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Mons Project Unveils Strong Potential for High-Grade Nickel Sulphide Discovery

24 July 2023 13:49
ASX: NIM

Nimy Resources (ASX:NIM) has released promising assay results from its Mons Project in Western Australia, with new assays up to indicating 0.73% nickel further developing the project’s potential to host a high-grade nickel sulphide deposit.

Key Assay Results

The Dease Gossan Prospect and the East Prospect have emerged as priority nickel sulphide targets based on the latest assay results showcasing multiple intersections of nickel, copper, cobalt, and platinum group elements (PGEs) grading up to 0.73% nickel, 0.17% copper, 0.11% cobalt, and 378 parts per billion PGEs.

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Figure 1: Dease Gossan Prospect NRRC056 chip tray

The drilling data indicates a compelling pattern of anomalous nickel, sulphur, copper, cobalt, and PGE enrichment, which intensifies as it dips to the west in the western three holes of the Dease Gossan Prospect, with this encouraging trend boosting the prospectivity of both the Dease and East areas of the Mons Project.

Notably, copper, cobalt, and PGEs are considered crucial pathfinders in exploring nickel sulphide deposits, further enhancing the possibility of a significant nickel sulphide mineralisation.

Anomalous Enrichment Pattern

Intersections at Dease Gossan Prospect extend down to 292 metres across a 500-metre east-west drill line and show assays up to 0.73% nickel, 1738 ppm copper, 877 ppm cobalt, and 376 ppb 2PGEs.

Noteworthy intersections include NRRC055, which returned 24 metres at 0.21% nickel, 192 ppm cobalt, and 45 ppb 2PGEs from 4 metres, with even more impressive sub-intervals such as 4 metres at 0.27% nickel, 343 ppm cobalt, and 79 ppb 2PGEs from 4 metres.

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Figure 2: Dease Gossan Prospect (4m composite samples) – Nickel enriched top of profile with copper and sulphur increasing downhole (NRRC055, NRRC056) DHEM priority planned for NRRC055 and NRRC056 (high nickel, copper, sulphur and PGE’s)

Similarly, the East Prospect has demonstrated significant mineralisation down to 228 metres along a 320-metre east-west line, with peak grades of 0.38% nickel, 290 ppm copper, 262 ppm cobalt, and 33 ppb 2PGEs.

Notable intersections include NRRC028, which recorded 52 metres at 0.20% nickel, 144 ppm cobalt, and 33 ppb 2PGEs from 12 metres, and 8 metres at 0.32% nickel, 267 ppm cobalt, and 27 ppb 2PGEs from 24 metres.

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Figure 3: East Prospect – Ni enriched top of profile with copper and sulphur increasing within the profile at depth (NRRC028) DHEM planned for NRDD028 (high nickel, copper, sulphur).

Apart from the priority targets, the Mons Project boasts additional nickel prospects that have exhibited significant mineralisation, including the Indian Sandrunner Prospect which revealed values up to 0.33% nickel, 1126ppm cobalt, and 272ppm copper, while the North Lake Prospect has reported values up to 0.39% nickel, 728ppm cobalt, and 245ppm copper.

Down-Hole Electromagnetic Survey

As part of the ongoing exploration strategy, down-hole electromagnetic surveys will be conducted in specific holes that exhibited high sulphur, nickel, copper, and PGE associations below the outcropping nickel Gossan.

These surveys aim to provide valuable data to pinpoint the location of the nickel sulphide mineralisation accurately.

Nimy Resources Executive Director Luke Hampson commented, “These results along with the recent EM plate anomalies provide strong evidence of a high-grade nickel sulphide deposit at Mons.”

“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.”

NIM’s Australian Stock Exchange-listed share price is currently trading at 16 cents (1:10 pm UTC+ 8 hours).

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