IMX Resources Limited is an Australian based mining and base and precious metals exploration company, listed on the Australian Securities Exchange and Toronto Stock Exchange, with projects located in Australia and Tanzania.
OperationsIn Australia, IMX operates and owns 51% of the Cairn Hill Mine, located 55 kilometres south-east of Coober Pedy in South Australia, where it produces a premium coarse-grained magnetite-copper-gold direct shipping ore (DSO) product at a rate of approximately 1.8Mtpa.
Exploration and developmentIn Tanzania, IMX owns the highly prospective Nachingwea Project in south-eastern Tanzania, which includes the potentially world-class Ntaka Hill Nickel Sulphide Project, located approximately 250km west of the port town of Mtwara. Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralisation. The Ntaka Hill Nickel Sulphide Project is a highly significant undeveloped nickel sulphide project, with the potential to produce a clean, high quality premium nickel concentrate. IMX has formed an exploration Joint Venture with diversified base metals mining and exploration company MMG Limited, to fund further exploration. MMG can contribute up to US$60 million over a five year period to earn a 60% interest in the Project.
On the 100% owned Mt Woods tenements, 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 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. 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.
1. The Global Exploration Target tonnage quantity and grades estimates are conceptual in nature only. These figures are not a Mineral Resource estimate as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 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.
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