Impact Minerals has acquired a 55 sq km tenement covering the historic Huonville gold district near Broken Hill, significantly expanding its landholding and advancing its exploration for copper-gold deposits.
- Acquisition of 100% interest in EL8024 tenement covering Huonville gold district
- Landholding now totals approximately 1,800 sq km surrounding Broken Hill mine
- Legacy rock chip samples show high-grade gold up to 83.2 g/t with silver, bismuth, copper
- Exploration model targets IOCG-style mineralisation supported by recent geophysical surveys
- Acquisition terms include $125,000 in shares, $25,000 cash, and 1% NSR royalty
Strategic Acquisition at Huonville
Impact Minerals Limited (ASX – IPT) has taken a decisive step in consolidating its presence in the Broken Hill region with the acquisition of a 55 square kilometre tenement (EL8024) covering most of the historic Huonville gold district. Situated about 25 kilometres southeast of Broken Hill, this tenement is contiguous with Impact’s existing extensive landholding, which now spans approximately 1,800 square kilometres and almost encircles the world-renowned Broken Hill lead-zinc-silver deposit.
The acquisition from a private company, subject to ministerial approval, involves a modest cash payment of $25,000, the issue of $125,000 worth of Impact shares held in escrow for six months, and a 1% net smelter royalty payable to a previous owner. This deal represents the final piece in Impact’s decade-long strategy to assemble a commanding ground position in the region.
Exploration Potential and Legacy Data
Huonville’s historical significance as a goldfield is underscored by legacy rock chip samples exhibiting exceptionally high gold grades, with assays reaching up to 83.2 grams per tonne. These samples also contain notable silver, bismuth, and copper values, a metal assemblage characteristic of iron-oxide-copper-gold (IOCG) deposits. This aligns with a prospectivity model developed by consultants Kenex for the NSW Geological Survey, which identified Huonville as a potential IOCG target.
Previous shallow drilling programs, however, failed to replicate these high-grade gold results, suggesting that some of the gold mineralisation may be enriched near the surface. The drilling data also suffers from uncertainties regarding collar locations and orientations, limiting definitive conclusions. Impact is currently reviewing all historical data alongside results from recently completed ground magnetotelluric surveys to refine exploration targets.
Broader Regional Context and Market Dynamics
The Broken Hill region is experiencing a resurgence in exploration interest, driven by sustained rises in precious and base metal prices and long-term demand for copper, zinc, and lead. Other players such as Broken Hill Mines and South32 have recently expanded their holdings or entered joint ventures nearby, highlighting the strategic importance of the area.
Impact’s exploration approach builds on its participation in the inaugural BHP Xplor program, which introduced a new exploration model targeting large copper and copper-gold deposits. The Huonville acquisition complements this strategy by adding a prospective IOCG target to Impact’s portfolio, potentially representing the upper sections of a larger mineralised system at depth.
Next Steps and Outlook
With the acquisition now secured pending regulatory approval, Impact plans to integrate legacy data with new geophysical survey results to prioritise follow-up work. This will include detailed mapping, additional rock chip sampling, further geophysical surveys, and targeted drilling to test the IOCG potential at depth. The company’s Managing Director, Dr Mike Jones, emphasised the significance of Huonville as the “final piece of the jigsaw” in their Broken Hill exploration strategy.
While the historical data provides promising indications, the true extent and continuity of mineralisation remain to be confirmed. Impact’s methodical approach and substantial land position position it well to unlock value in this underexplored gold district.
Bottom Line?
Impact Minerals’ Huonville acquisition cements its dominant Broken Hill position, setting the stage for a new phase of IOCG exploration.
Questions in the middle?
- Will upcoming magnetotelluric survey results confirm deeper IOCG targets at Huonville?
- How will Impact prioritise drilling targets given uncertainties in legacy data?
- What impact will rising metal prices have on the economics of potential discoveries here?