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

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]

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
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...