IMX confirms high-grade graphite at Chilalo

/in /by

THE DRILL SERGEANT: IMX Resources (ASX: IXR) has received final assay results from diamond drilling completed last year at the company’s Chilalo graphite project in south-east Tanzania.

The company claims the results reinforce the potential for a sizeable graphite resource at Chilalo as the diamond drilling results correlate with those from a twinned Reverse Circulation (RC) drilling program.

IMX said these results could lead to a maiden JORC 2012 Mineral Resource estimate for the project.
 
The final assay results from the 2014 diamond drill program included:

Hole DD067
24 metres at 12.29 per cent total graphitic carbon (TGC) (twinned from Hole RC140 which returned 24m at 11.7 per cent TGC);

Hole DD068
24m at 12.5 per cent TGC (twinned from Hole RC157 which returned 24m at 13.1 per cent TGC);

Hole DD069
12m at 10.2 per cent TGC and 10m at 9.64 per cent TGC (twinned from Hole RC151 which returned 20m at 7.2 per cent TGC); and

Hole DD070

16m at 10.3 per cent TGC and 16m at 7.4 per cent TGC (twinned from Hole RC154 which returned 16m at 11.7 per cent TGC and 16m at 5.9 per cent).

 

Location of RC and diamond drilling with notable intersections. Source: Company announcement

 

IMX indicated the diamond drilling core samples will undergo metallurgical testwork in order to glean information regarding the flake size distribution of the deposit, flotation recoveries and concentrate grades as well as providing enough core for marketing samples to be prepared.

The company explained its metallurgical testwork program and resource calculation are progressing, with both expected to be completed in March 2015.

“The Chilalo project is emerging as an exciting opportunity for IMX,” IMX Resources acting CEO Phil Hoskins said in the company’s announcement to the Australian Securities Exchange.

“We have made outstanding progress in the six months since completing a desktop review of the graphite potential at Nachingwea.

“We are looking forward to receiving the results of both the metallurgical testwork and the resource estimation.

“Our initial objective was to rapidly assess Chilalo’s potential against competing graphite projects internationally.

“With this work almost complete, we look forward to putting Chilalo on the map as one of the highest quality, undeveloped graphite deposits in the world.

“We expect to receive initial results from the recently commenced high-level development study on Chilalo next month, and this, together with the maiden resource and metallurgical testwork, should pave the way for us to progress to the next stage.”

Email: info@imxres.com.au

Website: www.imxresources.com.au