Nimy Resources Advances Critical Metals Strategy with M2i Deal and Mons Exploration Pipeline

Nimy Resources (ASX: NIM) has taken further steps to commercialise its Western Australian critical minerals portfolio with two significant developments at the Sneaky Squirrel and Block 3 prospects.

The company has signed a formal agreement with M2i Global to advance its gallium strategy, while also outlining new copper-zinc-gold targets at Sneaky Squirrel.

These initiatives come ahead of the highly anticipated maiden JORC resource at the Mons project’s Block 3, which remains Nimy’s central focus.

Gallium Deal Targets US Partnerships

Nimy has executed a collaboration and marketing agreement with NYSE-listed M2i Global, formalising a relationship first initiated under a Memorandum of Understanding earlier this year.

M2i specialises in accessing US government funding, offtake partnerships and toll treatment options for critical minerals, with deep links to the Department of Energy, Department of Defense and EXIM Bank.

Under the agreement, M2i will co-sign all US grant applications for gallium processing, provide technical guidance on local site development, and market Block 3 products to potential end users.

Performance rights will vest to M2i on acceptance of binding agreements from US funding bodies, with a retainer also payable during the initial three-month grant application period.

Managing director Luke Hampson said the engagement would accelerate Nimy’s global funding strategy and align its gallium portfolio with US critical minerals policy.

Sneaky Squirrel Reveals Polymetallic Potential

Assays from surface and shallow drilling at the Sneaky Squirrel prospect have outlined a large polymetallic anomaly, with mineralisation remaining open at depth and along strike.

Rock chips returned values up to 0.82 grams per tonne gold, 1,099 parts per million copper and 4,477ppm zinc across a gossanous trend interpreted as part of a potential volcanogenic massive sulphide system.

Reverse circulation drilling confirmed subsurface sulphides beneath outcropping mineralisation, with geophysics supporting continuity at depth.

Mr Hampson said Sneaky Squirrel now sits alongside Masson and Vera’s Gossan as priority copper-zinc-gold targets across the broader Mons belt.

The prospect is located within a previously untested area of the greenstone sequence, with further follow-up work planned.

Mons Project Work Anchored June Quarter

The majority of activity during the June quarter centred on the broader Mons project, where Nimy completed 25 holes for 5,994 metres of reverse circulation and diamond drilling.

Results returned during the period included 240m at 63 grams per tonne Ga₂O₃ from surface at NRRC140, with a peak value of 1m at 462g/t and multiple broad intercepts across adjacent holes.

A further 17 holes are pending assay, with Nimy hoping the data will underpin a maiden JORC resource estimate for Block 3 in the September quarter.

Curtin University has commenced metallurgical test work on gallium-bearing samples, while CSIRO is conducting a parallel geochemical analysis to define mineralogical signatures.

Nimy has also advanced regional exploration across the belt, with new mapping, geophysics and geochemical surveys under way.

Strong Cash Position Supports Resource Push

Nimy closed the quarter with $2.07 million in cash, having raised $2.75m through a placement to advance exploration and technical studies.

Exploration expenditure for the quarter was $894,000, with an additional $298,000 allocated to staffing and corporate costs.

The company said it remains well funded to deliver its maiden resource and continue drilling across its growing pipeline of critical minerals targets.