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Impact Minerals (ASX:IPT) - Managing Director, Dr Mike Jones - The Market Herald
Managing Director, Dr Mike Jones
Source: Business News
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  • Impact Minerals (IPT) has been fully granted an exploration licence for its Doonia Gold Project in WA’s eastern Goldfields
  • Recently re-processed airborne magnetic data over the project has increased the area’s potential for hosting a large intrusion-related gold deposit
  • Impact Minerals has begun the process for gaining statutory environmental approvals and conducting necessary heritage surveys 
  • Drilling at Doonia should begin in the third or fourth quarter, after drilling at the Apsley and Broken Hill projects finishes
  • Impact Minerals is up 6.25 per cent and trading at 1.7 cents per share

Impact Minerals (IPT) has been fully granted an exploration licence for its Doonia Gold Project in WA’s eastern Goldfields.

The Doonia Project is one of many mining projects located within the greenstone zone surrounding Western Australia’s gold mining town Kalgoorlie. Impact Minerals has an 80 per cent interest in the project, with Odette Resources holding the free carried interest of 20 per cent.

The exploration licence granted to the company, E15/1790, comprises the Doonia Project and will allow on-ground exploration to commence at the site. 

Regional airborne magnetic data over the project was recently re-processed, resulting in the enhancement of numerous magnetic anomalies. This has significantly increased the area’s potential for hosting a large, intrusion-related gold deposit. 

The Doonia Project’s potential has also been boosted further by a recent discovery at a nearby project. In March, fellow ASX-lister Lefroy Exploration (LEX) discovered significant gold-copper-magnetite mineralisation, hosted by a magnetic porphyry intrusion, at its Burns Project. 

The Burns Project sits only 20 kilometres west of Impact Minerals’ Doonia Project, indicating the possibility that Doonia may host similar mineralisation.

In light of this encouraging data, and with the granted exploration licence in hand, the company is now working to progress towards on-ground exploration at the project. Impact Minerals has already begun the process for gaining statutory environmental approvals, as well as conducting the necessary heritage surveys.

The heritage surveys will be conducted in conjunction the the Ngadju Group. 

The company will also conduct field checking and confirmatory sampling before it begins drilling. Drilling at Doonia is likely to begin in the third or fourth quarter after Impact Minerals completes its drilling programs at the Apsley and Broken Hill projects.

Impact Minerals is up 6.25 per cent, trading at 1.7 cents per share at 11:17 am AEST.

IPT by the numbers
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