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Nimy Resources discover EM anomalies at Vera’s Gossan

25 June 2024 14:24
ASX: NIM

Nimy Resources (ASX:NIM) have announced a significant update on their recent exploration activities at the Vera’s Gossan prospect, located within their extensive 3004km² Mons Project in Western Australia. The company has identified several promising electromagnetic (EM) anomalies that suggest the presence of valuable base metal sulphides.

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Figure 1: Location of the Vera’s Gossan, Masson Discovery and Block 3 Prospect within the tenement holding.

MLEM survey

A moving loop electromagnetic (MLEM) survey conducted by GAP Geophysics has revealed three large EM anomalies at Vera’s Gossan. These anomalies are found beneath the surface and extend southward, remaining open to the north.

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Figure 2: Vera’s Gossan (white square), MLEM station points (black dots are stations acquired), over satellite image

Alongside the MLEM survey, a Gradient Array Induced Polarisation (GAIP) survey has been completed at Block 3, with results expected soon.

Rock chip samples from the Gossan have returned highly anomalous assays. Notable samples include nickel at 2750ppm, copper at 1119ppm, cobalt at 1370ppm, zinc at 3180ppm, and sulphur at 1360ppm.

Management comments

Luke Hampson, Nimy’s Executive Director, expressed optimism about the findings. “The MLEM survey at Vera’s Gossan has identified three large EM anomalies, suggesting possible base metal sulphide mineralisation. This follows the discovery of a mineralised gossan with anomalous levels of nickel, copper, cobalt, and zinc.

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Figure 3: Vera’s Gossan over coloured magnetics.

“The GAIP survey at Block 3 is complete with results imminent, our exploration strategy continues to unlock the potential of the newly identified greenstone belts within Nimy’s 3004km² Mons Project holding.”

Next steps

Plans are underway for a drill program at Vera’s Gossan, aiming to further investigate these promising anomalies. This drilling will be conducted alongside the ongoing Masson Discovery drilling and recommendations from the Block 3 GAIP survey.

NIM’s Australian Security Exchange-listed share price is currently trading at $0.06 (2:15 pm UTC+ 8 hours)

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