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Nimy Resources Prepares for Follow Up Masson Prospect Drilling

11 January 2024 09:02
ASX: NIM
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Nimy Resources (ASX:NIM) is set to initiate a new RC drilling program next week at its Mons Project in Western Australia, with the objective of further testing the massive sulphide mineralisation it discovered late last year at the Masson Prospect.

Testing Conductive Plates

In October last year, Nimy conducted diamond drilling on the two MLEM Plates within Block 2 at the Mons Project, revealing a 54-meter mineralised zone comprising massive, semi-massive, and disseminated sulphide mineralisation containing pyrrhotite, chalcopyrite, and pyrite, starting from a depth of 118 metres.

After receiving these promising results, the Company conducted Downhole Electromagnetic (DHEM) and Fixed Loop Electromagnetic (FLEM) surveys which revealed three additional conductive plates.

Results indicated a mineralised sulphide zone within a large electromagnetic anomaly, suggesting the potential for a massive nickel-copper sulphide deposit, spanning approximately 550 metres in length and 175 metres in width.

The follow-up drilling campaign is set to target the new conductive plates, FLEM and DHEM, extending north, south and beneath the initial MLEM plates.

Holes are currently being cased to prepare for additional DHEM surveys, which will capture any extension of the high conductance plates along the FLEM trend, which is open north, south and below the current plate modelling.

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Figure 1: A FLEM survey was conducted extending the anomaly north and south. The FLEM conductive trend fits within a curve in the north – north west magnetic trend suggesting contact mineralisation

A Successful Initial Campaign

The initial drilling campaign was extremely promising for the Company, with Nimy considering the discovery a potentially new region of sulphide-hosted mineralisation, as nothing of this tenor is known to exist within a 50 kilometre radius of Masson or Block 3.

The drilling successfully discovered a massive sulphide mineralised system, containing anomalous nickel, copper, cobalt and PGE’s.

Significant results from drilling of the MLEM plates:

  • Hole 23NRRC0100 intersected 10 metres of disseminated to massive style sulphide mineralisation
    • 5 metres @ 0.73% nickel, 0.53% copper, 0.06 % cobalt and 0.55g/t PGE’s (Pt Pd) from 102 metres.
  • Hole 23NRDD008 intersected a 54-metre sulphide mineralised zone from 126 metres as predicted by the EM model
    • 2 metres @ 0.66% nickel, 0.42% copper, 0.07% cobalt and 0.57g/t PGE’s (Pt, Pd) including 1 metre @ 0.81% nickel, 0.46% copper, 0.07% cobalt and 0.53g/t PGE’s (Pt, Pd) from 130 metres
    • 1 metre @ 0.40% nickel, 1.49% copper, 0.10% cobalt and 0.29g/t PGE’s (Pt, Pd) including 0.5 metres @ 0.35% nickel, 2.05% copper, 0.17% cobalt and 0.33g/t PGE’s (Pt, Pd) from 137 metres

Company Comments

Nimy Resources’ Executive Director Luke Hampson commented on the upcoming campaign.

“We are focused on extending our understanding of the massive sulphide mineralisation,” he said.

“We believe initial results are highly significant and an excellent opportunity to discover a substantial nickel copper deposit at the Masson Prospect.”

“We are moving quickly to establish the extent of the massive sulphides hosted within the mafic rock type, within a large electromagnetic anomaly and along the contact zone.”

NIM’s Australian Securities Exchange-listed share price has risen 4.55% and is currently trading at $0.115 (8.45am UTC+ 8 hours).

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