Exploration for high grade graphite, gold and nickel.
IMX Resources Limited is an Australian-based exploration company, listed on the Australian Securities Exchange and Toronto Stock Exchange, with projects located in Australia and East Africa.
In Tanzania, IMX controls the Nachingwea Property in south-eastern Tanzania. The Nachingwea Property lies in the world-class Mozambique Belt which is prospective for graphite, nickel, gold and copper mineralization.
At Nachingwea, IMX is carrying out exploration at its Chilalo graphite prospect and at its Kishugu gold prospect and there is a significant nickel resource at its Ntaka Hill nickel project.
In Australia, IMX is also progressing development options for its Mt Woods Magnetite Project. Studies indicate that a smaller scale, lower cost project may be developed utilizing infrastructure that has been used by the Cairn Hill Mine. Efforts to secure a partner to support development of the Mt Woods Magnetite Project are continuing.
Exploration - Tanzania
IMX’s activities are focused on the highly prospective Nachingwea Property (IMX 85%, MMG 15%), a substantial land package (6.800km2) located in south-eastern Tanzania. The Nachingwea Property includes the Chilalo Graphite Prospect, the Kishugu gold prospect and the Ntaka Hill Nickel Sulphide Project.
At Chilalo, assays from 65 historical rock chip samples returned grades between 4.8% and 29.6% carbon, with an average grade of 12.9%, of which 41 samples were greater than 10% carbon. Additional assays from rock chip samples at Chilalo North returned 17.5%, 17.6% and 19.5% carbon. 1
At Kishugu, exceptional gold in soil anomalies represent an outstanding exploration opportunity. Results of soil sampling have identified an extensive, coherent, gold-in-soil anomaly measuring 4km by 5.5km, with peak gold values of 904ppb Au, 793ppb Au and 437ppb Au.1
At Ntaka Hill, there is a significant mineral resource2 as follows:
• Total Measured and Indicated Resources: 20Mt @ 0.58% nickel and 0.13% copper (0.3% nickel cutoff) for 117,000 tonnes of contained nickel metal; and• Total Inferred Resources: 36Mt @ 0.7% nickel and 0.14% copper (0.3% nickel cutoff) for 238,500 tonnes of contained nickel metal.
IMX is manager of activities at the Nachingwea Property under a joint venture with MMG who holds a 15% interest.
Exploration and Development - Australia
On the 100% owned Mt Woods tenements, IMX is seeking to develop the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia. IMX currently has a JORC Inferred Mineral Resource of 569Mt @ 27% Fe at the Snaefell Magnetite Deposit and a Global Exploration Target of between 900Mt-1,200Mt @ 18-32% Fe elsewhere in the project.3 Studies indicate that coarse grained concentrates that could be produced at Snaefell, have the potential to attract a significant price premium.
The Company’s Mt Woods tenements cover almost half of the Mt Woods Inlier which is part of the greater Gawler Craton in South Australia, an area notable for its iron oxide copper-gold (IOCG) deposits, where one of the world’s largest copper-gold mines is located at Olympic Dam and an area which is host to three producing copper-gold mines based on IOCG deposits.