Impact Minerals (ASX: IPT)
Announced a significant, substantialand high–grade maiden Mineral Resource Estimate for its flagship Lake Hope High Purity Alumina (HPA) Project located about 500 km east of Perth in Western Australia.
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| Impact Minerals | ASX: IPT |
| Stage | Exploration |
| Metals | Gold, Silver, PGM’s, zinc, copper |
| Market cap | A$39 m @ 0.014 c |
| Location | Queensland, NSW, Western Australia |
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Impact Minerals Limited (ASX:IPT) is pleased to announce a significant, substantialand high–grade maiden Mineral Resource Estimate (MRE) for its flagship Lake Hope High Purity Alumina (HPA) Project located about 500 km east of Perth in Western Australia.
Impact has the right to earn an 80% interest in Playa One Pty Ltd, owner of the Lake Hope Project,via an incorporated joint venture (ASX Release 21st March 2023).
Highlights
- Impact Minerals delivered a maiden MRE for its flagship Lake Hope HPA project in Western Australia
- The MRE reads 3.5 million tonnes at 25 per cent alumina for a contained 880,000 tonnes of alumina
- Around 775,000 tonnes, or 88 per cent of alumina, is in the higher confidence indicated resource category
- Impact Minerals’ MRE gives it the assurance that Lake Hope will deliver high-margin, high-end products into a fast-growing global market.
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IPT Managing Director Dr Mike Jones stated;
“The maiden MRE underpins the company’s quest to become one of the world’s lowest-cost producers of high-purity alumina.
“This unique resource could provide multi-decade delivery of a mineral product recently added to Australia’s critical mineral list.”
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Impact reported that 88% of the resource, around 775,000 tonnes of alumina, is in the higher confidence indicated resource category.
The company hopes to bring Lake Hope into production, delivering high-margin end products into a fast-growing global market, with current prices for benchmark 4N HPA at about US$20,000 per tonne.
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds no shares in Impact Minerals
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