IMX Resources' geochemical work defines nickel, copper targets in Tasmania

IMX Resources' (ASX: IXR) geochemical work has demonstrated potential for nickel, copper and PGE at its North-western Tasmania Nickel Copper Project. 

In addition, low level anomalous geochemistry has consistently demonstrated the potential for nickel, copper and platinum group elements mineralisation across the project area.

The project comprises four granted exploration licences covering 481.6 square kilometres and one new 88.6km2 application.

IMX began drill testing priority VTEM conductor targets in early 2009, but was hampered by a combination of poor weather and difficult ground conditions resulting in the early termination of the drilling programs.

Since February 2011, a total of 144 geochemical samples comprising 130 MMI soils, 9 rock chips and 5 Heavy Mineral Concentrate stream sediment samples have been collected across the project.

Petrological analysis from two recent core samples has identified relict chromites, confirming the ultramafic nature of the rock despite its highly altered and leached state.

An unusually high concentration of titanium oxide (6.8% TiO2), fine grains of a copper-tin alloys and anomalous Rare Earth Elements were also identified.

The geochemical similarity of these rocks with titanium rich alkaline komatiites or meimechites, which are considered to have high PGE potential, increases the prospectivity of the region.

The Tasmanian exploration project is a joint venture between IMX (96%) and Barrett Exploration (4%).

IMX operates the Cairns Hill copper-gold mine in South Australia, and exploration projects in South Australia and Tasmania, as well as Tanzania and Mozambique in East Africa.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/20120/imx-resources-geochemical-work-defines-nickel-copper-targets-in-tasmania-20120.html