Makinganimpact
Junior explorer, senior excitement
Dr Mike Jones
Managing Director
Impact Minerals Ltd
“
I read a quote recently that running a junior exploration
company is like riding a bike; if you go too slowly you will fall
off,” said Dr Jones. “We are active on a number of fronts for
further asset sales, joint venture negotiations and other possible
collaborations. It is our way of flourishing during these difficult
times for the resources sector.”
Another arrangement in progress at the time of publication
is the decision by Impact Minerals and Invictus Gold to merge –
giving Impact 100% ownership of Invictus. This move will leave
Impact with three flagship projects in Australia, all with drill
ready targets, and a more compelling investment case.
At the Mulga Tank JV project in Western Australia, where
Impact is earning up to a 50% interest, seven priority drill targets
have been identified with coincident soil geochemistry and ground
electromagnetic anomalies.
“
Drill testing will progress in November and we have very high
hopes that we will make a major discovery,” Dr Jones said.
In addition, the company has identified drill targets at the
Broken Hill JV project in New South Wales which has previously
returned some of the highest grade platinum results in Australia.
Impact is earning an 80% interest in this project.
Finally at the 100% owned Commonwealth project, also in New
South Wales, Impact has identified the potential to discover a one
million ounce gold deposit centred on the dormant Commonwealth
mine. This project was mined in the early 1900s and has had very
limited exploration since that time (to 50 metres below surface).
Dr Jones said, “There is significant potential to discover
major extensions, both at depth and along strike, to the known
mineralisation. The area has great infrastructure and is in the
prolific gold and copper producing Lachlan Fold Belt that is host to
such significant mines as Cadia and North Parkes. We are looking
forward to drilling at Commonwealth as well”.
Considering a longer-term strategy, Impact will also focus on
its mining business in Turkey. “Turkey is vastly underexplored
and has huge potential to develop as a mining powerhouse in the
next 10 to 20 years,” said Dr Jones.
Through all of this activity, Impact intends to make a notable
impression in 2014.
The dormant high grade nickel-copper-platinum
Red Hill mine at Broken Hill, NSW (photo of old shaft)
Fieldwork in Africa
2013
has been a transformational year for junior exploration
company Impact Minerals. Following a set of poor drill results on
its greenfields exploration projects in Botswana and in Australia
(
through its 75% owned company Invictus Gold Ltd) late in 2012,
the company decided to transform its asset base by looking for a
more advanced project.
Within a short period of time, Impact found an opportunity to
purchase a private company that had not one but three advanced
projects in Australia – all with exciting drilling results and with
the potential to deliver a major exploration success.
“
Opportunities to acquire good projects at a good price do not
come along very often,” said Managing Director, Dr Mike Jones.
“
So when we came across this particular company that had three
great looking projects, we knew we had to act quickly!”
The settlement was agreed within two weeks and Impact and
Invictus Gold became the owners of three new flagship projects.
However the wheeling and dealing has not stopped there.
Impact has also now sold some of its uranium licences in
Botswana and also renegotiated the terms of one of its joint
venture (JV) projects.
Minesite 2013
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