IMX intersects high-grade flake graphite at Chilalo

/in /by

THE DRILL SERGEANT: IMX Resources (ASX: IXR) has intersected high-grade graphite at the Chilalo project located on the company’s Nachingwea Property in Tanzania.

IMX had sent off selected samples for expedited analysis after identifying potential for high-grade mineralisation.

These preliminary assays were from recent Reverse Circulation (RC) drilling IMX had undertaken at one of the targets at the Chilalo project and have returned grades of up to 16.4 per cent total graphitic carbon (TGC) from near surface.

 

Drill hole locations – NRC14-140, NRC14-149 and step out holes. Source: Company announcement

 

IMX said visual inspection of samples recovered from subsequent step-out drilling had shown similar strongly graphitic material intersected in 11 holes over a strike length of 1.2 kilometres, which remains open down dip and to the north-east.

Other step-out intersections that appear to have intersected similar graphitic mineralisation include:

NRC14-157
31 metres from 16m;

NRC14-155
30m from 48m;

NRC14-156
18m from 7m; and

NRC14-154
23m from 18m.

“These are pleasing results which confirm the prospectivity of Chilalo and validate the company’s focus on regional exploration at Nachingwea, with our initial focus on Chilalo,” IMX Resources CEO Phil Hoskins said in the company’s announcement to the Australian Securities Exchange.

“The combination of these high grades, the widths of mineralisation we are seeing and the strike length outlined to date will underpin the maiden JORC resource we aim to complete early next year.

“At the same time, we will conduct metallurgical tests to understand the metallurgical characteristics of the mineralisation and to further ascertain the potential value of the Chilalo mineralisation.”

IMX indicated it has recently commenced a program of diamond drilling at Chilalo, which it says will assist in the definition of a Mineral Resource the company aims to complete in early 2015.

The drilling will also provide core for metallurgical test work to determine the flake size distribution of the deposit, flotation recoveries and concentrate grades.

Email: info@imxres.com.au

Website: www.imxresources.com.au