Impact Minerals Limited (ASX: IPT) (“Impact Minerals,” “Impact,” or “the Company”) has secured a significant landholding adjacent to its existing tenure at Broken Hill. The acquisition, totalling 675 sq km, enhances Impact’s position in the highly prospective region, increasing its total land package to 1,770 sq km.
The newly acquired tenement, purchased from New Frontier Minerals Limited (ASX: NFM), sits in a prime geological setting. It aligns with Impact’s novel exploration model, which was a key component of its involvement in the BHP Xplor program. This model suggests the potential for large copper deposits in the area, complementing the historical silver-lead-zinc discoveries at Broken Hill.
The terms of the acquisition include a payment of $275,000 in Impact shares, subject to a staged six-month voluntary escrow starting one month post-completion.
Exploration Potential: Unlocking Copper at Broken Hill
Since the discovery of the world-class Broken Hill deposit in 1883, exploration has primarily targeted silver-lead-zinc mineralisation. However, multiple copper occurrences throughout the region remain largely untested. Given that major silver-lead-zinc deposits often have associated copper systems, the question remains: where is the large copper deposit at Broken Hill?
Impact became interested in this possibility while drilling at the Dora East prospect, 30 km south of Broken Hill. High-grade silver-lead-zinc intercepts were discovered, along with narrow but significant zones of high-grade copper-silver mineralisation.
Key drilling highlights at Dora East:
- Drill hole RHD020:
- 7m @ 7% Zn, 1.1% Pb, 20.7 g/t Ag from 131m
- Includes 1.6m @ 22.0% Zn, 3.6% Pb, 66.7 g/t Ag
- Also intersected 0.7m @ 2.4% Cu, 22.5 g/t Ag from 109.5m
- Drill hole RHD018:
- 1m @ 10% Zn, 0.8% Pb, 40.4 g/t Ag from 148.4m
- Includes 1m @ 26.8% Zn, 2.8% Pb, 133 g/t Ag
- Copper-rich zone: 0.15m @ 1.5% Cu, 1.3% Zn, 22 g/t Ag
Figure 2: Cross-section of the Dora East Prospect showing high-grade intercepts.
New Geological Model Suggests Untapped Copper Potential
Impact’s exploration model stems from research conducted by Prof. Tony Crawford and his team at the University of Tasmania’s Centre for Ore Deposit Studies. Their findings indicate that the source of metals at Broken Hill may extend deeper into the stratigraphy, where a large copper deposit could be present.
This model proposes that:
- The gabbro sills in the region contributed significant silver, lead, and zinc to the Broken Hill deposit.
- These sills likely also contained substantial copper, which may have accumulated in deeper magmatic or sedimentary settings.
- If correct, this model points to an untested copper system beneath Broken Hill.
Impact’s Xplor-funded research supported this theory, showing that gabbro sills in the region became progressively richer in iron, zinc, and lead towards the top of the stratigraphy—while copper depleted. This depletion suggests copper may have migrated downward, potentially forming a significant deposit.
Xplor Program Findings Drive Next Exploration Steps
Impact’s involvement in the BHP Xplor program provided critical data supporting its new copper exploration strategy. The Company conducted extensive work, including:
- Mapping and sampling of 99 gabbro sills, collecting 655 rock chip samples.
- Detailed magnetic surveys to refine geological interpretations.
- Innovative geophysical studies using Sub-Audio Magnetics (SAM) and Audio-Magnetotellurics (AMT).
These studies identified multiple new exploration targets within the Broken Hill sequence, including areas within the newly acquired tenements.
Next, Impact plans to conduct ground geophysics to refine drill targets. Given the potential scale of the system, drilling could confirm the presence of a significant copper deposit beneath Broken Hill.
Rising Interest in Broken Hill’s Exploration Potential
The Broken Hill region is experiencing renewed interest from major players. Recent developments include:
- Broken Hill Mines (ASX: BHM) acquiring the privately owned Rasp Mine and Pinnacles deposit.
- South32 Limited entering a joint venture for ground north of Broken Hill.
- Increased demand for silver, zinc, and lead, key minerals in renewable energy and battery technologies.
Impact’s strategic expansion positions it as one of the largest ground holders in the region. With a clear exploration roadmap and strong technical backing, the Company is well-placed to capitalise on this renewed interest.
Final Thoughts: What’s Next for Impact Minerals?
Impact’s new acquisition strengthens its hold on a prime exploration region with significant untapped copper potential. The Company is using its innovative exploration approach and advanced geophysical techniques to solve a long-standing mystery—could a significant copper deposit be buried beneath Broken Hill?
While Impact’s immediate priority is completing the Pre-Feasibility Study for the Lake Hope High Purity Alumina project in Western Australia, some funds from the ongoing renounceable rights issue will be allocated to advancing priority copper targets. This includes conducting ground geophysics over the newly identified sub-basin to refine drilling plans.
Impact is also exploring multiple funding options to accelerate further work in the area, given its strong potential. With rising market interest and an expanding land position, the company is poised to make significant strides in unlocking a new copper province in Australia.
Investor’s Outlook
Impact Minerals Limited (ASX: IPT) has demonstrated strong short-term performance, with its share price rising 14.29% today to $0.008 (as of March 10, 2025). The stock has gained 21.01% in the past week, reflecting renewed investor interest.
With a market capitalisation of $21.41 million and 3.06 billion shares on issue, IPT operates within a dynamic price range of $0.006 to $0.025 over the past 52 weeks. The recent momentum suggests potential upside, particularly if the company continues to deliver positive project developments and market updates. Investors will closely monitor further catalysts that could drive sustained growth.
