The Mibango Project is located approximately 10km east of Lake Tanganyika in western Tanzania, and covers an area of approximately 788km2. Historically the main exploration focus has been the extensively mineralised Kapalagulu Layered Intrusive (KLI) in the north of the project area where three distinct styles of potentially economic mineralisation have been identified:
The Mibango Project lies within the highly prospective East African Nickel Belt and is thought to be part of the Kabanga-Musongati intrusive belt in Tanzania and Burundi. Approximately 340km to the northeast of Mibango lies the Kabanga massive nickel sulphide resource totalling 58Mt at about 2.6% Ni. The Musongati Intrusion is located 230km away in Burundi and hosts a major lateritic nickel deposit estimated at 266Mt at 1.35% Ni. At Mibango,
Initial exploration at Mibango focused on the PGE and Ni potential of the KLI where in 2005 a JORC inferred laterite nickel resource was delineated comprising 113 Mt at 0.82% Ni, 0.05% Co (0.5% Ni cut-off grade).
During the last two years, IMX has refocused exploration on the wider unexplored regional potential for high-tenor massive Ni-Cu sulphides outside the KLI. This involved a back to basics exploration program heavily focused on field geology which returned immediate success with new magmatic Ni-Cu sulphides identified. Thirteen sulphide bearing intrusions in what are interpreted to be potential Kapalagulu-age equivalent rocks were mapped within the southern tenement area. All the areas are particularly significant as they occur outside the known mineralised KLI and highlight the Ni-Cu-PGE potential of the regional licences.
The successful results to date have confirmed the Company’s belief in the prospectivity of the region and the project. Drill ready targets have been defined with a number of other geochemical and geophysical targets expected to become drill targets with some additional field validation during the next field season.
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