Impact Minerals (ASX:IPT) is pleased to announce that it has moved to a position of pending majority ownership on two key exploration licences within the Company’s newly acquired flagship Mulga Tank nickel project, 200 km northeast of Kalgoorlie in Western Australia.
The Company has acquired a third party’s 20% and 25% stake respectively in the two tenements for a total of $170,000 in cash. This adds to Impact’s 50% farm-in rights over the licences secured earlier this year in an expansion strategy to broaden its nickel, copper and PGE interests in WA and New South Wales.
The acquisition positions Impact to move to a 70% stake in E39/988 and a 75% stake in E39/1072 as well as a 50% interest in five other licences through a joint venture with Golden Cross Resources Limited. A further $1.9 million remains to be spent by Impact by November 2017 to complete this earn in.
In addition Impact owns 100% of a further six licences in the Mulga Tank Project which lies within an emerging nickel-copper-PGE province in the Eastern Goldfields of Western Australia.
Impact will start drilling on E39/988 later this week to test seven significant nickel targets with coincident electromagnetic (EM) conductors and soil geochemistry anomalies that are highly prospective for massive nickel sulphide deposits.
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