Lake Hope Project Advances with 730,000t Measured Resource and Pilot Plant Funding

Lake Hope Project Milestones

Impact Minerals (ASX: IPT) has made significant strides in its flagship Lake Hope High Purity Alumina (HPA) Project in Western Australia, announcing a maiden Measured Resource of 730,000 tonnes at 25.8% alumina. This resource underpins an initial 15-year mine life at a targeted production rate of 10,000 tonnes per annum of 99.99% purity alumina, a critical mineral for high-tech applications such as lithium-ion batteries and semiconductors.

The company is progressing towards declaring a maiden Proven Reserve, with ongoing mining and economic studies. The project’s economics remain robust, supported by a previously reported after-tax NPV8 of A$1.3 billion and some of the lowest operating costs globally for HPA production.

Pilot Plant Funding and Engineering Progress

A key development is the securing of a $2.87 million Cooperative Research Centres Projects (CRC-P) grant from the Federal Government. This funding, in partnership with CPC Engineering and Edith Cowan University, will accelerate the construction of a pilot plant designed to produce consistent HPA samples for customer qualification and off-take agreements. The pilot plant will also implement Membrane Selective Technology to enhance acid regeneration and reduce waste, aiming for a zero-liquid discharge process.

Engineering studies by CPC Engineering continue to refine the design of the 10,000 tpa processing plant, with a focus on acid regeneration systems to reduce chemical consumption and operational costs. Metallurgical test work is advancing well, with promising results from low-temperature leach process trials.

Exploration Advances at Arkun-Beau

Impact’s 100%-owned Arkun-Beau project in WA also saw progress, with 311 new soil samples collected over key target areas, including infill sampling at the Caligula copper target and new mobile MT anomalies. These samples will inform drill targeting, with a substantial drilling program planned for the second quarter of 2025. The Caligula prospect shows potential for a significant porphyry copper-gold deposit, with geophysical and geochemical anomalies aligning with known mineralisation styles in the region.

Commonwealth Project IPO and Corporate Update

In New South Wales, Impact retains a 49% interest in the Commonwealth Project, which is being advanced through an IPO by Burrendong Minerals Limited. Impact shareholders have a priority entitlement of $2 million in the IPO, and Impact will become Burrendong’s largest shareholder with a 12.5% stake post-listing. Burrendong plans an aggressive drilling campaign to expand known high-grade gold, silver, and copper resources.

Financially, Impact received a $512,000 Research and Development Tax Incentive rebate and ended the quarter with $1.20 million in cash. Exploration expenditure was $893,000, with corporate and administration expenses at $477,000.

Outlook

Impact Minerals is on track to complete the Lake Hope Pre-Feasibility Study by the end of Q1 2025, with key deliverables including final mining schedules, acid regeneration test results, and capital cost estimates. The pilot plant construction will be a critical milestone towards commercial production and market engagement. Meanwhile, exploration at Arkun-Beau and the Burrendong IPO represent additional catalysts for the company’s growth trajectory.