|By Marketwired .||
|January 15, 2014 06:00 PM EST||
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.
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
Acting Managing Director
+61 8 9388 7877
IMX Resources Limited
Chief Financial Officer
+61 8 9388 7877
Paul Armstrong/Nicholas Read
+61 8 9388 1474
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Dec. 9, 2016 10:00 PM EST Reads: 270
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Dec. 9, 2016 09:45 PM EST Reads: 2,002
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 9, 2016 09:30 PM EST Reads: 1,279
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 9, 2016 08:00 PM EST Reads: 1,017
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Dec. 9, 2016 07:45 PM EST Reads: 714
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Dec. 9, 2016 06:45 PM EST Reads: 5,144
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Dec. 9, 2016 06:15 PM EST Reads: 1,764
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 ...
Dec. 9, 2016 05:30 PM EST Reads: 2,370
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Dec. 9, 2016 05:30 PM EST Reads: 481
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...
Dec. 9, 2016 05:15 PM EST Reads: 412
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Dec. 9, 2016 05:15 PM EST Reads: 1,889
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Dec. 9, 2016 05:15 PM EST Reads: 1,470
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Dec. 9, 2016 05:00 PM EST Reads: 2,075
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Dec. 9, 2016 04:45 PM EST Reads: 1,869
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 9, 2016 04:45 PM EST Reads: 1,314