Initial assays from hole 23NRRC0100 designed to test a modelled VTEM/MLEM conductive plate in Block 2 returned:
- 5m @ 0.73% Ni, 0.53% Cu, 0.06% Co and 0.55 g/t 2PGE from 102m;
- Calculated Ni equivalent is 5m @ 1.16% Ni, with a peak value of 1m @ 1.47% Ni equivalent.
- Drilling is interpreted to have intersected the southern edge of the upper plate, with initial 2D dimensions interpreted as 20m x 100m. Lower plate 2D dimensions interpreted as 50m x 150m.
- A diamond rig arriving on site to drill the EIS funded carbonatite hole has instead been deployed to Block 2 to directionally drill through both plates. Drilling has commenced.
- Assays from another high priority 60m disseminated sulphide intersection in RC drill hole 23NRRC101 on Block 3 are pending.
- Holes have been cased in preparation for a downhole electromagnetic (DHEM) survey coupled with fixed loop electromagnetic (FLEM) survey to enhance understanding of the plates’ dimensions and identify any off-hole conductors present, particularly at depth below the identified conductors.
NIMY Resources Executive Director Luke Hampson said:
The confirmation of massive sulphide mineralisation in our first drill hole at Block 2 provides us with ongoing confidence. The result is particularly pleasing given that it has only hit the edge of the interpreted conductor plate. We have redirected the diamond rig to Block 2 so that we can test the middle of both plates. This next hole is set to start in days. We will then undertake DHEM and FLEM to identify any off-hole conductors that may be present. We are particularly interested in what may lay below the two already identified plates. The initial assessment of mineralisation indicates that we have a near-vertical intrusive. Today’s result continues to enhance Nimy’s overall land package whereby we have an additional 31 VTEM anomalies undergoing further investigation and now have a strong baseline comparative.”
This announcement has been approved for release by the Board.