Impact to commence major VTEM survey

Impact Minerals is fast-tracking exploration of the Yarrabubba nickel project in....

  Impact Minerals is fast-tracking exploration of the Yarrabubba nickel project in Western Australia, with a major Versatile Time Domain Electromagnetic (VTEM) Survey scheduled to begin next week.The Yarrabubba Project is located about 70km southeast of Meekatharra in Western Australia and is prospective for deposits of nickel, copper and platinum group metals. The survey has been significantly increased in order to accelerate the exploration program, which will now cover about 35 percent of the project area. A review of previous exploration data indicated that a number of isolated sub-circular magnetic anomalies, which had been previously explored for diamonds, had not been effectively tested. Several of the anomalies had been drilled, but the holes did not reach target depth because they intersected granite, rather than rocks prospective for diamonds. The source of the magnetic anomalies was not explained. Impact said these anomalies may represent potential host rocks prospective for nickel and has completed reconnaissance lines of soil samples over six of the magnetic anomalies. The company said one of the anomalies was associated with modestly elevated nickel and cobalt soil responses and a second was associated with modestly elevated cobalt and cadmium responses. The VTEM survey has been extended to cover these two anomalies, amongst others. The Yarrabubba project is a Joint Venture between Impact (20%), CITIC Resources Australia Pty Ltd (60%), as well as a syndicate of investors (20%).