IMX Resources (ASX: IXR, TSX: IXR, IXR.WT) has uncovered a significantly larger area of ultramafic rocks associated with the Ntaka Hill Nickel Sulphide Project that have the potential to be mineralised.
The discovery was made through a recently completed gravity survey campaign in the Ntaka Hill-Lionja trend, within the company's Nachingwea land package in Tanzania.
Neil Meadows, managing director, commented: "We are very encouraged by the results of the gravity survey, highlighting the potential increase in the extent of ultramafic rocks and mineralisation at Ntaka Hill and remain confident that there are further zones of mineralisation to be discovered.
"Enhancing our understanding of the area of mineralisation and therefore the potential size of the resource is a priority for the 2013 drilling program, the results of which will be central to the company's decisions on development of the project."
The gravity survey highlighted the extent of ultramafic rocks, which host the nickel mineralisation at Ntaka Hill, within the dense ultramafic rocks surrounded by less dense altered sedimentary rocks or para-gneisses.
The image of the gravity survey clearly outlines the more dense rocks surrounded by less dense "country" rock.
IMX has outlined an aggressive exploration plan for 2013 with a spend of A$15 to $20 million to undertake Ntaka Hill resource expansion, feasibility work and Nachingwea regional exploration.
Preparations for the 2013 drilling program are well advanced and on track for commencement subsequent to the Tanzanian wet season.
High grade nickel
Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralisation.
The Ntaka Project is one of the world's best undeveloped nickel sulphide projects.
Recent drilling results reported high grade massive sulphide intervals of up to 16.3% nickel within wide intersections of disseminated mineralisation.
A revised PEA released in October 2012 demonstrated Ntaka's ability to produce a a very clean, high-quality premium nickel concentrate.
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