Join our daily newsletter At The Bell to receive exclusive market insights
Nimy Resources Ltd (ASX:NIM) has hit a high-grade trend of copper, nickel, cobalt and PGE mineralisation within a wider zone of massive and semi-massive sulphides through drilling at its Masson prospect in Western Australia.
With three holes drilled in the program, assays brought back evidence of a high-grade copper lens within a broad zone of copper, nickel, cobalt and PGE (platinum grade metals) mineralisation.
The lens is interpreted as being between 126 metres to 236 metres, and all copper grades were above 1% in all three drillholes.
More specifically, assays from one hole registered at 13 metres at 0.62% copper (Cu), 0.36% nickel (Ni), 0.04% cobalt (Co), 0.25 g/t PGE (platinum and palladium – Pt & Pd), 2.30g/t Ag (silver) (1.33% CuEq) from 126m including 2 metres at 1.05% Cu, 0.15% Ni, 0.03% Co, 0.14 g/t PGE (Pt & Pd), 5.28g/t Ag (1.38% CuEq) from 126 metres.
A second showed 5.58 metres at 1.27% Cu, 0.42% Ni, 0.06% Co, 0.32 g/t PGE (Pt & Pd), 4.32g/t Ag (2.13% CuEq) from 230.52 metres, including 1.28 metre at 0.15% Cu, 0.87% Ni, 0.06% Co, 0.63 g/t PGE (Pt & Pd), 1.14g/t Ag (1.78% CuEq) from 230.52 metres.
Additionally, this mineralised zone at Masson now extends along strike of 240 metres with a maximum downhole width of 61.5 metres, and has been encountered from 102 metres to 328 metres downhole. It remains open down-dip and along strike.
Nimy Executive Director Luke Hampson said these numbers were continuing to build the story of Masson in a positive direction.
“Confirmation of the broad intervals of copper, nickel, cobalt and PGE’s in sulphide’s
along with a high grade copper trend confirms Masson as a significant discovery,” he said.
“Hosted within mafic intrusive rocks, the emergence of copper at these levels particularly as Nimy drills deeper signifies a dynamic system, part of a much larger mafic intrusion.
“Planning is underway to test further extensions to the Masson mineralisation including
testing of coincident high magnetics and EM anomalies along the 3.1km northern strike
that begins with the Masson Discovery, and the 3.8km highly magnetic unit with coincident EM anomalies southwest of the Masson Discovery.”
Nimy shares rose on the news. At 12:15 AEDT, they were trading at 6.6 cents – a rise of 11.86% since the market opened.
Join the discussion: See what HotCopper users are saying about Nimy Resources and be part of the conversations that move the markets.
