Impact Minerals has announced the acquisition of a significant 675km² landholding adjacent to its existing position near the Broken Hill silver-lead-zinc deposit in New South Wales, Australia.
This acquisition involves a deal with New Frontier Metals (NFM) to acquire its subsidiary BHA No. 1, which owns the Broken Hill East Project, comprising tenements EL8434 and EL8435.
In exchange, NFM will receive A$275,000 ($173,370) worth of Impact shares based on a 14-day volume-weighted average price as of 7 March 2025, and will be subject to a six-month voluntary escrow.
The completion of this transaction is expected to occur this week.
This acquisition builds on Impact’s previous research under the BHP Xplor programme, solidifying its position as a major ground-holder south of Broken Hill.
Research funded by the Xplor programme included mapping and sampling 655 rock chip samples across 99 mafic sills at Broken Hill, focusing on copper, lead, zinc and iron.
Additionally, detailed magnetic interpretation of the south Broken Hill area and geophysical case studies over the Dora East discovery were conducted.
With 100% ownership of tenements now covering 1,770km² and more than 100km of strike, Impact is well-positioned for future exploration.
The company is currently focused on completing the pre-feasibility study for the Lake Hope High Purity Alumina project in Western Australia.
However, a portion of the funds from the current rights issue announced last month will be directed towards developing key copper targets for drilling, which includes conducting ground geophysics over a newly identified sub-basin.
The Broken Hill region is witnessing renewed exploration interest. Recent activity includes Broken Hill Mines’ purchase of the Rasp Mine and Pinnacles deposit, and South32’s joint venture north of the Broken Hill mine.
This interest is driven by rising silver prices and long-term demand for zinc and lead.
In May 2024, German investor Susanne Bunnenberg increased her stake in Impact Minerals by acquiring an additional 450.2 million shares, raising her interest from 15.83% to 16.85%.
