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Nimy Grow Mons Lithium Potential

29 June 2023 12:06
ASX: NIM
Nimy Drilling Pegmatite 1

Nimy Resources (ASX: NIM) continue to build the potential for a significant lithium discovery at its flagship Mons Project, with the latest drill assays and geochemical results from the Project’s Royale Prospect revealing anomalous lithium values over significant widths.

Assaying Lithium

The assays received are from 4-metre composite samples submitted for geochemical assay taken from an exploratory drill campaign at both the South Lake and Royale Prospects which targeted lithium-in-soil anomaly of up to 232 ppm Li₂O and 131ppm Li₂O respectively, which confirm that the drilling successfully intersected fractionated and fertile LCT pegmatites at both locations.

Of the drilling at Royale, all eight holes intersected pegmatite, with geochemistry confirming that five of these holes contained contain highly
fractionated pegmatite sequences with anomalous grades for lithium as well as anomalous values for a number of lithium indicator minerals including caesium, tantalum, beryllium, rubidium and tin.

These indicator or pathfinder minerals are often associated with lithium-caesium-tantulum pegmatites, with these anomalous levels from across the Prospect indicating that the Company has potentially hit a fertile LCT pegmatite complex.

The Company is still awaiting the receipt and interpretation of a number of 1m select samples taken from drilling.

Surveying Pegmatite

Alongside geochemical analysis, the Company has also completed a hyperspectral survey across the Mons Project to map pegmatites and in turn potential LCT pegmatites, with the survey identifying a very promising anomaly located just 1.3km to the north-west of the recent drilling at the Royale Prospect.

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Figure 3: Royale and South Lake Prospects relative to the hyperspectral LCT target pegmatites (temperature scale warmer colour = better targets)

This new anomaly is expected to host enriched Li, Cs, Ta, Be and Nb and lies within the Project’s greenstone belt just ~3km away from where the greenstone meets the granite, which in lithium exploration is often termed a “goldilocks zone” for LCT pegmatite formation.

Further enhancing this new anomaly’s potential is that the enriched elements it is expected to contain are already shown to be present in a fertile pegmatite environment thanks to the geochemistry completed at Royale, with the Company noting that fertile pegmatites were intersected more in holes at the western end of the drill line, indicating that prospectivity increases as the rig moves west toward the anomaly.

Looking Ahead

With the strong lithium potential identified, the Company’s primary focus moving forward will be on the LCT pegmatite hotspot, saying it has already begun sampling at the anomaly in preparation for a follow up drilling campaign.

“The combination of the lithium assays and the latest geophysical results is extremely promising. They show there is extensive lithium at Royale with strong potential for higher grades within the anomaly. In light of these results we are moving quickly with soil sampling ahead of more drilling,” Nimy Resources Executive Director Luke Hampson Said.

NIM’s Australian Stock Exchange-listed share price is currently trading at 0.16c (12:01 pm UTC+ 8 hours).

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