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  • IMX Resources Discovers Nickel Sulphide Zone At Ntaka 0 comments
    Nov 1, 2012 1:40 AM

    IMX Resources (ASX: IXR, TSX: IXR, IXR.WT) has unearthed a new sulphide zone which has been traced over a 350 metre strike length and remains open in all directions at the Ntaka Hill Nickel Sulphide Project in south eastern Tanzania.

    Recent drilling has confirmed the discovery of the nickel sulphide zone, known as Zeppelin, 750 metres east of the Sleeping Giant Zone.

    With this, there is significant potential for the resource base to expand and improve project economics given close proximity to Ntaka Hill resource.

    Five diamond drill holes totalling 838 metres were completed at Zeppelin to follow up initial nickel sulphide mineralisation intersected east of H Zone in 2011 drilling.

    Best intercepts include 7 metres at 1.17% nickel and 0.26% copper from a wider 23 metre zone at 0.69% nickel and 0.14% copper from 124 metres, and 15.1 metres at 0.55% nickel and 0.22% copper from 113.9 metres.

    Neil Meadows, managing director, commented: "The discovery of the new Zeppelin zone in close proximity to the current resources at Ntaka Hill is very exciting.

    "It confirms our belief that the resource base has the potential to increase significantly and substantially improve the development economics for the Ntaka Hill Nickel Sulphide Project.

    "Additional drilling is planned to further define the new zone before the end of the field season."

    Similar to Sleeping Giant, the Zeppelin zone appears to consist of a wide disseminated nickel sulphide zone typically grading between 0.4% and 0.7% nickel, with localised intervals of net-textured and semi-massive sulphides grading above 1% nickel.

    IMX has expanded its drilling program, with an additional 2,400 metres of diamond drilling underway.

    Drilling will further define the extents of the Zeppelin zone to include the new mineralisation in the Ntaka Hill resource update in early 2013.

    This new zone is expected to positively impact on the projected mine life and project economics of the Ntaka Hill Project, which is part of the wholly owned Nachingwea Project.

    Ntaka Hill has demonstrated that a premium nickel sulphide concentrate can be produced, with good recovery and grade from disseminated material demonstrated.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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