Nimy Resources (ASX:NIM) has commenced drilling at its flagship Mons Project in Western Australia, conducting follow up testing on lithium and nickel targets identified via extensive geophysics.
The drilling program comes hot on the heels of Nimy’s recent obtainment of a $2.5 million cornerstone investment from Lind Global Fund II, LP, managed by Lind Partners, to drive its nickel and lithium drilling programs at the Mons Project, signifying a substantial advancement in the Company’s exploration agenda and growth strategy.
Figure 1: Nimy Resources Mons Nickel Project
In July, the Company achieved a significant milestone at the Mons Project by identifying two high-conductance electromagnetic plates during the survey, indicating the potential presence of massive sulfide mineralisation. This breakthrough led to the commencement of drilling later in the same month.
This drilling intersected anomalous lithium over significant widths and the assays also contained several other key lithium indicator minerals which suggest Nimy is in a fertile LCT pegmatite complex.
Today, Nimy has announced the initiation of a 16-hole program that will specifically target the ‘Goldilocks’ lithium zone. This program includes six holes designed to assess the highly promising lithium target area previously identified through drilling and geophysics.
The Drilling Program
Through previous drilling and hyperspectral surveys conducted at the Mons Project, Nimy has uncovered a highly promising anomaly located 1.3 kilometres away from the previously drilled areas of the Project.
The anomaly is positioned within the greenstone belt, situated three kilometres from the greenstone-granite contact point, often referred to as the ‘Goldilocks Zone’ due to its association with numerous lithium deposits.
The forthcoming drilling campaign has a specific focus on this anomaly, intending to assess its potential viability.
In addition to the six holes dedicated to evaluating the high-potential lithium target area, the program includes an additional 10 holes designed for testing various nickel sulfide targets. These targets were pinpointed by the Company through a combination of VTEM and Moving Loop surveys.
Nimy reports these targets have returned high conductance anomalies and present as excellent nickel-sulphide hot spots.
Figure 2: Coloured magnetic survey showing drill targets
The Company will persist in its pursuit of potential targets through a comprehensive analysis of Helicopter VTEM and Moving Loop surveys, with the drilling phase anticipated to span several weeks, during which collected samples will be dispatched to Intertek for thorough analysis.
The Company is committed to sharing the results as soon as they become available.
Nimy’s Executive Director, Luke Hampson, also shared his remarks regarding the commencement of drilling at the Mons Project.
“We have established compelling lithium and nickel sulphide targets resulting from extensive geophysical surveys and drilling already undertaken at Mons,” he said.
“This drilling campaign comprises 16 holes designed to test these targets, starting today.”
NIM’s Australian Stock Exchange-listed share price has risen 7.69 per cent and is currently trading at 14 cents (11:20am UTC+ 8 hours).