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IMX Resources Appoints Azure Capital To Assess Commercial Options For Mt Woods Magnetite

IMX Resources (ASX: IXR, TSX: IXR, IXR.WT) has appointed Azure Capital as its corporate advisor to assist in developing commercial options for the Mt Woods Project in South Australia.

One of Azure's first tasks will be to assist IMX in the evaluation of the project prior to advising the company on the strategic commercial options for the project.

Neil Meadows, managing director, commented: "The appointment of Azure to assist in developing commercial options for the Mt Woods Project is a positive step towards realising the value of our investment in the project.

"It also represents a significant vote of confidence in IMX, our projects and our people by Azure and we look forward to working closely with them in the future."

IMX is actively developing the Mt Woods Magnetite Project on the highly prospective Mt Woods Inlier in South Australia.

IMX has defined an Inferred JORC Resource of 569 million tonnes at 27% iron at the Snaefell Magnetite Deposit.

Additionally, the company has outlined a global exploration target of between 200 and 380 million tonnes at 25% to 35% iron elsewhere across the Mt Woods' project area.

IMX has previously completed a Scoping Study on the project with the Snaefell resource as the basis.

Studies indicate that coarse grained concentrates that could be produced at Snaefell have the potential to produce a direct sinter feed product which has the potential to attract a significant price premium.

Meanwhile, Azure has also been mandated to advise the company across a broad range of corporate issues, including the ongoing exploration and development work programs within the Nachingwea property in Tanzania, and extracting maximum value from the Ntaka Hill Nickel Sulphide Project.

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