The newly-discovered stretch of extensive anomalism, which sits well away from previously-announced nickel and lithium targets, shows the immense prospectivity of the greenstone belt at Mons.
- Reverse circulation drilling reveals a 4.5km-long corridor (the Indian Sandrunner to South Lake corridor) of rare earth element and copper-lead-zinc anomalism
- Assays reveal rare earth element mineralisation in nine drill holes with TREO (2) + Y ((Total Rare Earth Oxide + Yttrium Oxide (cerium CeO₂, lanthanum La₂O₃ + yttrium Y₂O₃)) with values up to of up to 1m 0.24% TREO+Y (1897ppm CeO₂, 371ppm La₂O₃, 85ppm Y₂O₃) from 56m
- Samples submitted for re-assay of full rare earth element suite
- Copper, lead, zinc, +/- silver sulphide zones (20-24m width) in three drill holes along the corridor; Highlights include
- Peak value for copper of 1m @ 847ppm Cu, 395ppm Pb, 0.16% Zn, 3ppm Ag from 117m
- Peak value for lead of 2m @ 25ppm Cu, 0.54% Pb, 952ppm Zn from 201m
- Peak interval for zinc of 1m @ 435ppm Cu, 104ppm Pb, 0.48% Zn from 192m
- Peak value for silver of 1m @ 617ppm Cu, 908ppm Pb, 0.37% Zn, 8ppm Ag from 116m
- Follow-up work underway to assess the source of the mineralisation
- Bismuth, molybdenum and silver sulphide zones in hole NRRC091 drilled into the low magnetic core of the Mons Carbonatite Prospect o Peak value 1m @ 347pm Bi, 51ppm Mo, 6ppm Ag, 0.47% S from 18m
- EIS cofunded diamond hole of up to 1000m depth through the core scheduled to commence August
Nimy Resources Executive Director Luke Hampson said:
We have identified a 4.5km corridor of rare earth and base metal mineralisation on the western fringe of our drilling campaign. This mineralisation remains open in all directions. The results are extremely prospective and we are assessing the possible sources of the anomalism”.“Preliminary drilling at the rare earths carbonatite prospect shows that the core is mineralised with bismuth, molybdenum sulphides to the extent of the drilling and is of a different rock type to peripheral drill holes. The core mineralisation, particularly a sulphide zone, gives us encouragement to drill deeper. This will be done as an EIS diamond hole down to a maximum depth of 1km. These results provide more evidence that Mons hosts a standalone greenstone belt of significance with rare earth element and base metal potential in addition to our more advanced and main focus of lithium and nickel exploration”.
This announcement has been approved for release by the Board.