Nov 8 2012
IMX Resources Limited (ASX:IXR)(TSX:IXR)(TSX:IXR.WT) ('IMX' or 'the Company') reports that a 4200 station gravity survey has commenced at the Ntaka Hill Nickel Sulphide Project. The project is located approximately 250km west of the port town of Mtwara, and is part of the 100% owned Nachingwea property in south eastern Tanzania.
Location of Ntaka Hill and Lionja ultramafic trend with gravity survey outline
The detailed gravity survey has been designed to cover an area of 100km2 over the Ntaka Hill and Lionja ultramafic intrusions (Figure 1). This survey is expected to map the subsurface extents of these intrusions and identify the more dense mineralised portions of the intrusion.
Historical targeting of nickel sulphide mineralisation at Ntaka Hill has focussed on massive sulphide zones represented by conductors identified using airborne and ground EM geophysical survey techniques. The success of recent exploration in discovering new nickel sulphide mineralisation without these associated conductors has justified a case for undertaking systematic exploration using alternative techniques within the mineralised intrusive complex for sub 1% nickel zones. The Company's improved understanding of the simple metallurgical characteristics in this high nickel tenor, low pyrrhotite, high pentlandite nickel sulphide system means there is significant upside potential to this approach as recent exploration has also demonstrated that these wide disseminated nickel zones frequently contain lenses of > 1% nickel sulphides.
The results of the gravity survey will be integrated with the results from an induced polarisation (IP) survey completed in August 2012 and soil sampling, to identify new mineralisation targets that do not rely solely on the presence of strong conductors. It is expected that the use of new geochemical and geophysical survey techniques will enhance exploration success during 2013 as the Company seeks to rapidly increase its resource base at Ntaka Hill.
NEIL MEADOWS, Managing Director
Competent Persons / Qualified Person / NI 43-101 Statement
Information in this report relating to exploration results is based on data collected under the supervision of, or compiled by Patricia Tirschmann, P. Geo., who holds the position of Vice President, Exploration and is a full time employee of IMX Resources. Ms. Tirschmann is a registered member of the Association of Professional Geoscientists of Ontario and has sufficient relevant experience as a qualified person as defined by NI 43-101 and a competent person under the Australian JORC (2004). Ms. Tirschmann consents to the inclusion of the data in the form and context in which it appears, and approves this disclosure.