Mons nickel exploration program set to commence for Nimy Resources

Nimy Resources ASX NIM Mons nickel exploration Western Australia
Nimy Resources began trading on the ASX on Monday after raising $6 million through its IPO.

Nimy Resources (ASX: NIM) is set to commence a multi-pronged exploration program at its district-scale Mons nickel project in Western Australia.

The move to ramp up the systematic program on several fronts follows the company’s ASX debut yesterday, after an initial public offering (IPO) process which raised $6 million after costs.

Nimy offers investors an opportunity to gain exposure to a district-scale, nickel sulphide exploration project in one of WA’s most productive nickel belts.

It has a 1,761-square kilometre highly-prospective tenement holding in the Karroun Hill district, which forms the northern extension of the world-class Forrestania nickel belt.

The Mons project is located 140km north of Southern Cross and hosts an 80km strike length of the same key geology and favourable structures which contain the famous nickel sulphide deposits within Forrestania and the Kambalda nickel belt.

Economic resource

Nimy managing director Christian Price said the company had a significant head start in its campaign to discover and develop an economic nickel sulphide resource.

“Previous exploration for gold has established that Mons hosts the key fertile komatiite geological structures which host the nickel sulphides at Kambalda,” he said.

“We are moving quickly to unlock [the project’s] full potential through an aggressive exploration program.”

Mr Price said site preparation has already commenced and the company will kick-off a large moving loop electromagnetic (MLEM) survey within weeks.

Soil sampling will be conducted in parallel with the survey to assist target generation and accelerate plans for follow-up reverse circulation and diamond drilling.

Nimy potential

Nimy chairman Simon Lill, who also chairs the board of successful gold explorer De Grey Mining (ASX: DEG), said there is much potential in the Nimy tenement package and data set, which had been curated over the past six years.

“Recent experiences within the Yilgarn and Pilbara Cratons continue to prove that large discoveries can be made within the Western Australian setting,” he said.

“Nimy is fortunate to have a large tenement package of identified greenstone structures and historical data sets pointing to significant nickel potential.”

He said the company is committed to making a discovery at the Nimy tenements, which are believed to hold similarities to De Grey’s story.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.