IMX makes magnetite discovery at Tomahawk

THE DRILL SERGEANT: Perth-based iron ore producer, IMX Resources has claimed the discovery of magnetite at its Tomahawk iron ore prospect, located 25 kilometres southeast of the Cairn Hill magnetite-copper mine in South Australia.

IMX completed a program of six RC drill holes completed at Tomahawk in late 2011 with all holes returning magnetite iron intersections.

 

Tomahawk drillhole and section location on magnetics. Source: Company announcement

 

“The Tomahawk discovery confirms our strategy of developing regional iron projects that can utilise existing mining and transport infrastructure associated with the Cairn Hill mine,” IMX Resources managing director Neil Meadows said in the company’s announcement to the Australian Securities Exchange.

“In Snaefell, and now Tomahawk, we have two regional magnetite iron projects with the potential to significantly enhance the long-term economics of IMX’s mining operations.”

IMX has previously said it considers the Tomahawk iron ore target to be the strongest magnetic anomaly in the area south of Cairn Hill.

Tomahawk has a strike length of approximately 3.4km. IMX has conducted drilling on the easternmost 500m of the anomaly, which indicated the mineralisation to be open along strike and at depth.

The company said it is now planning for further exploration and metallurgical testwork on the prospect.