IMX Resources hits new nickel at Ntaka Hill

THE DRILL SERGEANT: IMX Resources (ASX: IXR) has reported new nickel sulphide intersections from a drilling campaign it carried out in November 2012 at the Zeppelin deposit, situated within the company’s Ntaka Hill nickel sulphide project in Tanzania.

The drilling campaign at Zeppelin consisted of nineteen diamond drill holes and tested a target the company had generated by re-examination of previous drill hole results and information obtained from earlier soil sampling.

Mineralisation was encountered in fourteen of the nineteen drill holes with results including:

–    37 metres at 0.71 per cent nickel and 0.15 per cent copper from 129 metres, including 8 metres at 1.13 per cent nickel and 6 metres at 1.65 per cent nickel;

–    26.7m at 0.77 per cent nickel and 0.15 per cent copper from 93mm, including 2.1m at 2.8 per cent nickel;

–    30.1m at 0.69 per cent nickel and 0.16 per cent copper from 123m, including 2.1m at 1.87 per cent nickel; and

–    60m at 0.46 per cent nickel and 0.11 per cent copper from 39m, including 5m at 1.01 per cent nickel.

“We are excited by the results of the Zeppelin drilling which further confirm the existence of additional mineralisation in close proximity to Ntaka Hill,” IMX Resources managing director Neil Meadows said in the company’s announcement to the Australian Securities Exchange.

“First up success from the application of a multi-layered approach to target generation at Ntaka Hill is extremely encouraging and as a result of this success we are now even more confident that there is additional mineralisation to be found in close proximity to the current known Resources at Ntaka Hill.”

 

Location of the Zeppelin deposit and its proximity to the Sleeping Giant
resource and other areas of known mineralisation on the Ntaka Hill
project area. Source: Company announcement

 

IMX Resources indicated it now plans to combine existing electro-magnetic conductor data in identifying drill targets as well as results from soil geochemistry and rom gravity survey work and historical data available from previous exploration to construct a multi-layered exploration approach at Ntaka Hill.

The company expects this approach will enable it to compile models to predict the likely occurrence of mineralisation within the areas between Ntaka Hill and Lionja.

“As part of the 2013 exploration program, we will also be introducing the most appropriate electro-magnetic and induced polarization technology to enable us to better target the near-surface, higher grade mineralisation evident in these intersections,” Meadows said.

IMX Resources has previously delineated a Measured and Indicated Mineral Resource of 12.79 million tonnes at 1.21 per cent nickel for 154,700 tonnes of contained nickel together with an Inferred Mineral Resource of 45 million tonnes 0.30 per cent nickel for 135,000 tonnes of contained nickel.