🕐24.03.10 - 02:38 Uhr

Impact Minerals Limited [IPT] - Uranium Discovery by Impact at Lekobolo Prospect, Botswana



Market Cap
A$21m ($0.18 p/s)
Issued Capital
117,403,328
Directors
Peter Unsworth
Chairman
Michael Jones
Managing Director
Rodney Fripp
Executive Director
Paul Ingram
Non-Executive Director
Mark Pitts
Company Secretary
www.impactminerals.com.au
309 Newcastle Street
Northbridge
Western Australia 6003
tel +61 (8) 6454 6666
fax +61 (8) 6454 6667
email

ASX ANNOUNCEMENT
ASX: IPT
Date: 24th March 2010
Number: 138/240310
URANIUM DISCOVERY BY IMPACT AT
LEKOBOLO PROSPECT, BOTSWANA
• Maiden drill programme discovers significant uranium
mineralisation over an area of 3,000 m x 500 m at Impact"s 100%
owned Lekobolo Prospect in eastern Botswana;
• Much of the mineralisation is at less than 25 m depth;
• Campaign comprised broad‐spaced reconnaissance reverse
circulation drill programme of 59 holes for a total of 2,294 m
drilled at intervals of between 400 m and 1,000 metres;
• 27 of these holes returned anomalous uranium results;
• Best downhole gamma probe results include:
(i) 16 m at 119 ppm eU3O8 from 0.2 m in LBRC004,
including 7.0 m at 201 ppm eU3O8 from 1.2 m;
(ii) 12 m at 143 ppm eU3O8 from 1.2 m in LBRC007,
including 4.0 m at 309 ppm eU3O8 from 2.0 m; and
(iii) 13.8 m at 106 ppm eU3O8 from 1.2 m in LBRC032,
including 5.8 m at 174 ppm eU3O8 from 3.6 metres.
• Many other areas of anomalous drill and soil results remain open
and untested at Lekobolo and follow up exploration including
drilling is being planned.
UPDATE ON OTHER BOTSWANA URANIUM PROSPECTS
• At the Kodibeleng Prospect field checking and hand‐held
spectrometer measurements of rocks and soils have confirmed
several drill targets previously identified in the soil geochemistry
surveys;
• At the Sua Prospect interpretation of soil geochemistry results is in
progress and will be reported soon;
• At the Ikongwe and Shoshong Prospects soil sample programmes
have been completed and the samples are enroute to Perth; and
• A significant programme of follow up exploration and drilling to
test the key targets identified will commence in the next Quarter.
Results of Maiden Reconnaissance Drilling at Lekobolo:
Significant near‐surface Uranium Mineralisation
Drill results from reconnaissance drilling by Impact at the Lekobolo Prospect have defined
significant near‐surface uranium mineralisation over an area of 3,000 m by 500 metres.
Lekobolo is located 20 km along strike from and covers the south western extension of the
host rocks to the uranium mineralisation at the large Letlhakane deposit (owned by A‐Cap
Resources Ltd).
Impact"s drill programme comprised 59 reverse circulation (RC) drill holes for a total of
2,294 m at a very broad drill hole spacing of 1,000 m by 400 m, with more detailed drilling at
a spacing of 500 m by 400 m in the eastern part of the Prospect area (Figure 1).
Significant drill intercepts are listed in Table 1 and mainly occur in the east of the area drilled
(Figures 1 and 2).

Anomalous intercepts were returned from 27 holes and a complete listing
of these is given at the end of this report.
TABLE 1
Hole
Number
Northing Easting From To Thickness Grade
(ppm eU3O8)
Cutoff
(ppm eU3O8)
LBRC004 7559000 517000 0.2 16.2 16.0 119 50
including 1.4 8.4 7.0 201 100
LBRC007 7559400 518000 1.2 13.2 12.0 143 50
including 2.2 6.2 4.0 309 100
16.0 19.8 3.8 90 50
including 17.2 19.2 2.0 116 100
LBRC026 7557400 512000 17.0 28.2 11.2 78 50
including 22.0 22.6 0.6 120 100
and 25.6 27.8 2.2 108 100
LBRC030 7559400 516500 0.4 24.8 24.4 80 50
including 16.0 17.4 1.4 167 100
and 19.4 23.8 4.4 136 100
LBRC032 7559000 517500 1.2 15.0 13.8 106 50
and 3.6 9.4 5.8 174 100
LBRC034 7559400 517500 1.8 7.2 5.4 55 50
9.8 14.4 4.6 106 50
including 10.0 11.6 1.6 131 100
and 13.2 14.2 1.0 187 100
LBRC041 7559600 516000 2.0 18.6 16.6 73 50
including 6.8 10.4 3.6 116 100
22.6 28.8 6.2 56 50
LBRC047 7559000 507000 16.2 21.8 5.6 85 50
including 17.8 19.8 2.0 125 100
Mineralisation occurs as a broad flat‐lying zone from surface down to 24 m depth that is up
to 3,000 m by 500 m in dimension and is hosted by weathered carbonaceous mudstone,
sandstone and conglomerate of the Karoo Supergroup (Figures 1 and 2).
Thinner zones of higher grade mineralisation occur within this mineralised zone, commonly
at the contacts between units of carbonaceous mudstone with sandstone and conglomerate.
Interpretation of geological and airborne magnetic data indicates that the mineralisation
occurs within an east‐west trending, fault‐controlled Karoo‐aged palaeochannel or
sedimentary sub‐basin (Figure 2).

A section along this channel suggests there may be good
continuity of mineralisation over at least 3 km (Figure 3).
Further Exploration at Lekobolo
The geological setting at Lekobolo is very similar to that at other Karoo‐aged deposits such
as the adjacent Letlhakane project and at the high grade Kyelekera Mine in Malawi owned
by Paladin Energy Limited.

At both these deposits higher grade uranium mineralisation
occurs close to faults.

At Lekobolo the faults associated with the palaeochannel, and their
environs, have not been drill tested.
This mineralisation is open to the east and there are two other areas of anomalous uranium
mineralisation, also associated with uranium‐in‐soil responses, that are open (Figure 1).
In addition there are four other uranium‐in‐soil response anomalies that are untested in the
Lekobolo area (Figure 1).
Future work to be considered will include infill and step‐out drilling of the eastern
mineralised zone as well as reconnaissance drilling of the untested targets.
Exploration Progress at other Botswana Uranium Prospects
(i) Kodibeleng Prospect
Field checking of areas containing elevated uranium‐in‐soil responses reported previously
from the Kodibeleng area has confirmed that several areas with outcrops of sandstone and
siltstone contain very anomalous amounts, up to 197 ppm eU (as measured with a handheld
spectrometer).

These areas are being prioritised for drill testing to commence in the next
Quarter.
(ii) Sua Prospect
Interpretation of the soil geochemistry results from the Sua Prospect is in progress and will
be reported shortly.
(iii) Ikongwe and Shoshong prospects
Soil sampling programmes on the Ikongwe and Shoshong Prospects have been completed
and samples are in transit to the laboratory in Perth.
The Company is planning a significant programme of follow up work, that will include
drilling, to test the key targets at each of these prospects and to commence in the next
Quarter.

Further details will be announced in the near future.
Dr Michael G Jones
Managing Director
The review of exploration activities and results contained in this report is based on information
compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists.

He is a director of
the company and works full time for Impact Minerals Limited.

He has sufficient experience which is
relevant to the style of mineralisation and types of deposits under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of
the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves (the
JORC Code).

Mike Jones has consented to the inclusion in the report of the matters based on his
information in the form and context in which it appears.
Gamma probing was conducted by Geotron Systems (Pty) Ltd of South Africa.

Auslog and Geotron
equipment was used for the survey and all probes were calibrated at the Pelindaba Calibration facility
in South Africa with calibration certificates supplied by Geotron.
All eU3O8 values reported may be affected by issues such as possible disequilibrium and uranium
mobility which should be taken into account when interpreting the results.

The Company will select
drill hole intercepts for geochemical assay to verify the gamma probe results.
Figure 1.

Location of drill holes and results of MMI soil sampling at the Lekobolo Prospect.
Figure 2.

Close up of drill results from east part of Lekobolo Prospect.
Figure 3.

Section along interpreted Karoo Palaeochannel.
Impact"s Botswana Uranium Project (100% Impact)
Impact"s Prospecting Licences in Botswana cover 350 km of the strike extensions of rocks that
host many significant uranium deposits throughout southern Africa, including Letlhakane
(Figure A).
The large Letlhakane Project is owned by A‐Cap Resources Limited which has reported an
Inferred Resource of 158 Mlb of uranium oxide at an average grade of 154 ppm at a cut‐off
grade of 100 ppm, in deposits hosted by near‐surface calcrete and by Karoo Group
sedimentary rocks.
Impact"s licences are prospective for three types of uranium deposits:
• deposits hosted by Karoo sedimentary rocks, which host a number of large uranium
deposits throughout southern Africa, including at Letlhakane;
• uranium hosted by calcrete in Cainozoic palaeochannels, a style of mineralisation well
known in Australia and Namibia; and
• deposits within playa (salt) lakes which, in Australia and elsewhere in Africa, are
known to host significant uranium deposits.
Impact has identified 18 areas for follow up work with a combined strike length of more than
400 km within its licences (Figure A).

These generally comprise elongate regions within
which there are variably exposed calcrete outcrops and/or outcrops of prospective Karoo
sedimentary rocks.

Many have elevated surface uranium responses in the regional airborne
radiometric data and in ground spectrometer readings.
Five priority targets have been identified by Impact and these are Lekobolo, Sua,
Kodibeleng, Ikongwe and Shoshong (Figure A and ASX release dated 8th September 2009).
Impact"s targets in Botswana have the potential to host very large deposits of uranium
mineralisation in a country ranked in first place by the Fraser Institute in its 2009 survey of
Mining jurisdictions in Africa.
Figure A.

Geology and Location of Priority Targets within Impact"s 100%‐owned
Botswana Uranium Project.
Hole
Number Northing Easting From To Thickness
Avg.

Grade
(ppm eU3O8) Cutoff
LBRC002 7559000 516000 3.4 6.6 3.2 53 50
8.8 13.2 4.4 57 50
16.2 19.6 3.4 78 50
including 17.6 18.0 0.4 108 100
21.4 26.8 5.4 64 50
including 25.2 25.4 0.2 103 100
32.0 34.2 2.2 61 50
LBRC003 7559400 516000 5.0 17.2 12.2 61 50
19.4 26.4 7.0 62 50
including 19.8 20.0 0.2 109 100
28.0 30.4 2.4 61 50
33.0 35.2 2.2 79 50
including 33.2 33.6 0.4 101 100
41.0 42.4 1.4 52 50
LBRC004 7559000 517000 0.2 16.2 16.0 119 50
including 1.4 8.4 7.0 201 100
LBRC005 7559400 517000 1.8 20.6 18.8 70 50
including 15.4 16.6 1.2 103 100
and 17.4 17.8 0.4 105 100
and 19.4 19.8 0.4 104 100
LBRC006 7559800 517000 9.0 10.2 1.2 77 50
LBRC007 7559400 518000 1.2 13.2 12.0 143 50
including 2.2 6.2 4.0 309 100
and 9.0 9.4 0.4 116 100
and 12.8 13.0 0.2 105 100
16.0 19.8 3.8 90 50
including 17.2 19.2 2.0 116 100
LBRC013 7559400 515000 34.2 35.4 1.2 53 50
51.2 52.6 1.4 57 50
LBRC015 7560600 515000 15.4 16.6 1.2 52 50
LBRC016 7561000 515000 10.2 14.4 4.2 62 50
16.0 17.0 1.0 63 50
20.0 31.0 11.0 87 50
including 20.2 22.4 2.2 108 100
and 24.4 28.0 3.6 113 100
36.0 37.2 1.2 53 50
Hole
Number Northing Easting From To Thickness
Avg.

Grade
(ppm eU3O8) Cutoff
LBRC017 7559400 514000 49.6 50.8 1.2 57 50
LBRC018 7559800 514000 45.8 51.8 6.0 65 50
including 50.0 50.2 0.2 110 100
and 51.2 51.4 0.2 113 100
LBRC019 7560200 514000 42.8 52.0 9.2 60 50
47.4 47.6 0.2 115 100
49.6 49.8 0.2 123 100
LBRC022 7560200 513000 13.4 15.6 2.2 52 50
LBRC023 7559800 513000 51.8 52.6 0.8 72 50
55.6 60.8 5.2 54 50
LBRC025 7560600 513000 11.0 12.2 1.2 53 50
LBRC026 7557400 512000 17.0 28.2 11.2 78 50
including 22.0 22.6 0.6 120 100
and 25.6 27.8 2.2 108 100
LBRC029 7559000 516500 3.6 15.6 12.0 57 50
including 9.4 10.4 1.0 120 100
and 13.4 13.8 0.4 127 100
17.0 19.2 2.2 49 50
LBRC030 7559400 516500 0.4 24.8 24.4 80 50
including 16.0 17.4 1.4 167 100
and 19.4 23.8 4.4 136 100
LBRC031 7559800 516500 4.8 5.8 1.0 52
LBRC032 7559000 517500 1.2 15.0 13.8 106 50
including 1.6 2.0 0.4 107 100
and 3.6 9.4 5.8 174 100
LBRC034 7559400 517500 1.8 7.2 5.4 55 50
9.8 14.4 4.6 106 50
including 10.0 11.6 1.6 131 100
and 13.2 14.2 1.0 187 100
LBRC035 7559800 517500 8.6 9.6 1.0 51 50
LBRC040 7559800 516000 1.6 6.8 5.2 61 50
LBRC041 7559600 516000 2.0 18.6 16.6 73 50
including 6.8 10.4 3.6 116 100
20.2 21.4 1.2 51 50
22.6 28.8 6.2 56 50
LBRC043 7560600 514000 5.8 11.8 6.0 58 50
15.2 25.4 10.2 53 50
Hole
Number Northing Easting From To Thickness
Avg.

Grade
(ppm eU3O8) Cutoff
LBRC047 7559000 507000 16.2 21.8 5.6 85 50
including 17.8 19.8 2.0 125 100
LBRC050 7559400 508000 16.4 19.2 2.8 84 50
including 17.0 17.2 0.2 102 100
and 18.2 19.0 0.8 134 100




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