Welcome!

News Feed Item

Multi-Pronged Exploration Program to Mark Aggressive New Year Campaign at Ntaka Hill Nickel Sulphide Project

Extensive new geophysical data to help outline drill targets with potential for more high-grade hits

PERTH, AUSTRALIA -- (Marketwired) -- 01/15/14 --

Key Points


--  Field activities resume for 2014 with re-opening of Ntaka Hill
    exploration camp. 
--  Exploration underpinned by MMG's geological model targeting southerly-
    plunging sills and chonoliths. 
--  Scope of search extended across broader approx. 3km by approx. 12km
    Ntaka-Lionja trend, with recently completed mapping of the Ntaka Hill-
    Lionja intrusion revealing a potentially world-class intrusive complex. 

IMX Resources (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) is pleased to advise that a multi-pronged exploration program has commenced at its Ntaka Hill Nickel Sulphide Project in south-eastern Tanzania, East Africa (Figure 1) as part of an aggressive campaign to "crack the code" of this potentially outstanding project.

The work will see joint venture partner MMG Exploration Holdings ("MMG") conduct a comprehensive analysis of the extensive geophysical data acquired and the drilling completed late last year at Ntaka Hill, together with extensive historical drilling, in order to identify targets characteristic of the high-grade nickel sulphide intersections recorded in previous drilling programs.

This work is expected to pave the way for the next key phase of drilling which is targeted to commence next quarter following the East African wet season.

By marrying the new geophysical data base with the existing high-grade drilling results, the ability to increase understanding of the geology and mineralization at Ntaka Hill and replicate the existing high-grade results on a widespread basis will be greatly enhanced. The Ntaka Hill exploration program, which is being operated and funded by MMG under the terms of its US$60 million farm-in, is aimed at identifying the tube-like structures or "chonoliths" which are believed to host the high-grade nickel sulphides at Ntaka Hill and the surrounding Nachingwea Project.

These structures are believed to host the high-grade intersections, including 13.65m at 3.46 per cent nickel and 0.62 per cent copper (NAD13-372)(1) reported in recent drilling, and previous intersections drilled by IMX such as 17.25m at 2.28 per cent nickel and 0.57 per cent copper (NAD10-226)(2) and 15.95m at 3.51 per cent nickel and 0.55% copper (NAD10-220)(3).

Since announcing these exploration results on 1 November 2013, 25 January 2011 and 14 December 2010, IMX is not aware of any new information or data that materially affects the information included in those announcements.

Surface mapping and systematic soil sampling over the Ntaka Hill and Lionja intrusions were completed in 2013. This outlined previously unidentified surface gossans over Lionja and extended the known coverage of the intrusion in this area to the east and south-east (Figure 2).

In addition, MMG applied state-of-the-art geophysics, including "deep-looking" NSAMT (natural source audio magnetotellurics) surveys, MLEM (moving loop EM) surveys and infill ground gravity surveys across the Ntaka Hill and Lionja intrusions to assess the potential for nickel mineralisation.

The assessment of the 2013 drilling, mapping and geophysical data will take place throughout the March Quarter of 2014 in preparation for the scheduled start of drilling in May 2014.

MMG is targeting a resource in the order of 27 million tonnes grading at or above 1.5 per cent nickel for Ntaka Hill and Lionja based on a geological model of chonolith-hosted high grade nickel sulphides within the large nickel rich magmatic Ntaka Hill-Lionja intrusion.

The current Measured and Indicated Resource for Ntaka Hill stands at 20.3Mt at 0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained nickel. The Inferred Resource is 35.9Mt at 0.66 per cent nickel and 0.14 per cent copper for 238,500 tonnes of contained nickel.(4)

Since announcing this mineral resource estimate on 19 August 2013, IMX is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.

IMX Acting Managing Director John Nitschke said the results generated to date at Ntaka Hill supported the Company's strong belief in the potential of the project.

"There is clearly significant nickel mineralisation already at Ntaka Hill and this work has confirmed the potential of the entire Ntaka Hill-Lionja intrusive. The next phase of exploration is aimed at unlocking the code which controls that mineralisation so that we can identify the high-grade structures that will transform it into a world-class project."

JOHN NITSCHKE, Acting Managing Director

To view Figure 1 - map showing Ntaka Hill Project location, please visit the following link: http://media3.marketwire.com/docs/IMX-Figure1.pdf.

To view Figure 2 - Gravity image showing the broader Ntaka Hill-Lionja intrusion, please visit the following link: http://media3.marketwire.com/docs/IMX-Figure2.pdf.

About IMX Resources Limited

IMX Resources Limited is an Australian-based mining and exploration company, listed on the Australian Securities Exchange ('ASX') and Toronto Stock Exchange, with projects located in Australia and East Africa.

In Australia, IMX operates and owns 51% of the Cairn Hill Mining Operation, located 55km 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. This operation generates cash flow which underpins the IMX investment proposition.

IMX is also actively exploring for direct shipping hematite at its Mt Woods tenements, located near the Cairn Hill Mining Operation, and progressing development options for its Mt Woods Magnetite Project. Studies indicate that a smaller scale, lower cost project may be developed utilising existing infrastructure already in use at the Cairn Hill Mining Operation. Efforts to secure a partner to support development of the Mt Woods Magnetite Project are continuing.

In Africa, IMX owns the highly prospective Ntaka Hill Nickel Sulphide Project, located within the broader 7,000km2 Nachingwea Exploration Project in south-eastern Tanzania which is prospective for nickel and copper sulphide, gold and graphite mineralization. Ntaka Hill is a potentially world-class nickel sulphide project which is being explored under a US$60 million exploration joint venture with MMG Exploration Holdings Limited.

Visit: www.imxresources.com.au

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.

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.

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.

(1) ASX Announcement 1 November 2013

(2) ASX Announcement 25 January 2011

(3) ASX Announcement 14 December 2010

(4) ASX Announcement 19 August 2013

Contacts:
IMX Resources Limited
John Nitschke
Acting Managing Director
+61 8 9388 7877
[email protected]

IMX Resources Limited
Phil Hoskins
Chief Financial Officer
+61 8 9388 7877
[email protected]
www.imxresources.com.au

Media:
Read Corporate
Paul Armstrong/Nicholas Read
+61 8 9388 1474
[email protected]

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
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, 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 your speaking proposal ...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
The unique combination of Amazon Web Services and Cloud Raxak, a Gartner Cool Vendor in IT Automation, provides a seamless and cost-effective way of securely moving on-premise IT workloads to Amazon Web Services. Any enterprise can now leverage the cloud, manage risk, and maintain continuous security compliance. Forrester's analysis shows that enterprises need automated security to lower security risk and decrease IT operational costs. Through the seamless integration into Amazon Web Services, ...
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facing...