IMX Resources extends high grade nickel, copper zone in Tanzania

IMX Resources (ASX: IXR) and partner Continental Nickel (TSXV: CNI) have extended the Sleeping Giant high grade core by 100 metres down plunge to the south at the Nachingwea Nickel Copper Joint Venture Project.

A recent drillhole returned best intersections of 14.3 metres at 2.66% nickel and 0.6% copper and 9.65 metres at 2% nickel and 0.24% copper within a wider intersection of 43.95 metres at 1.4% nickel and 0.29% copper from 359.8 metres.

Meanwhile, in the north, new drilling has extended the Sleeping Giant mineralisation up plunge by 100 metres on two sections.

One hole intersected wide disseminated nickel zones, with 23.4 metres at 0.31% nickel and 0.06% copper from 31.7 metres and 5.2 metres at 0.84% nickel and 0.21% copper from 212.15 metres.

Importantly, the Sleeping Giant mineralisation remains open to the south and east as well as down plunge to the south.

Additionally, disseminated nickel sulphide mineralisation has been intersected above the Sleeping Giant zone in the hanging wall.

These intersections have average grades of 0.2-0.6% nickel over widths of up to 45 metres within the pit shell used to define the 2011 Mineral Resource.

They will be included in the updated geological interpretation and Mineral Resource at the end of the 2011 drilling program.

The Nachingwea Project is held in a 25-75 joint venture between IMX and Continental. IMX also has an indirect interest through a 37.2% interest in Continental, which gives it a beneficial interest of 53% in Nachinwea.

The 2011 drill program is geared towards expanding the Mineral Resource at Sleeping Giant and advancing the Ntaka Hill nickel copper sulphide deposits towards mine development.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/21555/imx-resources-extends-high-grade-nickel-copper-zone-in-tanzania-21555.html