Impact Minerals has completed, ahead of schedule, acquisition of the joint venture rights to the highly prospective Mulga Tank nickel and Broken Hill nickel-copper-PGE projects from Endeavour Minerals. The acquisition is part of a combined transaction with Impact’s 75%-owned Invictus Gold to acquire the projects and shares of Endeavour. Invictus has also announced completed its part of the transaction.
Impact’s managing director Dr Mike Jones says, “We are extremely pleased to announce the completion of this transaction with our ongoing review and analysis of previous data at Mulga Tank and Broken Hill continuing to prove the highly prospective nature and value of these assets. We have already identified significant target areas for priority follow up at Mulga Tank, with ground geophysical surveys scheduled to commence in late June.”
Impact is earning a 50% interest in Mulga Tank, which covers 425sqkm in the emerging nickel province of south west Western Australia that is host to Sirius Resources’ Nova nickel deposit and BHP Billiton/St George Mining’s recent Dragon disseminated nickel sulphide discovery as well as the developing Tropicana gold mine of Anglogold/Independence Group and the large and significant uranium deposit at Mulga Rocks.
At the Broken Hill project, 20km east of the world-class Broken Hill silver-lead-zinc mine, Impact is earning an 80% interest in the nickel-copper-PGE rights in numerous mafic-ultramafic complexes within an exploration licence which covers about 150sqkm within the richly mineralized Curnamona Province.
Work at the Broken Hill project is ongoing, with re-analysis and synthesis of previous exploration results expected to confirm the potential for bulk tonnage PGE mineralization.