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Nimy Resources to Commence Drilling at Mons Project Following Compelling Anomalies

27 July 2023 13:47
ASX: NIM
Nimy Resources ASX NIM Gossan Dease PXRF Readings Nickel Mons

Nimy Resources (ASX:NIM) is gearing up to begin drilling activities at its Mons Project in Western Australia next quarter, following the discovery of compelling anomalies rich in nickel, lithium, and rare earth elements (REEs), hinting at the potential for significant mineral discoveries.

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Figure 1: Priority prospects by commodity and work program with hyperspectral lithium anomalies (coloured, warmer is greater propectivity) over greyscale magnetics

Lithium Anomalism Uncovered

Nimy Resources’ soil sampling campaign has unveiled robust lithium anomalism, with lithium oxide values reaching up to 187ppm. The fertile pegmatite hyperspectral target at the Royale Prospect, situated 1.3km northwest of the original drill line, has drawn significant attention, with a Program of Work (POW) for RC Drilling already being submitted for approval, targeting high-grade lithium.

While recent drilling confirmed the presence of fertile LCT Pegmatites over significant widths at the Royale Prospect, it did not fall within the “Goldilocks Zone,” which denotes the optimal area for lithium discoveries.

However, the newly identified hyperspectral target, situated around 3km from the greenstone-granite contact, aligns perfectly with previously successful lithium discoveries within the sought-after “Goldilocks Zone.” Seven targets have been highlighted from the hyperspectral survey, with two additional targets awaiting assay results from soil sampling.

Nickel Targeting High Conductance Anomalies

The Company is equally enthusiastic about the nickel potential at the Mons Project, having already submitted POWs for RC Drilling, intending to focus on two VTEM/MLEM high conductance anomalies that hold promising prospects for nickel massive sulphides.

Nimy also plans to initiate Downhole Electromagnetic (EM) surveys in late August at the Dease Gossan and East Gossan Prospects, with these surveys enabling targeted drilling of potential EM plates, aiding in the search to uncover significant nickel sulphide deposits.

Rare Earth Elements Exploration Advances

In addition to lithium and nickel, the approval of an Environmental Impact Statement co-funded diamond hole, capable of reaching depths up to 1000 metres, marks a significant milestone in the Project’s pursuit of valuable REE deposits, with these elements being in high demand for various technological applications.

Nimy Resources’ Executive Director, Luke Hampson, expressed enthusiasm for the upcoming drilling activities, stating, “We have generated some outstanding targets through extensive geophysics and sampling. The results show they are very compelling targets, and we are looking forward to drilling once all approvals have been secured.”

NIM’s Australian Stock Exchange-listed share price is currently trading at 15c (1.05 pm UTC+ 8 hours).

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