PERTH (miningweekly.com) – ASX-listed junior Impact Minerals has signed a letter of intent with TSX-V-listed BlueBird Battery Metals Incorporated over its Broken Hill silver/lead/zinc project, in New South Wales.
Under the terms of the farm-in, BlueBird could earn a 75% interest in the five exploration licences that comprise the Broken Hill project, by spending C$5.5-million, of which C$2.25-million would be on-ground exploration expenditure.
“We are very pleased to partner with BlueBird on the Broken Hill project. The management of BlueBird have a strong track record in exploration discovery and resource development, and they are committed to exploration success on their Australian portfolio,” said Impact MD Mike Jones.
“They have chosen to focus on the Broken Hill project because of its prospectivity for a wide range of metals that will form a critical part of the emerging market for batteries and renewable energy sources,” he added.
Jones said that the partnership was also a successful outcome of Impact’s strategic review of its asset portfolio, which was completed earlier this year, which had led to the divestment of its Pilbara gold project, and the start of drilling programmes at the Commonwealth project, in New South Wales, and the Clermont project, in Queensland.
“All of this forms part of our overall strategy of generating first class projects and finding partners where appropriate,” Jones said.