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IGO can earn a 51% interest by spending A$6 million and reach 75% by spending a further $12 million, with a minimum outlay of $500,000.
Impact said a "large amount of deep drilling will be required" at the project.
Nickel,copper and lithium miner IGO has exploration projects throughout Australia.
While still retaining other 100%-held ground in the Broken Hill region, Impact said it would now increase its focus on its Western Australian projects, Arkun and Doonia, particularly the latter which is located 30km east of Lefroy Exploration's Burns discovery.
Impact had $2.2 million at the end of September.
Shares in Impact were up 14% to 1.6c, capitalising the junior at $32 million.
