Nimy Resources hits rare earths and base metals at Mons in WA

Nimy Resources (ASX: NIM) has hit rare earths and base metals in a newly-identified 4.5km corridor at its Mons project in Western Australia.

Nimy says the results are important because they sit well away from previously-announced nickel and lithium targets, highlighting the immense prospectivity of the greenstone belt at Mons.

The results follow new assays released by Nimy which identified up to 0.73% nickel.

The company stated that those results pointed to a high-grade feeder source and it would start down-hole EM to find the nickel sulphide traps.

Wide rare-earth corridor

“We have identified a 4.5km corridor of rare earth and base metal mineralisation on the western fringe of our drilling campaign. This mineralisation remains open in all directions,” said Nimy Resources’s executive director, Luke Hampson.

“The results are extremely prospective and we are assessing the possible sources of the anomalism.”

“Preliminary drilling at the rare earths carbonatite prospect shows that the core is mineralised with bismuth, molybdenum sulphides to the extent of the drilling and is of a different rock type to peripheral drill holes.

Mr Hampson said the results provide more evidence that Mons hosts a standalone greenstone belt of significance with rare earth element and base metal potential in addition to the company’s more advanced and main focus of nickel and lithium exploration.

Priority nickel targets unveiled

The assays released earlier this week by Nimy showed the Dease Gossan and the East Prospect at Mons are priority nickel sulphide targets.

Drilling returned multiple intersections of nickel, copper, cobalt, and PGEs (platinum and palladium) grading up to 0.73% nickel, 0.17% copper, 0.11% cobalt and 378ppb (0.37g/t) PGEs.

Nimy said that intervals in the western three holes of the Dease Gossan Prospect indicate a pattern of anomalous nickel, sulphur, copper, cobalt, and PGE enrichment which strengthens as it dips to the west.

Copper, cobalt, and PGEs are considered important pathfinders in exploration for nickel sulphide deposits and therefore further enhance the prospectivity of Dease and East.

Downhole EM plans

Downhole EM will now be undertaken in holes which returned high sulphur, nickel, copper and PGE associations below the outcropping nickel gossan.

“These results along with the recent EM plate anomalies provide strong evidence of a high-grade nickel sulphide deposit at Mons,” Mr Hampson said.

“We are highly encouraged by the nickel, cobalt, copper and PGE grades. Drilling across the Dease Gossan suggests we are closing in on higher-grade nickel sulphide mineralisation as we move west, further highlighting the potential of this prospect.”

“We are looking forward to conducting the down-hole EM, which is aimed at helping us identify the higher-grade feed source of the nickel.”