FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Nimy Resources’ Unveils Significant Nickel & Copper Discoveries at Masson Prospect

8 December 2023 12:01
ASX: NIM

Nimy Resources (ASX:NIM) has unveiled significant nickel, copper, cobalt, and platinum group elements within sulphide mineralisation at the recently identified Masson Prospect, discovered through diamond drilling at the Block 2 prospect, suggesting the potential for a substantial nickel-copper sulphide deposit within the large electromagnetic anomaly

F2po7euAVfkydHVo?auto=format%2Ccompress&fit=max&h=800&q=75&s=03f84267e8c16eba4a66e8e840c01507

Figure 1: FLEM survey anomaly vs DHEM plate position relative to drill holes 23NRRC0100 and 23NRDD008, strike length of 550m by 175m width.

Geophysical Surveys

The Downhole Electromagnetic (DHEM) survey on hole 23NRRC0100 revealed three additional conductive plates within and off the hole.

The Fixed Loop Electromagnetic (FLEM) survey at Masson Prospect indicated a mineralised sulphide zone within a large electromagnetic anomaly, suggesting the potential for a massive nickel-copper sulphide deposit, spanning approximately 550m in length and 175m in width.

Geochemical Assays

The initial discovery hole (23NRRC0100) intersected 10 metres of disseminated to massive sulphide mineralisation, with notable grades including:

  • 10m from 98m @ 0.42% nickel, 0.39% copper, 0.04% cobalt and 0.32 /t PGE’s (Pt, Pd) including 5m @ 0.73% nickel, 0.53% copper, 0.06 % cobalt and 0.55g/t PGE’s (Pt Pd) from 102m.

A follow-up diamond hole (23NRDD008) confirmed the discovery, intersecting a 54-metre sulphide mineralised zone with elevated nickel, copper, cobalt, and PGE’s values including 5.5m from 126.5m @ 0.36% nickel, 0.27% copper, 0.04% cobalt and 0.25 /t PGE’s.

DsyTbvMj5BYHwK5O?auto=format%2Ccompress&fit=max&h=800&q=75&s=10afcd2750931b5d59fd33e0058baa3a

Figure 2: FLEM survey anomaly vs DHEM plate position relative to drill holes 23NRRC0100 and 23NRDD008, strike length of 550m by 175m width over colour magnetics.

Mineralisation Overview

The nickel-copper sulphide mineralisation is hosted within mafic rocks along a contact defined by magnetics, within a large electromagnetic anomaly following the contact for approximately 550m.

New higher-conductance plates within the electromagnetic anomaly are set to be the primary targets for upcoming drilling.

Future Outlook

The Company is now gearing up for the next drill campaign to test a pipeline of electromagnetic targets, including the prominent Masson Prospect identified through FLEM surveys.

Full interpretation of the 175m x 550m FLEM anomaly and detailed analysis of mineralogy from the Masson Prospect’s massive sulphide petrology are key focus areas, with Nimy’s control over most of the ground in this belt positioning them uniquely to lead exploration in this potentially significant new nickel province.

Management Commentary

Nimy Resources Executive Director, Luke Hampson, expressed enthusiasm about the discovery, highlighting the extension of sulphide mineralisation and the potential for a substantial nickel-copper deposit at Masson Prospect.

“The extension of sulphide mineralisation including massive sulphides hosted within a ma c rock type, within a large electromagnetic anomaly, along a contact zone gives Nimy an excellent opportunity to discover a substantial nickel copper deposit at the Masson Prospect located within a previously underexplored and new greenstone belt,” he said.

“Our exploration strategy and exhaustive work coupled with the excellent work delivered by Resource Potentials enables us to zero in on not only the Masson Prospect, but the additional targets identified using the same geophysical surveys process.”

“The Masson Prospect is a significant breakthrough for Nimy Resources as we move toward establishing the Mons Project as a fertile exploration holding.”

NIM’s Australian Stock Exchange-listed share price is currently trading at $0.16 (12:00pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This