IMX Resources extends Lionja mineralisation
THE DRILL SERGEANT: Recent drilling by IMX Resources (ASX: IXR, TSX: IXR) along the Ntaka – Lionja ultramafic trend, which extends eight kilometres south from the company’s Ntaka Hill nickel sulphide project in Tanzania, has intersected new high-grade and disseminated nickel sulphide mineralisation.
Project Location. Source: Company announcement
New diamond drilling has extended the nickel mineralisation in the Lionja ultramafic intrusion 400 metres to the west from previous drilling.
IMX said this has indicated an area of potential nickel mineralisation over a 500m by 600m area.
Four diamond drill holes were drilled to target extensions to the Lionja intrusion where previous drilling had reported up to 2.25m at 2.03 per cent nickel and 0.41 per cent copper.
Nickel sulphides intersected in the four new holes include:
– 1.07 per cent nickel and 0.10 per cent copper over 5m (including 0.6m at 7.1 per cent nickel and 0.44 per cent copper);
– 0.67 per cent nickel and 0.12 per cent copper over 8.4m (including 0.45m at 3.52 per cent nickel and 0.60 per cent copper); and
– 0.51 per cent nickel and 0.12 per cent copper over 8.8m.
All holes intersected wide intervals of disseminated nickel sulphide mineralisation, which IMX described to exhibit high nickel tenors similar to the Ntaka Hill sulphide zones.
As with the Ntaka Hill intrusion, the Lionja high grade lens occurs within a wider disseminated nickel sulphide halo.
“These latest results are great news for the company,” IMX Resources managing director Neil Meadows said in the company’s announcement to the Australian Securities Exchange.
“To date, our exploration activities have been largely focussed on the high-grade zones at Ntaka Hill.
“The Lionja intrusion at the southern end of the eight kilometre Ntaka–Lionja stratigraphic package represents the second mineralised ultramafic intrusion in the project and has the potential to host significant nickel mineralisation of a similar style and tenor to Ntaka Hill.
“This may have major implications for the growth of resources as well as the size and scale of the future development of our Ntaka Hill nickel sulphide project.”
IMX said the Lionja nickel mineralisation appears to be present over a significant strike and dip extent with new drilling showing potential for wider intervals and higher grade to the south.
A large portion of the mineralisation remains open and untested with further drilling required in order to define potentially economic zones of mineralisation closer to surface.
Two nickel-copper soil anomalies were also tested by two diamond drill holes with no significant results reported.