Dec 20 2012
IMX Resources Limited is pleased to report that in-fill drilling on 50m sections continues to intersect wide intervals of nickel mineralisation at Sleeping Giant. The mineralisation is characterised by higher grade remobilised massive and net-textured nickel sulphides within broader disseminated zones.
During 2012, 65 in-fill diamond drill holes totalling 16,692m were completed on 50m centers over the northern half of Sleeping Giant. The results reported here were completed on seven drill sections extending from 3400N to 3850N. A summary of assay results for 26 holes totalling approximately 7,891m are reported in Appendix 1 and highlight intercepts are shown in Figure 1. Further assay results from late season drilling are pending.
These results suggest that Sleeping Giant and L zone are linked and that high-grade net-textured to semi-massive mineralisation has been found in the footwall at the western end of Sleeping Giant.
The drill results from this season's campaign have increased the understanding of the structure, stratigraphy and nature of the mineralization at Sleeping Giant. These new results will be integrated into a new resource model that the Company expects to announce during the first quarter of 2013.
Managing Director Neil Meadows commented: "We are very encouraged by the latest high-grade results from the in-fill drilling which is continuing to demonstrate overall continuity of the Sleeping Giant mineralisation. We are confident that there are further zones of high-grade mineralisation to be discovered at Ntaka Hill, utilising the new and improved exploration techniques that IMX's team has brought to the exploration effort."
To view "Figure 1: Sleeping Giant drill intercepts over RTP vertical gradient magnetics (December 2012)", please visit the following link: http://media3.marketwire.com/docs/ixr-map-1219.pdf.
Competent Persons / Qualified Person / NI 43-101 Statement
Information in this announcement relating to exploration results is based on data collected under the supervision of, or compiled by, Patricia Tirschmann, P. Geo., who holds the position of Vice President, Exploration and is a full-time employee of IMX. Ms. Tirschmann is a registered member of the Association of Professional Geoscientists of Ontario and has sufficient relevant experience to qualify as a Competent Person under the 2004 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ms. Tirschmann consents to the inclusion of the data in the form and context in which it appears.
Quality Control
The drilling was completed by Capital Drilling (Tanzania) Limited. Drill core samples (NQ) are cut in half by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 metre intervals or less at the discretion of the site geologists. Sample preparation is completed at the ALS Chemex preparation lab in Mwanza, Tanzania. Sample pulps are sent by courier to the ALS Chemex analytical laboratory in Vancouver, Canada. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (Analytical Code ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay with an ICP-AES finish (Analytical Code PGM-ICP23).
Cautionary Statement: Readers are also cautioned to review the risk factors identified by IMX in its regulatory filings made from time to time with the ASX, TSX and applicable Canadian securities regulators.
Source: http://www.imxresources.com.au/