Highly prospective for gallium mineralisation and sits outside the current exploration target.
Highlights:
- Outcropping chlorite schist material uncovered 480m east of the initial gallium discovery, highlighting the potential for additional near-surface mineralisation along trend.
- Chlorite schist material in previous holes typically hosts the high-grade gallium, identified by preliminary mineral characterisation by CSIRO(1).
- Phase II drilling of the Block 3 East Prospect is nearing completion.
- Phase III drilling will be brought forward to test the newly discovered extension and continue once Phase II results have been interpreted.
- To date, only ~10% of the broader 3km x 1.5km prospect area has been explored, highlighting substantial exploration upside and the potential for a large-scale gallium deposit.
- The company is well-capitalised following the recent well-bid $2.75 million capital raise, supported by strategic investors.
Nimy Managing Director Luke Hampson said:
The discovery of chlorite schist 480m to the east of 25PH024 has the potential to add significantly to the Block 3 gallium resource once confirmed and drill tested. Our immediate task is to incorporate the area to the Phase III drill program and confirm the observations of our geologists on the ground that the schist is mineralised and expands our gallium footprint significantly to the east. Nimy remains focused on delivering a JORC compliant gallium resource to underpin the development of our high-grade gallium discovery at Block 3.”
