IMX reports significant new nickel sulphide intersections at its Ntaka Hill Project
Monday, Mar 04, 2013IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) ('IMX' or the 'Company') is pleased to report significant new nickel sulphide intersections from the drilling campaign completed in November 2012 at the Zeppelin deposit, within the Ntaka Hill Nickel Sulphide Project (the 'Ntaka Hill Project').
The 20102 drilling campaign at Zeppelin consisted of nineteen diamond drill holes totaling 3,283m and tested a target generated by re-examination of previous drill hole results and information obtained from earlier soil sampling. Looking ahead, the Company plans to not only utilize existing electro-magnetic conductor data in identifying drill targets, but will also focus on soil geochemistry results together with the results from gravity survey work and other historical data available from previous exploration, a multi-layered approach not used before at Ntaka Hill. This is expected to enable the Company to compile models to predict the likely occurrence of mineralisation within the areas between Ntaka Hill and Lionja.
Managing Director Neil Meadows commented: "We are excited by the results of the Zeppelin drilling which further confirm the existence of additional mineralisation in close proximity to Ntaka Hill. 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. 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."
Figure 1 on the following page shows the 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. The Company has previously delineated a Measured and Indicated Mineral Resource of 12.79Mt at 1.21% Ni for 154,700 tonnes of contained nickel together with an Inferred Mineral Resource of 45.0Mt at 0.30% Ni for 135,000 tonnes of contained nickel.1