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Nimy Resources Announce Promising Mons Project Drill Intersects

25 October 2023 10:00
ASX: NIM
NImy

Nimy Resources (ASX:NIM) has announced promising drill intersects from its most recent drill campaign at the Mons Project in WA, reporting intersections of copper and nickel sulphides at 54 metres from 118 metres, with assays still pending.

Nimy’s Drilling Campaign

Diamond drilling was conducted on the two MLEM Plates in Block 2 at the Project, intersecting a 54 metre mineralised zone of massive, semi massive and disseminated sulphide mineralisation containing pyrrhotite, chalcopyrite and pyrite from 118 metres.

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Figure 1: Semi-massive sulphides hosted by mafic -pyrrhotite >> pyrite

The Company reports the massive sulphide intersections coincide with the modelled MLEM plate locations.

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Figure 2: Semi-massive chalcopyrite at contact of felsic and mafic rocks

After the successful drilling, Nimy is set to conduct downhole electromagnetic (DHEM) and fixed loop electromagnetic (FLEM) surveys within the next two weeks.

Additionally, the Company has scheduled more diamond drilling, this time in Block 3, situated approximately 10 kilometres south of Block 2, with the aim of testing similarly modelled conductive plates.

Mons Ongoing Progress

This latest development further underscores the immense prospectivity of the Mons Project, an extensive area encompassing 16 approved tenements, with one undergoing approval, spanning 2,806 square kilometres along an 80-kilometre north-to-south stretch of mafic and ultramafic sequences.

The Project, located in the Murchison Domain of the Youanmi Terrane within the Archean Yilgarn Craton, boasts fertile ‘Kambalda-Style’ and ‘Mt Keith-Style’ nickel-rich komatiite sequences, and it has already exhibited promising mineralisation in prior assessments.

Nimy’s recent confirmation of significant nickel and copper sulphides has paved the way for a successful drill campaign, and the Company is committed to continuing its exploration efforts, aiming to unlock the full potential of the Mons Project.

Game Changing Results

Nimy Resources’ Executive Director Luke Hampson remarked that the intersection of 54 metres of substantial sulphide mineralisation is a clear game-changer for the Company.

“Importantly, the result is entirely consistent with the conductor plates we have modelled using geophysics,” he said.

“In light of this result, we are moving quickly to do DHEM and FLEM surveys to gain further understanding of the size of the intrusive and to locate related anomalies around and below the discovered sulphide zone.”

NIM’s Australian Stock Exchange-listed share price has risen 33.33% and is currently trading at $0.24 (9:50am UTC+ 8 hours).

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