BLOCK 3 DISCOVERY WITHIN MONS PROJECT, WA
Extremely high-grade gallium and rare earths Maiden Resource
Gallium resource grade more than 100g/t with mineralisation wide open for growth sets up Nimy to be key supplier to western markets.
The Resource:
- Maiden JORC gallium Inferred Resource of 7.23Mt at 102g/t Ga₂O₃ using 70g/t Ga₂O₃ cut-off (740t contained Gallium Trioxide) and 538ppm Total Rare Earth Oxides (TREOs) (3,890t of contained TREOs). The Resource estimate is based only on material located within the oxide and transition zones down to a maximum ~100m
- Known gallium and Total Rare Earth Elements (TREE) mineralisation below 100m deep has not been included in this resource estimate but is included in the Exploration Targets of up to 26Mt at 100g/t Ga2O3 and 100Mt at 810ppm TREO
- Both the gallium and TREE mineralisation remains open along strike and at depth from the JORC Mineral Resource Estimate (MRE)
- The resource model covers a 0.4km² footprint; A surface soil sampling program and an airborne magnetic survey is currently underway across an extended grid covering ~30km² over, around and west of the Block 3 high grade gallium and rare earth discovery
- Rare Earth Elements (REE) component adds significant value to the Block 3 project
Exploration Targets:
Five new Ga2O3 Exploration Targets and one new REO Exploration Target have been defined by SRK in the Block 3 project area. The Exploration Target quantities and grades are conceptual in nature. Insufficient exploration has been conducted to estimate Mineral Resources and it is uncertain if further explorationwould result in the estimation of Mineral Resources.
Furthermore, Nimy personnel have outlined several areas, in addition to Block 3 based on Nimy acquired geophysical and geochemical data, that have potential Ga (and REE) mineralisation. Most notable of these are the Masson, Thompson and Vera’s prospects.
Gallium
- Geophysical and surface sampling data indicates a high likelihood that the mineralisation extends to the west and north-west, refer Exploration Target estimates Table 3 and Figure 5.
Rare Earth Oxides
- The rare earths Exploration Targets include only material within the gallium resource drilling footprint; i.e. REE Exploration Targets have not been defined within or close to the gallium Exploration Targets located outside of the drilling coverage, refer Figure 5.
- The grade tenor of the TREO mineralisation surrounding the gallium zones is slightly higher than that of the material contained within the gallium zones, refer Table 4.
Managing Director Luke Hampson commented:
This resource confirms that Block 3 is an exceptional gallium discovery with grades that are among the highest in the world. And the economic outlook is further boosted by the significant rare earths resource. There is also huge scope to keep growing the inventory of both gallium and rare earths, with known mineralisation extending for at least 50m below the resource boundary and open along strike. “Our focus is firmly on growing the high-grade resource by extending the known mineralisation and testing
the new exploration targets we have outlined.Metallurgical testing and processing development is progressing well, demonstrating that our strategy to produce high-grade gallium and rare earth concentrate at low cost for sale to western markets is on track. Given the recent developments in the Australian and US government’s co-operative approach to ensuring supply of critical minerals, we are very well placed to unlock the substantial value of this exceptional discovery”.
Tony Tang Technical Adviser Extractive Metallurgy Quote:
Exciting metallurgical tests on the Block-3 RC samples were recently undertaken by the talented researchers at Curtin University. The preliminary findings are positive and promising, significantly enhancing our confidence in the extraction, separation, and recovery of gallium from these samples.
“The innovative approaches in extractive metallurgy have shown that gallium-rich minerals from Block-3 can be effectively dissolved using mild acid leaching conditions. Plus, we have successfully investigated and are developing a straightforward method to separate gallium from other metals.
“These encouraging results will empower our project team to create a robust metallurgical flow sheet and pursue a larger scale test work program and further studies”.
