IMX Resources claims new nickel zone discovery

THE DRILL SERGEANT: IMX Resources (ASX: IXR) has received the latest drilling results from the company’s Ntaka Hill nickel sulphide project in south-eastern Tanzania.

IMX claims the results have confirmed the discovery of a new zone of nickel sulphide mineralisation immediately adjacent to the current resources.

The new zone, referred to as “P Zone”, lies approximately 400 metres east of the existing Zeppelin and Sleeping Giant deposits, which host the current resources at Ntaka Hill, and 700m south of ‘G’ and ‘J’ Zones.

 

Ntaka Hill – location of P Zone relative to current resources. Source: Company announcement

 

Results include:

11.4 metres at 0.51 per cent nickel and 0.15 per cent copper from 211 metres down-hole (NAD13-369);

2m at 1.1 per cent nickel from 266m and 3.4m at 1.2 per cent nickel from 272.4m down-hole (NAD13-375);

3m at 0.4 per cent nickel from 186m down-hole (NAD13-376); and

17m at 0.4 per cent nickel from 223m and 9.3m at 0.4 per cent nickel from 272.7m down-hole (NAD13-377).

Recent drilling at Ntaka Hill has been designed to test potential extensions to the
J, G, M, and P Zones to establish the broader scale and potential of the project to host a nickel sulphide system.

IMX said modelling of P Zone indicates it is potentially an up-dip extension of the mineralisation at Zeppelin and Sleeping Giant to the west and south-west.

Based on this interpretation, the joint venture believes there is potential to increase the size of the Sleeping Giant and Zeppelin resources with further drilling.

“We are particularly encouraged by the discovery of a significant new area of mineralisation at P Zone which appears to be the up-dip extension of the main deposits,” IMX Resources acting managing director John Nitschke said in the company’s announcement to the Australian Securities Exchange.

“This confirms that Ntaka Hill hosts multiple zones of mineralisation that appear to be linked and clearly have the potential to form part of a very sizeable, single deposit.

“Our work suggests that this system is approximately 1.5 kilomteres wide and remains open to the south and east.

“More drilling will be required to define the broader extent of this very large system and also to help us to vector in on higher grade zones of mineralisation within it.

“Extensive programs of ‘deep-looking’ geophysical surveys are also underway to test the broader potential of the Ntaka Hill-Lionja corridor.

“Results from this work should be available early in the New Year, providing drill targets for the 2014 drilling season.”

Exploration at Ntaka Hill is being managed and sole funded by IMX’s joint venture partner, MMG Exploration Holdings, under a US$60 million earn-in joint venture.

Email:
info@imxresources.com.au

Website:
www.imxresources.com.au