Impact Minerals (ASX: IPT)
Released an update for their Lake Hope High Purity Alumina (HPA) project.
Intermediate aluminium salts have been produced from Stage 3 that require further purification in Stages 4 and 5 to make HPA, with results expected by late this Quarter or early Q1 2024.
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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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Lake Hope HPA Project, WA: PFS and Metallurgical Test Work Update
• The Preliminary Feasibility Study is progressing on schedule, with significant progress made on the metallurgical test work to verify the proprietary and patented Playa One process that converts raw lake clay from Lake Hope into High Purity Alumina (HPA).
• Three of the Five Stages of the Playa One sulphate process have been completed with results that either confirm or improve upon previous results.
• Intermediate aluminium salts have been produced from Stage 3 that require further purification in Stages 4 and 5 to make HPA, with results expected by late this Quarter or early Q1 2024.
• Other PFS progress includes:
– Environmental baseline studies are to commence in early November.
– Statutory approvals (PoW) have been received for a geotechnical drill program, shallow water bores and a bulk sample program, which will all commence this Quarter.
– A meeting with the Western Australian Department of Mines, Industry and Safety Regulations is set for late October to discuss the lodgment of a Mining Lease application.
– Ongoing discussions with industry analysts, marketing representatives and end users have commenced to secure agreements for product testing.
• An independent review of the Lake Hope Scoping Study is nearly complete.
Impact Minerals’ Managing Director, Dr Mike Jones, said,
“We continue progressing rapidly across the entire Pre–Feasibility Study on Lake Hope, particularly with the metallurgical test work.“The test work has shown the Playa One Sulphate Process is straightforward and very effective in leaching the unique clays at Lake Hope.
“We are delighted with the results that have replicated or improved Playa One’s previous work. We have zeroed in on the ideal process conditions to make HPA in quantity and are very focused on making improvements that will reduce processing costs.“We aim to produce 99.99% or 4N HPA by early next year.
“Our work continues to highlight the competitive advantages of the unique mineral deposit at Lake Hope and its potential to become one of the lowest–cost producers of HPA globally.“We look forward to releasing our Scoping Study shortly, following an independent review, which will give a first look at the economics of this exceptional project”.
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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