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Nimy Resources Delivers Further High-Grade Gallium Results from Block 3 Project

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By Colin Hay - 
Nimy Resources ASX NIM gallium assay results Block 3
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Nimy Resources (ASX: NIM) continues to attract international interest after further “outstanding” gallium assay results in Phase 2 drilling at its Block 3 project in Western Australia that included a hit of 462 grams per tonne.

Assays from the latest four holes at Block 3 have revealed wide high-grade gallium intersections, with all holes encountering mineralisation from surface to end of hole.

Nimy reported initial results from Block 3 in mid-June that successfully extended and in-filled the known mineralisation at the project.

Extended Resource

The latest results extend the known resource at Block 3 to an area measuring 450 metres by 300m and provide further evidence of the strong continuity within the area.

They include peak value assays of 1m @ 394 grams per tonne gallium from 188m in hole NRRC138, 1m @ 462g/t gallium from 202m in hole NRRC140, and 4m @ 140g/t gallium from 4m in hole NRRC141.

Nimy is now awaiting results from another 17 holes, while continuing its exploration work aimed at extending the chlorite schist zone that hosts the gallium mineralisation.

Standalone Potential

Managing director Luke Hampson said the new results further confirmed the potential for Block 3 to emerge as a standalone gallium project.

“The assays show that Block 3 is emerging as a major find with every potential to capitalise on global demand for gallium,” Mr Hampson said.

Nimy remains focused on accelerating its exploration and development strategy to position the Block 3 discovery as a key source of gallium for rapidly expanding markets across the world.

“We are well-placed to continue increasing the extent of the mineralisation ahead of the maiden JORC resource,” Mr Hampson added.

Strong Gallium Growth

Analysts estimated the global gallium market size at around $38.2 million in 2023 and are forecasting it will grow at a compound annual rate of 7.0% to reach $61.4m by 2030.

The company is in ongoing discussions with potential US and European offtake partners and funding counterparties.

“Successful implementation of the project from exploration, resource definition, processing and export will deliver significant value to Nimy Resources and its shareholders,” Mr Hampson said.