Strong nickel and copper intersections within large electromagnetic anomaly at Masson Prospect

10 months ago

54m containing sulphide mineralisation including massive sulphides hosted within a mafic rock type, within a large electromagnetic anomaly, along a contact zone

Nimy Resources Ltd (ASX:NIM) advises that follow up diamond drilling has confirmed discovery of significant nickel, copper, cobalt and PGE’s within sulphide mineralisation at the Block 2 prospect. The discovery has been named the Masson Prospect. Drill targets including new high conductance plates modelled from the DHEM are being readied for follow up drilling.

KEY POINTS

Geophysics

Downhole electromagnetic (DHEM) survey completed on hole 23NRRC0100 has resulted in 3 additional conductive plates modelled within and off the hole.
Fixed loop electromagnetic (FLEM) survey completed at the Masson Prospect indicate the mineralised sulphide zone is within a large (550m long x 175m wide) EM anomaly – indicating potential for the Masson discovery to be a large, massive nickel-copper sulphide deposit.

Geochemical Assays

The first hole – the discovery intersection – reverse circulation hole (23NRRC0100) intersected 10 metres of disseminated to massive style sulphide mineralisation:
- » 10m from 98m @ 0.42% nickel, 0.39% copper, 0.04% cobalt and 0.32g/t PGE’s (Pt, Pd) including 5m @ 0.73% nickel, 0.53% copper, 0.06 % cobalt and 0.55g/t PGE’s (Pt Pd) from 102m.
Follow up diamond hole (23NRDD008) – intersected a 54-metre sulphide mineralised zone from 126m as predicted by the EM model, assay highlights include:
- » 5.5m from 126.5m @ 0.36% nickel, 0.27% copper, 0.04% cobalt and 0.25g/t PGE’s (Pt, Pd) including 2m from 130m @ 0.66% nickel, 0.42% copper, 0.07% cobalt and 0.57g/t PGE’s (Pt, Pd) and 1m from 130m @ 0.81% nickel, 0.46% copper, 0.07% cobalt and 0.53g/t PGE’s (Pt, Pd)
- 2m from 136.5m @ 0.37% nickel, 1.07% copper, 0.07% cobalt and 0.27g/t PGE’s (Pt, Pd) including 1m from 137m @ 0.40% nickel, 1.49% copper, 0.10% cobalt and 0.29g/t PGE’s (Pt, Pd) and 0.5m from 137m @ 0.35% nickel, 2.05% copper, 0.17% cobalt and 0.33g/t PGE’s (Pt, Pd)
- The mineralisation continues to 171.5m and also contains elevated values of cobalt and platinum group metals (PGM’s) (see table 1).

Overview

The nickel, copper sulphide mineralisation is hosted by mafic rocks along a contact defined by magnetics and within a large electromagnetic anomaly which follows the contact for ~550m.
Within the large EM anomaly exist new higher conductance plate’s which will be the initial target for upcoming drilling along with additional targets coming out of the final modelling of the large FLEM anomaly.
The drilling potentially defines a new unexplored nickel-copper province in which Nimy holds a greater than 3000km² landholding. Moreover, Nimy’s exploration methodologies have been fully vindicated including the engagement of Resource Potentials’ Geophysicist’s to manage and interpret all VTEM, MLEM, FLEM and DHEM geophysical surveys completed so far.
Petrological studies are underway to determine the probable style of Ni-Cu mineralisation and ore mineralogy.
The Masson Prospect is in a previously unexplored, difficult to access area covered by transported overburden, and was discovered with the first reverse circulation hole designed to intersect and test two potential electromagnetic conductors at the Masson (Block 2) Prospect.