19 September 2008
ADDITIONAL HIGH GRADE NICKEL,
COPPER AND COBALT INTERSECTIONS AT NACHINGWEA
IMX
Resources NL (ASX:IXR) is pleased to report the first assay results from the
2008 Nachingwea JV drilling program in Tanzania which were announced by JV partner TSXV listed
Continental Nickel Limited (?CNI?) in which IMX Resources has a substantial
shareholding of 47.3%.
Of the 10 holes for which assays have been received, eight drill holes intersected high grade intervals of
nickel and copper in sulphide and oxide mineralisation, with several of the
drillholes also intersecting significant cobalt mineralisation.
The highlights of the drill assays received are:
NAD013 Zone:
? 14.61% nickel, 3.04% copper and 0.20% cobalt over
1.85m and 14.95% nickel, 5.46% copper and 0.21% cobalt over 1.30m within 6.35m
grading 7.46% nickel, 2.04% copper and 0.10% cobalt,
J Zone:
? 1.68% nickel and 0.28% copper over 26.00m
?
4.31% nickel, 0.54% copper and 1.13% cobalt over 3.00m
within 12.00m grading 2.05% nickel, 0.29% copper and 0.07% cobalt,
Duncan McBain, Manager Director of IMX
Resources said ?The Nachingwea project has again produced some spectacular
drill results from the Ntaka Intrusion which reaffirm the potential of the
area.?
?We keenly
await further assay results from both the Ntaka area and the new regional
targets, as well as the interpretation from the VTEM survey which was flown in
June / July.?
2008 Diamond
Drilling Program
The 2008 diamond drilling program is continuing to
evaluate the 2006 and 2007 discoveries of seven high grade zones of nickel /
copper mineralisation at the Ntaka Intrusion. In addition new regional targets
identified from the 2007 VTEM survey are also being tested.
Previous reported intersections from the Ntaka Intrusion include 1.90m @
17.11% Ni and 2.71% Cu and 3.00m @ 11.23% Ni and 1.74% Cu at NAD013 Zone, 6.35m @ 7.11% Ni and
0.71% Cu within 21.0m @ 3.35% Ni and 0.46% Cu at J Zone, 9.55m @ 7.50% Ni and 1.15% Cu at H Zone, 2..9m
@ 4.56% Ni and 0.81% Cu, and 4.35m @ 4.66 % Ni and 0.91% Cu within 15.25m @
2..4% Ni and 0.5% Cu at L Zone.
Figure 1: Ntaka
ground EM targets with nickel ? copper sulphide zones highlighted
Eighty drill holes
totalling 9,447m have been completed to date in 2008. Two diamond drills have
been operating since July and it is anticipated that 12,000 to 15,000m of
drilling will be completed during the current field season.
Nachingwea
Holding Structure
The IMX Resources interests in the Nachingwea project are held
indirectly through a 47.3% interest in Continental Nickel, which holds a 70%
interest in the Tanzanian JV company, Ngwena Limited. Ngwena is the licence
holder for the Nachingwea tenements. IMX Resources also holds a 30% direct
interest in the project through a 30% interest in Ngwena.
IMX Resources 30%
interest is free carried up to the completion of a feasibility study or the
expenditure of Cdn$15m. Continental Nickel can earn an additional 5% on
completion of the feasibility study and a further 5% upon the expenditure of
Cdn$15m
The full version of the
announcement and results is available at: http://www.purplecom.com.au/_content/documents/941.pdf
DUNCAN MCBAIN
MANAGING DIRECTOR
***
Issued by
Purple Communications
Level 3, 28
Kings Park Road, WEST PERTH
WA 6005
Ph: 08 9485 1254 Fax: 08 6263
0455
purple@purplecom.com.au