Impact Minerals (ASX:IPT) targets a new nickel-palladium discovery at Caligula

Few things in mineral exploration excite investors like a well-defined nickel-palladium anomaly coinciding with a strong geophysical conductor.

That’s precisely what Impact Minerals (ASX:IPT) has uncovered at its Caligula prospect, part of the Arkun Project, 150 kilometres east of Perth.

Nickel, Palladium, and a Strong Geophysical Target

Recent soil geochemistry results have confirmed a significant anomaly rich in nickel, palladium, gold, chromium, and cobalt.

Notably, this anomaly directly coincides with both an electromagnetic (EM) conductor and a Mobile Magnetotelluric (MMT) survey anomaly—strong indicators of magmatic nickel-copper sulphide potential.

Managing Director Dr Mike Jones sees a compelling opportunity:

“The strong correlation between elevated palladium, platinum, and gold-in-soil anomalies and key geophysical conductors identified in our previous ground-breaking MMT and EM surveys highlights the compelling targets we plan to drill soon after the closure of the current renounceable rights issue on March 21.”

A New Chapter in the South West Yilgarn

The South West Yilgarn region has long been overshadowed by Western Australia’s better-known nickel belts, but recent discoveries suggest its potential has been underestimated.

Caligula is positioned within an elliptical magnetic “eye” feature, a geological structure often associated with major nickel-copper sulphide deposits.

Government-Backed Drilling Set for Q2

Exploration is expensive, but Impact has secured a $180,000 co-funding grant under the WA Government’s Exploration Incentive Scheme (EIS) to support drilling in the coming quarter.

Two deep drill holes are planned to test the MMT and EM conductors underlying the soil geochemistry anomaly.

Jones is optimistic about the next phase:

“Our focus over the past 12 months has been on the Pre-Feasibility Study for the Lake Hope High Purity Alumina project, which is nearing completion. In the background, we have been developing the Caligula target for a maiden drill programme, which will be partially funded by the EIS grant. We hope to deliver another discovery in the emerging mineral field of the South West Yilgarn.”

Eyes on the Drill Bit

With nickel and palladium both playing critical roles in the energy transition, any discovery at Caligula would add momentum to Western Australia’s evolving battery metals sector.

The market will be watching closely as drilling gets underway.

Whether Caligula delivers on its geological promise remains to be seen, but with a well-defined anomaly, strong geophysical targets, and funding secured, Impact Minerals is positioning itself for a potential breakthrough.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.