IMX Resources confirms Chilalo graphite potential

THE DRILL SERGEANT: IMX Resources (ASX: IXR) has claimed to have confirmed and expanded the graphite potential of the company’s Nachingwea Property, located in south-east Tanzania.

The claims follow the completion of initial geophysical analysis on VTEM survey data sets covering the majority of IMX’s 6,800 square kilometre tenement holding.

IMX said the VTEM analysis has confirmed the Chilalo prospect as the highest-priority graphite target within the broader Nachingwea Property, with the prospect being shown to be composed of multiple layers of interpreted graphite horizons ranging in thickness from 50 metres to plus-200m.

The company indicated it expects to be drilling at Chilalo in October 2014 to test the best targets, confirm the extent of the mineralisation, grades, flake size fractions and provide samples for metallurgical test work.

IMX said the VTEM analysis also identified the Chilalo North prospect, located to the north-east of Chilalo, which measures approximately 300m by 500m and is considered by the company to potentially host high-grade graphite mineralisation.

 

Chilalo targets generated from analysis of VTEM data. Source: Company announcement

 

Three rock chip samples collected from the Chilalo North prospect have been assayed, returning grades of 17.5 per cent, 17.6 per cent and 19.5 per cent carbon.

“Based on the success of this initial analysis, and in light of Nachingwea’s proximity to other high-grade graphite resources, we are very enthusiastic about the graphite potential of the Chilalo and Chilalo North prospects and the Nachingwea Property more broadly,” IMX Managing Director Gary Sutherland said in the company’s announcement to the Australian Securities Exchange.

“We look forward to getting an initial drilling program underway.”

The geophysical analysis followed up rock chip results IMX reported from Chilalo in July, where 65 rock chip samples returned grades of between 4.8 per cent and 29.6 per cent carbon, with an average grade of 12.9 per cent carbon.

A total of 41 rock chips returned grades of greater than 10 per cent carbon.

IMX has previously intersected graphite at the company’s Ntaka Hill project, 20km south-west of Chilalo, whilst targeting nickel sulphide mineralisation.

Email: info@imxres.com.au

Website: www.imxres.com.au