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Nimy Resources Deliver Promising Nickel Sulphide Targets at Mons

19 July 2023 13:44
ASX: NIM

Western Australia-based exploration company, Nimy Resources (ASX: NIM), has made a significant breakthrough at its Mons Nickel Project, with a survey identifying two high-conductance electromagnetic plates suggesting the presence of massive sulphide mineralisation.

Identification of High Conductance Electromagnetic Plates

Identified by a moving loop electromagnetic survey, the two plates show conductivity consistent with nickel massive sulphide targets with plate one bearing a conductive response of 8000 Siemens and plate two bearing a response of 3000 Siemens, which are respectively 100 times higher and 38 times than any conductive response previously returned from MLEM surveys at Mons.

Data from the survey was modelled by leading geological consulting firm Resource Potentials and delineated the two high-priority targets. Plate-01 is located just 60 metres below the surface at 390m and has dimensions of 20m x 100m while Plate-02 sits deeper at RL 353m and is larger, measuring 50m x 150m.

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Figure 1: Plates 1 and 2 position relative to the VTEM (flight path – black lines) and follow up MLEM (survey lines – white lines) over colour magnetic image

The survey also identified three additional anomalies similar to the two plates which are currently being assessed.

Looking Forward

To move forward with the exploration of these promising targets, Nimy is currently compiling a Plan of Work for submission and subsequent approval.

The Company aims to initiate drilling as a top priority to gain further insights into the extent and quality of the nickel sulphide mineralisation at the Mons Project, with Resource Potentials having already designed parameters for a proposed drillhole that will intersect both identified plates.

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Figure 2: X – section of planned drill hole designed to intersect both plate 1 and plate 2, nominally NRRC092 (to be confirmed)

Situated in Western Australia, the Mons Project, covers a significant land area of 2,564km², encompassing 12 approved tenements with an additional 4 in the approval process.

Located approximately 140km north-northwest of Southern Cross, the Project spans an 80km north/south strike of mafic and ultramafic sequences, with the geological setting of Mons sharing similarities with the world-renowned Forrestania belt and the Kambalda nickel belt, indicating the potential for substantial nickel-rich komatiite sequences.

Luke Hampson, the Executive Director of Nimy Resources, expressed his excitement about these findings, stating, “These results provide the most compelling evidence yet of nickel massive sulphides and a potential high-grade nickel sulphide deposit at Mons.”

“We are highly encouraged by the positioning, size, and conductivity of the plates following extensive work across a large electromagnetic survey data set. We have prioritised this target for drilling.”

NIM’s Australian Stock Exchange-listed share price is currently trading at 16c (12.10 pm UTC+ 8 hours).

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