IMX eyes Tomahawk Target

THE DRILL SERGEANT: IMX Resources identified an Exploration Target tonnage of 150 million tonnes to 230 million tonnes at 25 per cent to 35 per cent iron for the Tomahawk iron prospect, located 25 kilometres southeast of the Cairn Hill magnetite-copper mine in South Australia.

The new Tomahawk Exploration Target estimate brings the current global iron Exploration Target tonnage for the company’s 100 per cent-owned Mt Woods iron project to between 200Mt to 380Mt.

This figure includes the Exploration Target for the Bumblebee and Fitzgerald Dam iron prospects the company previously reported in November 2009.

 

Location of Tomahawk Exploration Target and untested magnetite anomaly targets. Source: Company announcement

 

“IMX is now approaching a potential one billion tonnes combined iron resources and targets for the Mt Woods iron project based on exploration target tonnages and the recently announced iron resource of over half a billion tonnes at Snaefell,” IMX Resources managing director Neil Meadows said in the company’s announcement to the Australian Securities Exchange.

“Our South Australian magnetite strategy is on track with the Mt Woods iron project continuing to develop into a major iron ore asset with enormous upside growth potential.”

The target tonnage was estimated along a 3km strike length of the main Tomahawk magnetite prospect.

IMX said it still has a number of other magnetic targets nearby, which it has yet to drill-test that missed out on being included.

The company is now planning a number of drill campaigns over the next nine months to test these and other targets with a view to adding them to the Mt Woods iron project global exploration target resource base.