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IMX Resources Limited (ASX: IXR, TSX: IXR, IXR. WT) (IMX) has announced a significant increase in the Ntaka Hill Nickel Sulphide Project (the Ntaka Hill Project) global Mineral Resource estimate.

The Ntaka Hill Project situated in Tanzania, East Africa, comprises the recently updated Sleeping Giant Deposit Mineral Resource estimate1, the previously announced Zeppelin Mineral Resource estimate2 and the existing Mineral Resource estimates for J Zone, G Zone and M Zone as of March 2012.3

IMX MD Neil Meadows said: “The more than doubling of the grade to 0.66% Ni in the Inferred Resource category is particularly significant and challenges the perception that Ntaka Hill is largely a low-grade deposit. When the excellent metallurgy of the resources is taken into account they form the basis of a significant project to be developed in the future.”

The Mineral Resource zones that make up the global Mineral Resource at Ntaka Hill are now seen to form part of a much larger mineralised system, which is consistent with the growth of the Sleeping Giant deposit. “The company’s current drilling programme at Ntaka Hill continues to focus on expanding the open pit potential as well as investigating the mineralisation down plunge of the high-grade shoots that have previously been discovered. We anticipate that further drilling will demonstrate that the mineralised zones at Ntaka Hill are likely to form one very large mineralised system potentially also containing a significant amount of higher grade material,” said Meadows.

Resource modelling work reported recently indicated that the Sleeping Giant Deposit now comprises the Mineral Resources of H Zone, L Zone, NAD-013 zone and Sleeping Giant, which now form a larger single deposit within the Ntaka Hill mineralised system.
This announcement provides a compilation of data that comprises the Sleeping Giant Deposit Mineral Resource estimate, the Zeppelin Mineral Resource estimate2 and the existing Mineral Resource estimates for J Zone, G Zone and M Zone3, the outcome of which confirms a significant increase in contained nickel at a substantially increased grade for the Inferred Resource category.

Ntaka Hill Project, Global Mineral Resources by Mineralized Zone as at July 2013
The total Measured and Indicated Mineral Resources at Ntaka Hill are currently 20.3Mt @ 0.58% nickel (and 0.13% copper) for 117 880 tonnes of contained nickel, and the total Inferred Mineral Resources at Ntaka Hill are currently 35.9 million tonnes @ 0.66% nickel (and 0.14% copper) for 238 500 tonnes of contained nickel.

Highlights

  • Inferred Resource grade more than doubles from 0.3% Ni to 0.66% Ni
  • Measured and Indicated Mineral Resources of 20 323 000 tonnes at 0.58% Ni for 117 880 tonnes of contained nickel
  • Inferred Mineral Resources increase to 35 934,000 tonnes at 0.66% Ni for 238 500 tonnes of contained nickel
 

 

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