IMX Resources Limited is an Australian-based exploration company, listed on the Australian Securities Exchange and Toronto Stock Exchange, with exploration projects located in Tanzania, 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 Project and at its Kishugu Gold Prospect and there is a significant nickel resource at its Ntaka Hill nickel project.
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 Project, the Kishugu Gold Prospect and the Ntaka Hill Nickel Sulphide Project.
At Chilalo, initial assays from a reverse circulation drilling program that commenced in October 2014 have intersected high- grade graphite. The assays are from six holes, where drilling returned a number of near-surface intersections including:
• Hole NRC14-140: 24m @ 11.7% TGC from 28m, including 14m @ 14.9% TGC;
• Hole NRC14-149: 15m @ 11.9% TGC from 58m, including 10m @ 13.7% TGC; and
• Hole NRC14-150: 18m @ 12.7% TGC from 16m, including 14m @ 14.6% TGC.
Approximately 1,000m of diamond drilling at Chilalo commenced in early November 2014. This will assist in the definition of a Mineral Resource, which IMX aims to complete in early 2015, as well as providing core for metallurgical test work to determine the flake size distribution of the deposit, flotation recoveries and concentrate grades.
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 600m by 5.5km, with peak gold values of 904ppb Au, 793ppb Au and 437ppb Au.
Ntaka Hill Mineral Resource
At Ntaka Hill, there is a significant mineral resource 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.