IMX high on the HOG

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THE DRILL SERGEANT: Reverse circulation (RC) drilling carried out by IMX Resources (ASX: IXR, TSX: IXR) has encountered up to 2.71 grams per tonne gold and multiple intersections of anomalous base metals from the HOG prospect, located 21km northeast of the company’s Ntaka Hill nickel sulphide project.

The HOG prospect is part of the company’s 100 per cent-owned Nachingwea property in south eastern Tanzania.

IMX drilled five RC drill holes to test an EM anomaly and associated gold-bearing gossanous outcrops at the HOG prospect during September.

 

HOG exploration results on Reduced to Pole (RTP) magnetics. Source: Company announcement

 

All holes intersected one or more pyritic sulphide zones over a 350m strike length.

Results from the drilling include:

–    19 metres at 0.86 per cent zinc and 0.15 grams per tonne gold from 49 metres, including 1.26 per cent zinc and 0.09 grams per tonne gold over 8 metres;

–    5m at 0.45 per cent zinc and 0.43g/t gold, including 0.94 per cent zinc and 0.88g/t gold over 1m;

–    2m of 1.16 per cent zinc, 0.58 per cent copper and 0.10g/t gold; and

–    14m at 0.43 per cent zinc and 0.39g/t gold from 25m, including 1m of 0.54 per cent zinc and 2.71g/t gold.

“This is an encouraging first result,” IMX Resources managing director Neil Meadows said in the company’s announcement to the Australian Securities Exchange.

“The HOG zinc-gold prospect is a significant discovery and demonstrates the potential for additional styles of mineralisation to be present on our Nachingwea property.

“Our next priorities are to confirm the presence of economic base metal sulphide and gold mineralisation, and secondly, to determine the dimensions of that mineralisation.

“The IMX board is keen to see this work progress rapidly.”

IMX discovered the HOG prospect gossan in late 2011 during a regional soil sampling program where grab samples assayed up to 4.96g/t gold.

The gossanous outcrops extend for 800 metres across a zone 25-180 metres wide along a low lying ridge and IMX considers the prospect to consist of many sub-outcropping and loose gossanous boulders.

Subsequent soil and grab sampling of the gossanous rock have outlined elevated gold values over a strike length of 1050m with new samples assaying up to 2.29g/t gold.