Welcome!

News Feed Item

IMX Resources Limited: Exploration Discovers New Near Surface Nickel Sulphide Mineralisation at Ntaka Hill

Highlights

WEST PERTH, AUSTRALIA -- (Marketwire) -- 11/07/12 -- IMX Resources Limited (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) ('IMX') confirms further exploration success at the Ntaka Hill Nickel Sulphide Project with the discovery of near surface nickel sulphide mineralisation from five new geochemical exploration targets. 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.

Exploration drill testing of new coincident nickel and copper soil anomalies identified during 2012 targeting for Sleeping Giant style nickel mineralisation on the Ntaka intrusion has intersected near surface disseminated nickel sulphides in all holes drilled (Figure 1).

A total of 5 diamond drill holes totalling 572m were completed, with 4 holes intersecting greater than 1% Ni over various intervals (Table 1). Of particular note are the significant widths of greater than 1% Ni intersected in holes NAD12-298 and NAD12-311 which included 7.2m at 1.31% Ni and 0.27% Cu from 71.8m, and 3.55m at 1.14% Ni and 0.36% Cu from 43m, respectively. Both intersections also included narrow zones of high grade semi-massive sulphides assaying up to 4.42% Ni over 0.5m (NAD12-298) and 2.7% Ni over 0.25m (NAD12-311). The mineralisation in these holes has the potential to join up with adjacent nickel sulphides zones including the recently discovered Zeppelin zone for NAD12-298, and J Zone for NAD12-311. Additional drilling to test this concept at Zeppelin is currently in progress.

MD Neil Meadows commented "The Ntaka Hill exploration program is proving to be very successful in intersecting new zones and lenses of nickel sulphide mineralisation which may eventually prove to be linked to adjacent zones of known mineralisation. The current drilling program clearly demonstrates the potential to find new near surface disseminated sulphide zones which could expand the Ntaka Hill mineral resources."

"The success of the Ntaka Hill exploration drilling in identifying near surface disseminated nickel sulphide mineralisation, including narrow zones of high grade semi-massive sulphides, while testing geochemical soil anomalies confirms our belief that the potential of the Ntaka and Lionja intrusions is far from realised. The identification of additional lenses and zones that were unrecognised by airborne and ground EM surveys opens up the entire Ntaka and Lionja intrusions to additional exploration."

Exploration drilling totalling 3,000m to test additional targets at Ntaka Hill has been completed and regional geochemical surveys and drilling on the Nachingwea property is on-going. Results will be reported as they become available.


NEIL MEADOWS 
------------ 
Managing     
Director     

To view Figure 1: Ntaka Hill Geochemical Exploration Target Intersections on Reduced to Pole (RTP) magnetics, please visit the following link:

http://media3.marketwire.com/docs/831662.pdf


Table 1:  Summary of Assay Results                                          
Ntaka Hill Exploration Targets, Nachingwea Property, Tanzania               
                                                                            
----------------------------------------------------------------------------
Drill    Location                                                           
 hole    East/      Az / Dip Length   From     To Interval  % Ni  % Cu   %Co
(NAD12-) North                  (m)    (m)    (m)      (m)                  
         UTM:WGS84                                                          
----------------------------------------------------------------------------
298      450760mE   90 / -70  125.6  35.10  37.65     2.55  0.74  0.17  0.06
         8883425mN                                                          
                                     46.60  81.00    34.40  0.55  0.15  0.03
                              Incl.  50.30  51.30     1.00  1.70  0.49  0.13
                                And  71.80  79.00     7.20  1.31  0.27  0.03
                              Incl.  72.50  73.00     0.50  4.42  0.33  0.09
                                                                            
                                     94.60 103.00     8.40  0.44  0.05  0.03
----------------------------------------------------------------------------
277      451323mE   93 / -55  122.9  23.00  29.00 6.00(ii)  0.47  0.15  0.01
         8884498mN                                                          
                                     29.00  48.00    19.00  0.30  0.08  0.01
                              Incl.  32.00  36.00     4.00  0.49  0.12  0.02
                                                                            
                                     84.50  84.90     0.40  1.23  0.39  0.07
                                                                            
                                     106.3 109.00     2.70  0.56  0.20  0.03
----------------------------------------------------------------------------
301      450928mE   90 / -60  114.2  55.00  67.00    12.00  0.33  0.07  0.02
         8883700mN                                                          
                                     77.00 105.00    28.00  0.29  0.08  0.01
                              Incl.  77.00  78.00     1.00  0.53  0.23  0.03
                                     83.00  84.00     1.00  0.54  0.12  0.02
                                    102.80 103.15     0.35  1.27  0.18  0.05
----------------------------------------------------------------------------
311      451519mE   90 / -52  101.6  40.40  48.30     7.90  0.89  0.33  0.03
         8884250mN            Incl.  41.30  41.55     0.25  2.70  0.75  0.06
                                     43.00  46.55     3.55  1.14  0.36  0.03
----------------------------------------------------------------------------
312      451308mE   90 / -60  107.8  37.00  45.65     8.65  0.31  0.13  0.03
         8884960mN                                                          
----------------------------------------------------------------------------
                                                                            
Notes:                                                                      
Intervals represent core lengths, not necessarily true widths.              
Pt, Pd and Au assay results are not reported because in general, they are   
less than 1.0 g/t on a combined basis.                                      
(ii)partially oxidized, 1.8m of core loss between 23.5 and 26.1m            

Competent Persons / Qualified Person / NI 43-101 Statement

Information in this report 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 Resources. Ms. Tirschmann is a registered member of the Association of Professional Geoscientists of Ontario and has sufficient relevant experience as a qualified person as defined by NI 43-101 and a competent person under the Australian JORC (2004). Ms. Tirschmann consents to the inclusion of the data in the form and context in which it appears, and approves this disclosure.

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).

About IMX Resources Limited

IMX Resources Limited is an Australian based mining and base & precious metal exploration company dual-listed on the Australian and Toronto stock exchanges (ASX:IXR)(TSX:IXR)(TSX:IXR.WT), with exploration projects located in Australia, Africa and North America.

In Africa, IMX owns and operates the highly prospective Nachingwea Exploration Project in southeast Tanzania, which includes the potentially world-class Ntaka Hill Nickel Sulphide project. Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralisation. The Ntaka Hill Nickel Sulphide Project is one of the world's best un-developed nickel sulphide projects and has the potential to produce a very clean, high quality premium nickel concentrate.

In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55 kilometres south-east of Coober Pedy in South Australia, where it produces a premium coarse-grained magnetite-copper-gold DSO product at a rate of 1.8Mtpa.

IMX is actively developing the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia. IMX currently has a JORC Inferred Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a Global Exploration Target of between 200-380Mt @ 25-35% Fe elsewhere in the project. Studies indicate that coarse grained concentrates that could be produced at Snaefell have the potential to produce a direct sinter feed product which has the potential to attract a significant price premium.

IMX has also entered into a joint venture with OZ Minerals (the Mt Woods Copper-Gold JV Project) to explore the Mt Woods tenements for copper and gold. OZ Minerals is spending a minimum of $20M for a 51% interest in the non-iron rights, with IMX retaining a 49% interest in the non-iron rights and 100% of the iron ore rights.

IMX owns 25.65% of Uranex (ASX:UNX), which is a dedicated uranium exploration company, which is developing the Mkuju Uranium project in southern Tanzania.

Visit: www.imxresources.com.au

FORWARD-LOOKING STATEMENTS: This News Release includes certain "forward-looking statements". Forward-looking statements and forward-looking information are frequently characterised by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "could" occur. All statements other than statements of historical fact included in this release are forward-looking statements or constitute forward-looking information. There can be no assurance that such information of statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. Important factors could cause actual results to differ materially from IMX's expectations.

These forward-looking statements are based on certain assumptions, the opinions and estimates of management and qualified persons at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements or information. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, the ability of contracted parties (including laboratories and drill companies to provide services as contracted); uncertainties relating to the availability and costs of financing needed in the future and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Exploration Target tonnage quantity and grades estimates are conceptual in nature only. These figures are not resource estimates as defined by the JORC (2004) or NI 43-101, as insufficient exploration has been conducted to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

IMX undertakes no obligation to update forward-looking statements or information if circumstances should change. The reader is cautioned not to place undue reliance on forward-looking statements or information. 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.

ABN 67 009 129 560

CAUTIONARY STATEMENT: The TSX does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...