Oct 9 2012
IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') reports new high grade nickel sulphide intersections from the on-going Sleeping Giant infill drilling program at the Ntaka Hill Nickel Sulphide Project.
Highlights
- Multiple nickel intersections from the higher grade core of Sleeping Giant including:-◦13.75m at 1.42% Ni and 0.36% Cu from 158.25m
- 5m at 2.14% Ni and 0.39% Cu from 235m including 0.6m at 14.75% Ni and 2.57% Cu
- 9m at 1.06% Ni and 0.38% Cu from 188m including 0.55m at 4.95% Ni and 2.29% Cu
- Wide zones of disseminated hanging wall nickel sulphide mineralisation confirmed including:-
- 83m at 0.52% Ni and 0.12% Cu from 52m including 11m at 1.0% Ni and 0.26% Cu
- 88.2m at 0.38% Ni and 0.08% Cu from 114.8m including 11.3m at 0.59% Ni and 0.13% Cu
- Sulphide lens northeast of Sleeping Giant extended 50m south:-
- 12m at 1.21% Ni and 0.39% Cu from a wider 33m interval at 0.83% Ni and 0.22% Cu from 184m
The project is located approximately 250km west of the port town of Mtwara, and is part of the 100% owned Nachingwea property in south eastern Tanzania.
Managing Director Neil Meadows said, "We are very encouraged by the new high grade results from the infill drilling which is continuing to demonstrate overall continuity of both the Sleeping Giant and overlying hanging wall zones of mineralisation. Our analysis of the mineralogy from the drill assays also indicates that the mineralisation intersected will exhibit the same excellent metallurgical performance that we have demonstrated in our test work to date.
"These results will be included in an updated resource estimate due for release in the first quarter of 2013. Our geological team continues to test the exploration potential of this evolving nickel sulphide camp. IMX is committed to further drilling to enhance the already robust economics of development of the Ntaka Hill Nickel Sulphide Project."
To mid-September a total of 52 holes for 13,864m have been drilled at Sleeping Giant as part of a 16,000m diamond drilling program to upgrade the current mineral resource classifications, expand the higher grade core of the zone, and to further define the near surface zones of hanging wall disseminated mineralisation within the northern, shallower half of the deposit area at Ntaka Hill.
Sleeping Giant - 'Higher Grade Core'
Infill drilling within the Sleeping Giant Zone has returned multiple intersections greater than 1.0% Ni that are interpreted to represent the more sulphidic 'high grade core' of the zone. These lenses consist of heavily disseminated sulphides locally, with narrow very high grade semi-massive and massive sulphide stringers and veins. Recent results include 5m at 2.14% Ni and 0.39% Cu from 235m in NAD12-286 which includes a higher grade zone of 0.6m at 14.75% Ni and 2.57% Cu. This is particularly encouraging as it confirms that Sleeping Giant has the same high tenor nickel mineralisation as the other high grade Ntaka Hill zones such as NAD13 as well as the wider disseminated nickel zone that makes up the bulk of the deposit.
Sleeping Giant - 'Overlying Disseminated Hanging Wall'
Infill drilling continues to intersect large volumes of disseminated sulphide mineralisation in the hanging wall overlying the Sleeping Giant zone. This mineralisation typically averages between 0.1 and 0.6% Ni, and locally includes higher grade intervals averaging between 0.5 and 1.0% Ni over 5 to 20m. Two recent intersections include 83m at 0.52% Ni and 0.12% Cu from 52m including 11m at 1.0% Ni and 0.13% Cu (NAD12-293) and 88.2m at 0.38% Ni and 0.08% Cu from 114.8m (NAD12-282).
Source: www.imxresources.com.au