Nimy Resources ‘well on the way’ to establishing new nickel province
Drilling at Nimy Resources’ (ASX: NIM) Mons project in Western Australia continues to show indications of a substantial nickel system.
A highlight intercept from the latest round of assays was Hole 004, which uncovered 448.48m of 0.15% nickel, 0.01% cobalt and 27.28% magnesium oxide from 384m.
This comprised notable intervals of 2m at 0.13% nickel, 0.21% copper, 0.1% cobalt and 27.69% manganese oxide from 438m; and 123.84m at 0.16% nickel, 0.0098% cobalt, and 27.25% manganese oxide from 747m to end of hole.
Nimy executive director Luke Hampson said Nimy’s exploration strategy is targeting high-grade nickel massive sulphides and large, low-grade nickel sulphide deposits.
“Nimy is well on the way to establishing a significant nickel province across the 2,264sq km tenement holding,” he added.
Barium, rubidium, caesium among other elements encountered
Another intercept reported today (Hole 006) returned 91m at 0.14% nickel, 0.01% cobalt and 22.74% magnesium oxide.
According to Mr Hampson, these two holes confirm a significant strike length and depth.
He said, Hole 004, which was collared about 1.2km along strike (and south of the Dease gossan prospect) is further evidence of a potentially large mineralised system at Mons.
“The consistency of nickel sulphide mineralisation, associated with magnesium oxide, shows that we are in a large komatiite (a type of volcanic rock) and are now methodically working towards locating where the nickel is concentrated.”
Drilling also intersected 59m containing elevated levels of potassium, barium, rubidium, beryllium, caesium, thallium, and lead.
Nimy says the significance of this zone is being worked through with sections of the core to undergo petrographic analysis.
Geology similar to two major nickel belts
The company is prioritising the Mons project for exploration. Upcoming work in the new year will start at Dease and comprise geophysical and geochemical surveys.
Mons is located 140m north of Southern Cross, which is made up of 15 approved tenements and covering an 80km north-south strike of ultramafic rock.
The project area covers the Karroun Hill nickel district on the northern end of what the company describes as the world-famous Forrestania nickel belt.
Nimy says that Mons hosts a similar geological setting to the southern end of the world renowned Forrestania and Kambalda nickel belts.