Nimy Resources: First hole at Godley intercepts 275m ultramafic zone with nickel and copper sulphides

Key Points

-          The first diamond drill hole at Godley, NRRD0001, has intersected a 275m zone of komatiite ultramafic containing nickel and copper sulphides

-          Nickel and copper mineralisation was confirmed using pXRF

-          Assays are pending on the diamond core from this hole. A second diamond hole at Godley has been completed with interpreted results pending.

-          The diamond hole utilised a previous 115m RC hole as a pre-collar which intersected 100m of mineralisation at average of 0.15% nickel from 15m depth. This increased the total known mineralised zone to 375m

-          The pXRF results of the diamond drill hole highlight the significant prospectivity of the district and the potential for nickel sulphide mineralisation across the greater Mons Project

Nimy Resources (ASX: NIM) is pleased to announce that it has made a promising start to the 2022 exploration campaign at its Mons Nickel Project in WA (Figure 1).

Preliminary interpretation of the core from the first diamond drill hole (NRDD0001) at the Godley Prospect in Zone A (Figure 2, Figure 3) identified an additional 275m of ultramafic (komatiite), containing sulphide.

This diamond hole represents the deepest drilling undertaken to date in this region, adding considerable stratigraphic and lithological information to further characterise the prospective mineralisation profile within the fertile komatiite flow.

The diamond hole followed up a previous reverse circulation (RC) program at Godley which consisted of three holes. The central 115 m hole, NRRC002, drilled in 2021, was used as the NRDD0001 pre-collar.

In a region where komatiites have not previously been identified, the first diamond hole confirms that the Mons area hosts a greenstone belt containing komatiite hosted nickel and copper sulphides to a considerable depth.

Drilling and pXRF testing of the second diamond drill hole, NRDD0002, has also been completed and interpretation of the results is pending.

Nimy’s Geological Technical Advisor, Ian Glacken, stated:

‘Inspection of the core and the pXRF results confirm significant thicknesses of fresh komatiite flows, with sulphur in the system, which are prospective for nickel and copper mineralisation. The magnesium oxide (MgO) results are sufficiently high to confirm the assumptions in Nimy’s Independent Technical Assessment Report (ITAR) and provide a proof of concept for a disseminated nickel-copper sulphide mineralisation model.’

Figure 1 - Mons Nickel Project - Exploration Zones including the Godley Target

Figure 2 - Mons Nickel Project Zone A, showing location of Godley Target

Figure 3 - Diamond Drill Rig at the Godley Target - NRDD0001

Preliminary pXRF readings and inspection of the drill core for hole NRDD0001 indicate that the hole is predominantly komatiite, interspersed with thin mafic intrusions (typically 1-3 m). This has been confirmed by the MgO (magnesium oxide) readings taken with the pXRF instrument which shows 279m at an average grade of 26% MgO within the komatiite units.  The komatiite interpretation was further confirmed through the observation of mineralogy and flow textures.

An Olympus Vanta Series pXRF has been employed to assist with the interpretation of the core and to provide preliminary identification of nickel and copper sulphides. 

Important Note: Assay results are required to determine the exact widths and grades of any sulphide mineralisation.  When these results are available the Company will provide an update.

Further analysis and interpretation of the pXRF information is underway, with the aim of defining broad zones of nickel and copper mineralisation.

The core is presently being photographed, then prepared to be sent offsite for detailed core logging, core cutting and nickel, copper, cobalt, iron and sulphur assays. Updates will be provided as the detailed assay information has been completed and the results are interpreted.

Godley target technical details

Diamond drillhole NRDD0001 commenced at 115 metres following Reverse Circulation pre collar, RC hole NRRC002, and intersected a high-MgO ultramafic rock from 15m to the end of the hole at 115m. Details of the collars are shown in Table 1 and Figure 4.

Table 1 - Godley drillhole information

Figure 4 - Godley Target - Including previous RC holes and Diamond drill collar locations

The interval in hole NRRC002 assayed 100 metres at 0.15% Nickel and 21% MgO, with a maximum nickel value of 2,000ppm (0.2%) and a peak MgO value of 34%.  The interval was interpreted (through observation and geochemical characterisation, including assaying) as a komatiite.  Details of the NRRC002 intersections, not previously reported, are in Table 2 below.  Full details of the sampling, sample preparation and assaying of the RC hole NRRC002 are provided in the appendix.

Diamond drill hole NRDD0001 was commissioned to test the depth, orientation and mineralisation of the komatiite flow identified in the original RC holes. The komatiite continued to 390m depth and the hole moved into a felsic underlying unit (with visual interpretation as a granite or pegmatite) which was then drilled for a further 22.7 m. 

A second hole, NRDD0002, has been collared from the same drill location, oriented at 330 degrees azimuth, 70 dip, in the direction of the previous identified fixed loop conductive trend (Figure 5) This hole has been completed; the preliminary (pXRF) results of this hole will be reported to the market once the information becomes available.  Details of the fixed loop EM survey have been provided in Nimy’s ITAR, which accompanied the Company’s prospectus.

Figure 5 - Fixed Loop EM Conductive Trends located over the Godley and Dease Targets in Zone A

Coupled with the information from NRDD0001, the second drill hole was designed to intercept the komatiite basal contact and to determine the local and regional orientation of any mineralised zones within the komatiite sequence.

Forward Work Plan

The Company’s immediate work plan includes the following:

-          The Godley drillholes are to be logged, interpreted, and assayed using industry-standard techniques.

-          Additional geochemical and petrography testwork to be completed on selected sections of the core to determine the mineralogy and mineralisation types in each discrete anomalous zone with higher nickel and copper grades.

-          Both holes are to be reviewed to determine the stratigraphic orientation of the ultramafic komatiite flow, lithological connections of the mineralised zones and the structural orientation of the basal contact.

-          Moving Loop EM (MLEM) and Downhole EM (DEM) will be completed over the Godley target area.

-          Current and historic information will be combined and used to plan additional exploration stages at the Godley Target.

This updated information will continue to be utilised for updating the Mons exploration targeting model and pipeline of exploration targets.

Summary of significant intersections in NRRC002

The significant intersections in the RC hole NRRC002 have not previously been reported. Table 2 below details significant intersections based on chemical assays (XRF, see the appendix).  A cut-off grade of 1000 ppm Ni (0.1%) has been applied to reflect the presence of anomalous mineralisation and in consideration of the stage of exploration. Details of RC drilling, sampling and assay techniques are provided in the Table 1 declaration in the appendix.

Table 2 – Hole NRRC002 – significant intersections

About Nimy Resources and the Mons Nickel Project

Nimy Resources is an emerging exploration company, with the vision to responsibly discover and develop an economic nickel sulphide project in a Tier 1 jurisdiction, Western Australia.

Nimy Resources has prioritised the development of the Mons Project, a district-scale landholding consisting of 12 tenements, covering an area over 1,761sqkm along an 80km north/south strike (Figure 6).

Mons is located 140km north of Southern Cross and covers the Karroun Hill Nickel district on the northern end of the world-famous Forrestania nickel belt. Mons features a very similar geological setting to the southern end of the Forrestania belt and the Kambalda nickel belts.

The project is situated within a large scale fertile “Kambalda-Style” and “Mt Keith-Style” Komatiite sequences within the Archaean Murchison Domain of the Youanmi Terrane of the Yilgarn Craton.

Figure 6 – Location and Nimy’s tenement holding for the Mons Nickel Project

Authorised for release by the Nimy Resources Limited Board of Directors

Company Information  

Nimy Resources Limited   

Christian Price   

Managing Director    

[email protected] 

(08) 9261 4600

Investor & Media Information

Read Corporate

Paul Armstrong

[email protected]

(08) 9388 1474

COMPETENT PERSON’S STATEMENT

The information contained in this report that pertain to Exploration Results, is based upon information compiled by Mr Ian Glacken, a full-time employee of Snowden Optiro Limited. Mr Glacken is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Glacken consents to the inclusion in the report of the matters based upon his information in the form and context in which it appears.

FORWARD LOOKING STATEMENT

This report contains forward looking statements concerning the projects owned by Nimy Resources Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on management’s beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

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