identified several prospective sites with elevated surface uranium responses. This data, together with field reconnaissance, mapping and drilling, led to a discovery at Lekobolo, Morolane, Mosolotsane and Molyabana (Figure 1).  All of these are in siltstones and sandstones of the Karoo Supergroup.

Impact estimates that for the area drilled at Lekobolo (Figures 3 and 4) there is a Target Mineralisation (see Note 1) of between 14 Mt and 18 Mt of mineralisation at an average grade range of between 135 and 180 ppm for a contained 4 Mlb to 7 Mlb of U308.

This target is conceptual in nature and it should not be construed as a resource calculated in accordance with the JORC Code.

The Lekobolo deposit would be important as a satellite deposit for an existing mining operation and is currently inadequate for a stand-alone mine. Accordingly resource definition drilling will be placed on hold until circumstances warrant.


(click here for more information on this project)



XADE NICKEL PROJECT


Xade Nickel-Copper-PGE JV Project: Botswana (Impact earning 51%)


In late 2010 Impact entered into an option agreement with private company Manica Minerals Limited in relation to the Xade Project in central Botswana, to explore for deposits of platinum group elements (PGE), copper and nickel (Figure 2).


Figure 2

Impact has used funds provided by the Impala PGE-Nickel Alliance to upgrade its knowledge of the project prior to the decision to farm in.

The agreement with Manica requires Impact to spend US$1.2 million over two years to earn a 51% interest. Impact may then elect to earn up to a 75% interest by incurring the necessary expenditures to define an Indicated Mineral Resource.

Manica owns 100% of the Prospecting Licences, with an area of about 9,000 sq km and which cover the entire extent of the ~280 km strike of the Xade Complex. The Project is close to excellent infrastructure and the very large Orapa diamond mine (Figure 2).

The Xade Project covers a very large aeromagnetic feature interpreted, from existing diamond drill holes, as a large gabbro intrusion.  It has the same dimension as one half of the PGE-fertile and World Class Bushveld Complex in neighbouring South Africa with excellent potential to host deposits of PGEs and nickel-copper sulphides.

The Xade Complex occurs in the North West Botswana Rift, an igneous province of similar age and geological characteristics to the Midcontinent Rift of North America, and which hosts numerous major copper-nickel-PGE deposits, such as:

- the extraordinary Nokomis deposit of disseminated mineralisation in the Duluth Complex (Duluth Metals Limited) which has an Indicated Resource of 550 Mt at 0.64% copper, 0.2% nickel and 0.66 g/t total precious metals (platinum plus palladium plus gold);

- the Eagle massive sulphide deposit of Rio Tinto (3.6 Mt at 3.5% nickel and 2.9% copper); and

- the new PGE-nickel-copper discovery of Magma Metals Limited at the Thunder Bay North Project with an Indicated Resource of 8 Mt at 2.3 g/t platinum equivalent (platinum plus palladium plus copper plus nickel) or 591,000 ounces platinum equivalent.

Results of Impact’s Geochemical Study
The results of detailed and systematic geochemical analyses of 330 metres of Xade diamond core not previously analysed by Manica, together with re-logging of the core, confirm Impact’s view that the Xade Complex is extremely prospective for deposits of nickel, copper and PGE’s.

There is strong chemical evidence that the gabbro magma was contaminated by extensive amounts of granite that probably introduced sulphur into the melt. This “crustal contamination” is widely viewed to be a pre-requisite for the formation of large copper-nickel-PGE deposits.

In addition there are gabbro units that have crystalline textures indicative of the distal and lateral equivalent of potentially mineralised units.

It is important that the Xade Complex is:
  • similar in size to one limb (half) of the Bushveld Complex;
  • on the same ancient crater as the Bushveld Complex and the Great Dyke, which collectively produce about 75% of the World's platinum;
  • close to excellent infrastructure; and
  • in Botswana, a country widely noted for its mining heritage and its legislative environment.

Impact has recently completed a high-resolution airborne gradiometer magnetic survey along a selected 60 km strike length. This data is being processed for interpretation.



AUSTRALIA


THE MULGA TANK PROJECT (IMPACT EARNING 50%)

Project Summary
The Mulga Tank Project covers 425 square kilometres in the emerging nickel province of southwest Western Australia. The region is host to Sirius Resources’ Nova nickel deposit; BHP Billiton Ltd - St George Mining’s Dragon disseminated nickel sulphide discovery; AngloGold Ashanti - Independence Group’s Tropicana gold mine; and the significant uranium deposit at Mulga Rocks (Figure 1).

The Project is highly prospective for:
  • bulk tonnage nickel deposits such as Mount Keith near Leinster, WA and the very large and significant Dumont deposit in Quebec that is progressing towards development (Royal Nickel Corporation (TSX: RNX):  Reserve 1.1 Bt at 0.27% nickel, Measured, Indicated and Inferred Resources of 2.1 Bt at 0.26% nickel for a contained 8 Mt of nickel with significant credits for contained cobalt, PGE’s and magnetite);
  • high-grade nickel sulphide deposits similar to those at the nearby major WA mining centres of Kambalda and Forrestania;
  • gold deposits hosted in faults and shear zones within the greenstone belt stratigraphy similar to the many multi-million ounce deposits found throughout the Eastern Goldfields Province of the Yilgarn Craton; and
  • uranium deposits hosted by Cainozoic palaeochannels such as the nearby Mulga Rock deposit.

A review and synthesis of previous exploration data is ongoing at the Project.


Figure 1: Location of the Mulga Tank Project and significant nickel sulphide deposits (red dots).

 

(click here for more information on this project)



THE BROKEN HILL PROJECT (IMPACT EARNING 80%)


The Broken Hill Ni-Cu-PGE Project is located 20 km east of the World Class Broken Hill silver-lead-zinc mine in New South Wales, and consists of one Exploration Licence (EL7390) covering 200 sq km in the south east part of the richly mineralised Curnamona Province (Figures 1 and 2).

A joint venture project with Golden Cross Resources Ltd (GCR), Impact has the farm-in rights to nickel-PGE minerals in mafic-ultramafic complexes within EL7390, and can earn 51% of the Ni-PGE rights from GCR by spending an additional $345,000 by November 2015, and 80% by spending an additional $200,000 by November 2017.

The project area contains many tens of strike kilometres of mafic-ultramafic sills, dykes and stocks that contain gossans and fresh outcrops with very high-grade PGE’s, nickel, copper, gold and silver mineralisation (Figure 2).


Figure 1: Location of the Broken Hill Ni-Cu-PGE Project

 


Figure 2: Broken Hill Ni-Cu-PGE Project - magnetic data showing mapped mafic-ultramatic units.

 

(click here for more information on this project)



THE COMMONWEALTH PROJECT

Project Summary

Acquired on 13 June 2013, the Commonwealth Project is a high grade gold-VMS Project with potential for small scale early production.

Just 95 km north of Orange in New South Wales, the project area covers around 8 sq km and is situated within the prolific Lachlan Fold Belt, a region renowned for its major gold-silver-base metal mines including the Cadia-Ridgeway deposits (Newcrest) containing 70 million ounces of gold and 12 million tonnes of copper (Figure 1).


Figure 1: Location of the Commonwealth Project and significant gold-copper mines and prospects within the Late Ordovician volcanic and intrusive belts of the Lachlan Fold Belt.

 

(click here for more information on this project)



THE CLERMONT PROJECT


The Clermont Project is located about 20 km south east of Clermont and comprises 156 sq km of granted tenements (Figure 1). One third of the area is interpreted to be underlain by the prospective Cycle 1 Volcanics, beneath a cover of younger rocks and regolith. This cover has hindered previous conventional soil geochemistry surveys which identified a few areas, km in dimension, that contain erratically distributed anomalous gold values. These have not been drilled.


(click here for more information on this project)




Last updated 27th July 2015.

Dr Mike G Jones
Managing Director
MAIG

Dr Jones completed undergraduate and post-graduate studies in Mining and Exploration Geology at Imperial College, London. His Ph.D work on gold mineralisation saw him move to Western Australia in 1988 to work for Western Mining Corporation exploring for gold and nickel deposits in the Yilgarn. From 1994 he consulted to the exploration and mining industry specialising in the integration of geological field mapping and the interpretation of geochemical, geophysical and remotely sensed data for target generation. Dr Jones has worked on over 80 projects both in greenfields and near mine exploration in a wide variety of mineralised terrains and was the founding director of Lithofire Consulting Geologists in Perth, Australia. He was also the team leader during the discovery of a significant gold deposit at the Higginsville Mining Centre, near Kalgoorlie and an iron ore deposit near Newman, both in Western Australia.


Peter J Unsworth
Non-Executive Chairman
BCom

Mr Unsworth, formerly a Chartered Accountant, has more than 35 years experience in the corporate finance, investment, and securities industries and a wealth of management experience with both public and private companies. A former Executive Director with a leading Western Australian stockbroking company, Mr Unsworth has been a director of a number of public exploration and mining companies. He recently completed a long period serving as Chairman of the Western Australian Government owned Gold Corporation (operator of The Perth Mint).


Mr Paul Ingram

Non-Executive Director
B.AppSc, AIMM, MICA

Mr Ingram is a geologist with extensive experience in managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas, and has managed projects in countries throughout Australia and east Asia.

Mr Ingram has been a director of the following listed companies in the past three years:
  • Polo Resources Limited from January 2008 to January 2011;
  • A-Cap Resources Limited since June 2009;
  • West Australian Metals Limited from July 2009 to January 2010;
  • Consolidated Global Investments Limited since September 2006;
  • Caledon Resources Limited from February 2003 to March 2008; and
  • Australian Pacific Coal Limited since March 2011.


Dr Markus Elsasser
Non-Executive Director

Dr Markus Elsasser is a German financier and investor in the mineral resources industry.  He is Head of the Elsasser family office 'M. Elsasser & Cie AG 1971' in Dusseldorf, Germany, a Non-Executive Board member of Kopy Goldfields AB (an exploration company listed in Sweden), a Non-Executive Director of Stellar Diamonds Plc, London (a diamond exploration and development company) and a Non-Executive Board member of Stellar Resources Limited (tin deposit) in Melbourne, Australia.  Dr Elsasser was previously a Director of Finance at the Dow Chemical Company in Germany and he has extensive General Management experience with former appointments as Managing Director in Australia and Singapore in the chemical and Food industries.  Dr Elsasser has a degree and PhD in Business Administration from Cologne University, Germany.


Mr James Cooper-Jones
B.A. /B.Comm, MIPA, SA Fin, MAICD

Over his career Mr Cooper-Jones has held various senior accounting and secretarial roles primarily with listed resource companies and has been involved in the listing of several companies on the ASX.


Leo Horn
Chief Operating Officer
B Sc. Honours, MAIG

Leo Horn completed a Bachelor of Science in Geology with Honours at The University of Western Australia. His early exploration research in diamonds and then gold with CSIRO as an embedded researcher with Goldfields St Ives developed new geochemical and mineralogical techniques that later assisted the discovery and delineation of gold resources. Leo now has an extensive international career in the Mining and Exploration industry in gold, base metals, uranium and diamonds with several ASX and TSX listed companies which extends from Australia, North America and Southern Africa. Leo managed the discovery, resource definition and resource estimation of several high grade uranium deposits in Saskatchewan, Canada with UEX Corporation. Leo successfully managed Impact Minerals in the discovery of several deposit styles including IOCGU in Botswana, Africa as well as high grade epithermal in Queensland. Leo recently provided an integral role in the evaluation and acquisition of the flagship Commonwealth gold-silver-base metal deposit and the Broken Hill Platinum project which are the focus of Impacts current aggressive exploration campaign.



Last updated 27th July 2015.

Impact Minerals Limited
26 Richardson Street
West Perth WA 6005

Phone: (61 8) 6454 6666
Facsimile: (61 8) 6454 6667
Email: [email protected]

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