Impact Minerals Advances Lake Hope HPA and Uncovers New Gold-Silver Zone at Commonwealth

Lake Hope Project Moves Toward Definitive Feasibility

Impact Minerals Limited (ASX:IPT) has taken a significant step forward with its Lake Hope High Purity Alumina (HPA) project in Western Australia, advancing from a robust pre-feasibility study to pilot plant operations and preparatory work for a Definitive Feasibility Study (DFS). The pilot plant programme, underway at Edith Cowan University, focuses on refining the patented processing flow sheet that transforms sulphate minerals from Lake Hope’s salt lakes into 4N purity alumina, a critical material used in semiconductor manufacturing and advanced ceramics.

The project’s economics remain compelling, boasting a post-tax net present value (NPV) of A$1.165 billion and an internal rate of return (IRR) of 47.5%, based on a 10,000-tonne annual production rate and a 33-year mine life. Capital expenditure is estimated at A$259 million with a payback period of just over two years, figures that continue to hold as the company confirms no material changes to the underlying assumptions from the June 2025 pre-feasibility study.

Technical progress includes vendor qualification reviews for key capital equipment, notably the alumina calciner and acid regeneration technologies, both critical to optimising operational costs. Metallurgical testing is ongoing, with detailed mineralogy and assays being conducted internationally to ensure the HPA meets stringent purity standards required for semiconductor applications, particularly low uranium and thorium levels to avoid alpha radiation interference.

Salmon Gums Potash Project Advances with Resource Targeting

At Salmon Gums, also in WA, Impact is progressing its potash and hydrochloric acid project, aiming to convert an Exploration Target of 3.8 to 4.3 million tonnes of sulphate clay into a maiden Mineral Resource Estimate later this year. The project targets sulphate of potash (SOP), a high-value fertiliser, alongside hydrochloric acid production, with a scoping study due for completion in the September quarter.

Recent drilling at the Kumarl prospect has provided assay data currently under interpretation, while metallurgical and process modelling work continues to refine capital and operating cost estimates. The company is favouring off-the-shelf technologies to reduce project risk and has engaged independent consultants to validate process flow and crystallisation steps.

Commonwealth–Silica Hill JV Delivers 100% Drilling Success with New Discovery

Impact’s joint venture partner Kuniko Limited (ASX:KNI) has completed its inaugural drilling campaign at the Commonwealth–Silica Hill gold-silver project in New South Wales with mineralisation intersected in all six holes. Drilling extended known high-grade zones and uncovered a new discovery at Silica Hill, including a bonanza-grade vein with 27 g/t gold and over 20,000 g/t silver at 230 metres depth, approximately 100 metres beyond previous resource limits.

Highlights include a 3.8-metre intercept grading 6.5 g/t gold, 385 g/t silver, and 11.5% zinc at Commonwealth Main, confirming continuity and depth extensions of massive sulphide lenses. The Phase 2 drilling programme commenced post-quarter, targeting extensions at all prospects with a resource upgrade scheduled for December 2026. Kuniko is on track to earn 51% of the project by funding exploration expenditures.

Alluminous Pilot Plant and Battery Technology Collaboration Progress

Impact retains a 50% stake in Alluminous Pty Ltd, which is commissioning a pilot plant in Perth to produce HPA from chemical feedstock, with potential to substitute Lake Hope ore. The plant operates in batch mode focusing on aluminium hydroxide precipitation, a precursor to HPA.

Notably, a joint development with New York-based battery technology firm Charge CCCV LLC (C4V) has successfully completed particle engineering of HPA, confirming the material’s purity and suitability for lithium-ion battery separator coatings. This milestone advances the path toward commercial battery qualification, underpinning Alluminous’s strategy to establish a North American production facility supported by critical minerals fund manager Amvest.

Corporate Leadership and Financial Position

Reflecting its transition from exploration to development, Impact appointed Jim McKerlie as Independent Non-Executive Chair in June 2026. McKerlie brings a track record of steering ASX-listed resource companies through growth phases, including leading Drillsearch Energy’s expansion and merger with Beach Energy.

Financially, Impact ended the quarter with A$2.08 million in cash and equivalents, having spent A$742,000 on exploration and evaluation and A$540,000 on corporate administration. The company holds a market capitalisation of approximately A$20.15 million based on 516.8 million shares at A$0.039 each.